Category: L

LISTING AGREEMENTS RETOTD Episode 00128

Share

LISTING AGREEMENTS • Exclusive right-to-sell agreement, the seller pays a fee regardless of who produces the buyer. This fee covers many important services that the sales associate performs above and beyond finding a qualified buyer. • Exclusive-agency listing if the…

Share

LIABILITY INSURANCE RETOTD Episode 00127

Share

LIABILITY INSURANCE Insurance coverage that offers protection against claims alleging that a property owner’s negligence or inappropriate action resulted in bodily injury or property damage to another party. It is usually part of a homeowner’s insurance policy.

Share

LEASEHOLD ESTATE RETOTD Episode 00126

Share

LEASEHOLD ESTATE In exchange for rent, the tenant has the right to occupy and use the property for the duration of the lease. A way of holding title to a property wherein the mortgagor does not actually own the property…

Share

LEASE OPTION RETOTD Episode 00125

Share

LEASE OPTION An alternative financing option that allows home buyers to lease a home with an option to buy. Each month’s rent payment may consist of not only the rent, but an additional amount which can be applied toward the…

Share

LANDLORD’S WARRANT RETOTD Episode 00124

Share

LANDLORD’S WARRANT A warrant from a landlord to levy upon a tenant’s personal property (e.g., furniture, etc.) and to sell this property at a public sale to compel payment of the rent or the observance of some other stipulation in…

Share

LEASE RETOTD Episode 00070

Share

LEASE A contract that creates the relationship of landlord and tenant. A contractually binding agreement that grants a right to exclusive possession or use of property, usually in return for a periodic payment called rent.

Share