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Mill
Mill One-tenth of one cent. Some states use a mill rate to compute real estate taxes.
RELATED TERMS--------------------------------------
Mill
One-tenth of one cent. Some states use a mill rate to compute real estate taxes.
Rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
SIMILAR TERMS--------------------------------------
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Metes and bounds
The boundary lines of land described by listing the compass directions and distances of the boundaries. Originally, metes referred to distance and bounds referred to direction.
Metes-and-bounds description
A legal description of a parcel of land that begins at a well marked point and follows the boundaries, using directions and distances around the tract, back to the place of beginning.
Mezzanine financing
Mezzanine financing is somewhere between equity and debt. It is that piece of the capital structure that has senior debt above it and equity below it.
Mid-rise
A building with four to eight stories above ground level. In a central business district this might extend to buildings up to 25 stories.
Military ordinance location
Certain military bases contain live ammunition for various reasons. A seller of residential property located within one mile of such a hazard must give the buyer written notice as soon as practicable before transfer of title.
Mill
Mineral rights
Rights to subsurface land and profits. Nornally, when real property is conveyed, it includes everything above and below the surface of the land, except where specified by the grantor.
Minimum payment option mortgage
A mortgage where the borrower can choose to pay an ultra-low monthly payment.
Minor
A person under a legal age, usually under 18 years old.
Mint condition
A term describing a building or item that's just like new.
MIRAS
Mortgage Interest Relief At Source, a form of tax relief on the first £30,000 of a mortgage, is to be abolished on the 1st April 2000.
This dictionary contains 6433 terms. |
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