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Liability coverage
Liability coverage Insurance coverage for injuries or losses sustained by the public when on an individual's property.
RELATED TERMS--------------------------------------
Insurance
Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.
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--------------------------------------
Liabilities
A person's financial obligations. Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others.
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.
PREVIOUS AND NEXT TERMS--------------------------------------
Level of Control on a Listing Agreement
The form used when specifying the level of control of the listing in its title and language.
Level term assurance
Pays out a lump sum if the borrower dies before the mortgage has been paid off. This is a set amount that does not decrease over time - regardless of how much of the mortgage has been paid off.
Leverage
Using someone else's money to purchase a property. Refers to the ability to use the investment as collateral for a loan.
Levy
To assess, seize or collect. To levy a tax is to assess a property and set the rate of taxation.
Liabilities
A person's financial obligations. Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others.
Liability coverage
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.
LIBOR (London InterBank Offered Rate)
The interest rate offered on Eurodollar deposits traded between banks, also called swaps
License
1) A privilege or right granted to a person by a state to operate as a real estate broker or salesperson. 2) The revocable permission for a temporary use of land.
Lien
A charge or claim by one party on the property of another as security for the payment of a debt.
Lien theory
Some states interpret a mortgage as being purely a lien on real property. The mortgagee thus has no right of possession but must foreclose the lien and sell the property if the mortgagor defaults.
This dictionary contains 6433 terms. |
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