An escrow set up to handle the concurrent sale of one property and purchase of another property by same party

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay property taxes and insurance in addition to periodic rent, and the landlord (lessor) agrees to pay for property maintenance.
Also known as a net,net lease (or net-net lease).

Dower is the legal right or interest (estate) a wife acquires in property owned by her husband at any time during the marriage.

Dower and curtesy are legal life estates that are created upon the death of a spouse who owned real estate. Dower is the life estate that a wife acquires in the real property of her deceased husband, while curtesy is the estate a husband holds in real property owned by his wife following her death. Dower and curtesy entitle the surviving spouse to a portion (usually one-third to one-half) of the interest in the real property owned by the deceased spouse, even if that property was willed to someone else. Dower and curtesy are forms of tenancy by the entirety, and are only used in states that practice that system of common law. Tenancy by the entirety is contrasted with another common law system used by other states, known as community property.

Note that in some states, dower refers to either a husband's or wife's interest in the property of the other.

Toward the direction of a mouth, confluence, or other endpoint of a stream or river; the direction in which a river or stream is flowing.

Terms, Definitions, and Concepts: Hydrology, Science, Water

Area from which a single stream or river and its tributaries drain all of the water

The area of land drained by a river and its tributaries. Includes both surface runoff and groundwater flows.

A depression in the earth formed from running water from rain or winter thaw.

Definition: An informal method of estimating the value of real estate based on a cursory examination of the property and neighborhood, such as can be done from a vehicle. A drive-by appraisal is usually done by a real estate professional other than a licensed appraiser, such as a broker or salesperson. Note that a drive-by appraisal includes only the exterior of any structures on the property, and the person conducting the drive-by appraisal generally does not enter the parcel of real property being examined. Similar to a Broker's price opinion.

Terms, Definitions, and Concepts: Appraisal, Real Estate, Management, Finance and Investment

Representing both principals (buyer and seller) to a transaction

1. Strict adherence to and accomplishment of professional (especially fiduciary) responsibilities, duties, and tasks; attention to detail in research or the performance of legal and professional obligations, especially by one acting as agent or attorney.
2. The obligation of a buyer (or prospective buyer) of real or personal property to verify and substantiate all claims and representations made by the seller and/or his or her agents. Due diligence on the part of the buyer is often accomplished by retaining qualified, licensed professionals to conduct various inquiries or perform various duties on his or her behalf. Examples of such professionals include, but are not limited to:
   Real estate brokers, agents and salespersons
   Licensed home inspectors
   Real estate attorneys
Title research and title insurance companies
   Licensed real estate appraisers

A form of acceleration clause found in some mortgages, especially savings and loan mortgages, requiring the mortgagor to pay off the mortgage debt when selling the secured property, thus resulting in automatic maturity of the note at the lender's option

Hill or ridge of drifted sand shaped by wind

A structure that provides housing accommodations for two families by having separate entrances, kitchens, bedrooms, lanais, living rooms and bathrooms; a two-family dwelling

Unlawful constraint or action exercised upon a person whereby he is forced to perform some act against his will. A contract entered into under duress is void.

Definition:
1. An iterative auction format in which the auctioneer starts the bidding at a high price, with each successive bid one bid increment lower than the last. The first bidder wins the auction, paying the last announced price at the time of the bid. Also known as a descending clock auction or open descending price auction.

2. An auction format for selling multiple identical items, based on a clearing price. The auctioneer or issuer of the securities begins at a high initial price, lowering the price incrementally until bids are received and the clearing price is established. Bidders may sometimes submit demand curves rather than a single bid. In this case, each bidder wins the quantity of the item demanded at the clearing price, and paying that amount for each item won. This type of auction is commonly used in the trading of securities, especially U.S. Treasury Department notes and inflation-indexed securities. Also known as a uniform price auction.

Terms, Definitions, and Concepts: Auction, Economy, Finance and Investment, Real Estate

Definition: In auction theory, a dynamic auction is an auction sale that allows for multiple bids by an individual bidder, either continuously or in separate, distinct rounds of bidding. The bidding may be either continuous, as in a clock auction, or it may occur in distinct rounds, as in a multiple-round auction or iterative auction. Dynamic auctions are the most popular and widely-used auction format in the world; the most common type of dynamic auction is the English auction.

Terms, Definitions, and Concepts: Auction, Real Estate