The Real Estate
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Co-signer
In real estate, a co-signer is a second party who signs a promissory note along with the primary borrower to help secure financing for a property. By co-signing, this individual agrees to be legally responsible for the loan obligations, even though they may not have...
Corporation
In real estate, a corporation is a legal entity created under state law that is treated as a separate and distinct individual from the people who own or manage it. This separation means the corporation has its own rights, responsibilities, and liabilities independent...
Cooperative
In real estate, a cooperative (often called a “co-op”) is a form of property ownership in which an apartment building is owned by a corporation rather than by individual unit owners. Instead of purchasing real property, a buyer purchases shares of stock in the...
Conveyance
In real estate, conveyance refers to the legal process by which ownership of property (the title) is transferred from one party, known as the seller or grantor, to another, known as the buyer or grantee. This transfer is accomplished primarily through a written legal...
Conversion
In legal and real estate contexts, conversion can have two distinct meanings depending on usage. First, it refers to the unlawful appropriation or misuse of another person’s property, such as the improper use or taking of trust funds by a broker or fiduciary, which...
Conventional Loan
In real estate financing, a conventional loan is a mortgage or deed of trust that is not insured or guaranteed by a government agency such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). These loans are typically offered by...
Contribution (Principle of Contribution)
In real estate appraisal, the principle of contribution states that the value of a specific component or improvement to a property is measured by how much it adds to the overall value of the property, rather than by its cost. An improvement contributes value only to...
Contract for Deed (Land Sale Contract, Installment Sale Contract)
In real estate, a contract for deed is an installment agreement for the sale of property in which the seller retains legal title until the buyer has paid the purchase price in full. During the term of the contract, the buyer takes possession of the property and holds...
Contract (Real Estate)
In legal and real estate contexts, a contract is a binding agreement between two or more parties to do, or refrain from doing, a specific act. For a contract to be valid, it must contain four essential elements: parties who are legally capable of contracting, mutual...
Contingency
In real estate contracts, a contingency is a provision that makes the binding nature of the agreement dependent upon the occurrence of a specified event. Until the contingency is satisfied, the parties’ obligations under the contract are conditional and may allow one...