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Draw period
Draw period On a line of credit, the draw period is the fixed time when a borrower can make withdrawals from the account.
RELATED TERMS--------------------------------------
Credit
An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date.
Draw
A payment, made periodically, to a construction contractor or subcontractor as work progresses. A draw is part of a construction loan.
Fixed
A time period that is fixed for each calendar year, either by date or by calendar weeks; most in numerical sequence 1-52.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
SIMILAR TERMS--------------------------------------
Draw
A payment, made periodically, to a construction contractor or subcontractor as work progresses. A draw is part of a construction loan.
Draws
1) An advancement of money against future earnings. 2) Periodic advances of funds under a construction loan agreement.
PREVIOUS AND NEXT TERMS--------------------------------------
DOWNREIT
An organizational structure that makes it possible for REITs to buy properties using partnership units. The effect is the same as an UPREIT, however, the DOWNREIT is subordinate to the REIT itself, hence the name.
Downzoning
A change in zoning from a higher to a lower classification or from a more active to less active classification, such as from residential to conservation, or multifamily to single-family use.
Dragnet clause
A clause in a mortgage or deed of trust which places the real estate as security for existing debts between the parties.
Drainage
A system of gutters and drainpipes that carry water away from the foundation of a house.
Draw
A payment, made periodically, to a construction contractor or subcontractor as work progresses. A draw is part of a construction loan.
Draw period
Draws
1) An advancement of money against future earnings. 2) Periodic advances of funds under a construction loan agreement.
Dropped ceiling
A flat ceiling built lower than the original ceiling.
Dry rot
A fungal decay that causes lumber to crumble.
Drywall
A construction material used as a basis for interior walls in a home.
Dual agency
An agency relationship in which the agent acts concurrently for both principals in a real estate transaction.
This dictionary contains 6433 terms. |
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