The Real Estate
Encyclopedia: P-T

In real estate and tax law, a tax free exchange is the trade or exchange of one real property for another without recognizing income tax on the gain at the time of the transaction. Instead of paying tax immediately, the gain is deferred under the provisions of Section...

In real estate finance, a take out loan is permanent or long term financing that replaces short term construction financing after a project has been completed. It is used to pay off the construction loan and provide stable repayment terms. Take out loans are typically...

In real estate investment, a syndicate is a partnership or organized group formed to participate in a real estate venture. It allows multiple investors to pool capital and share in the ownership and potential returns of a property or project. Syndicates may be...

In real estate, sweat equity refers to a program or arrangement in which a purchaser contributes labor or improvements to a property instead of paying all or part of the down payment or other acquisition costs. The value of the work performed is credited toward the...

In real estate law, survivorship is the acquisition of an interest in property by outliving another person who held an interest in that property. The surviving party succeeds to the deceased person’s share. Survivorship most commonly arises in forms of co ownership...

In real estate and land surveying, a survey is the process of measuring and mapping the boundaries of a parcel of land. It identifies the location, dimensions, and area of the property. A survey may also include information about topography, improvements, easements,...

In real estate and contract law, a surety is a person or entity that guarantees the performance or obligations of another party. The surety agrees to be responsible if the primary party fails to perform as required. Sureties are commonly involved in construction and...

In real estate appraisal, the principle of supply and demand states that market value is determined by the interaction of available properties and the demand for them. The balance between these forces influences price levels in the marketplace. As of the appraisal...

In real estate appraisal, the principle of substitution states that the maximum value of a property is limited by the cost of acquiring an equally desirable substitute property. A buyer will not pay more for a property than the cost of obtaining a comparable...

In real estate and legal practice, subrogation is the substitution of one person or entity for another with respect to a legal right or obligation. The party stepping into the position of another acquires the same rights and remedies that the original party possessed....