Category: P

POPULATION MIGRATION RETOTD Episode 00156

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POPULATION MIGRATION The movement and relocation of people from one place of residence to another in response to social and economic factors and forces; a long-term trend that can be expected to affect local economies and real estate values.

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PERSONAL PROPERTY RETOTD Episode 00154

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PERSONAL PROPERTY Owned items which are not permanently affixed to the land. Any property that is not real property or attached to real property. For example furniture is not attached however a new light fixture would be considered attached and…

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PAYMENT DUE DATE RETOTD Episode 00152

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PAYMENT DUE DATE Contract language specifying when payments are due on money borrowed. The due date is always indicated and means that the payment must be received on or before the specified date. Grace periods prior to assessing a late…

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PROPERTY TAX RETOTD Episode 00139

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PROPERTY TAX A tax charged by local government and used to fund municipal services such as schools, police, or street maintenance. The amount of property tax is determined locally by a formula, usually based on a percent per $1,000 of…

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PARTIAL SALES RETOTD Episode 00079

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PARTIAL SALES The sale of an interest in real estate that is less than the whole property. This may include a sale of easement rights, parcel of land or retail pad, or a single building of a multi-building investment.

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PREPAYMENT RETOTD: Episode 00048

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PREPAYMENT Payment made that reduces the principal balance of a loan before the due date and before the loan has become fully amortized. Any amount paid to reduce the principal balance of a loan before the due date. Payment in…

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