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Life
Life Cycle costing In property management, comparing one type of equipment to another based on both purchase cost and operating cost over its expected useful lifetime.
RELATED TERMS--------------------------------------
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.
Management
Refers to the amount of personal or hired time, it takes to run the investment.
SIMILAR TERMS--------------------------------------
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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.
Lien waiver
Documents signed by subcontractors and suppliers, indicating they have received payment in full.
Life
Life cap
For an adjustable-rate mortgage (ARM), a limit on the amount that the enterest rate can increase or decrease over the life of the mortgage.
Life cycle costing
In property management, comparing one type of equipment to another based on both purchase cost and operating cost over its expected useful lifetime.
Life estate
An estate in real property for the life of a person
Life insurance
Pays out a lump sum on the death of the policyholder. Lenders usually insist that their mortgage customers have life insurance.
Life tenant
A person in possession of a life estate.
This dictionary contains 6433 terms. |
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