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Equalization factor
Equalization factor A factor (number) by which the assessed value of a property is multiplied to arrive at a value for the property that is in line with statewide tax assessments.
RELATED TERMS--------------------------------------
Value
The measure of the monetary equivalent of a property. The four essential elements of value are utility, scarcity, demand and transferability.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
SIMILAR TERMS--------------------------------------
Equal Credit Opportunity Act (ECOA)
A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.
Equal dignities rule
A rule of agency law that stipulates that when a contract is required by law to be in writing, the authority of an agent to enter into such a contract on behalf of the principal must also be in writing.
Equalization
In some jurisdictions, when it is necessary to correct inequalities in state wide tax assessments, an equalization factor is used to achieve uniformity.
PREVIOUS AND NEXT TERMS--------------------------------------
Environmental site assessment
An independent investigation and assessment of a property to determine if any existing or potential environmental problems or hazards exist on property.
Environmentally friendly home construction
A method of construction that utilizes recycled materials.
Equal Credit Opportunity Act (ECOA)
A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.
Equal dignities rule
A rule of agency law that stipulates that when a contract is required by law to be in writing, the authority of an agent to enter into such a contract on behalf of the principal must also be in writing.
Equalization
In some jurisdictions, when it is necessary to correct inequalities in state wide tax assessments, an equalization factor is used to achieve uniformity.
Equalization factor
Equifax
One of the Big Three credit bureaus, along with Experian and Trans Union.
Equitable lien
A lien arising out of common law—in contrast to a statutory lien, which is imposed on property by statute.
Equitable redemption
A defaulted property owner recovering his or her property prior to its sale by curing the default.
Equitable right of redemption
The right of a defaulted property owner to recover the property prior to its sale by paying the appropriate fees and charges.
Equitable title
The interest held by a vendee under a contract for deed or an installment contract; the equitable right to obtain absolute ownership to property when legal title is held in another's name.
This dictionary contains 6433 terms. |
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