Land Reclamation
Land Reclamation – David Reecher The process of upgrading unusable land through making physical improvements, such as draining and filling a swamp.... Read More
Land Contract
Land Contract – David Reecher A type of creative financing in which a down payment is made and periodic payments are made at intervals to pay off the balance. The purchaser may use, occupy and enjoy... Read More
Lagging Indicators
Lagging Indicators – David Reecher Six lagging indicators issued by the government consisting of unemployment rate, corporate expenditures, labor cost per unit, loans outstanding, bank interest rate... Read More
Kick-out Clause
Kick-out Clause – David Reecher Sales contract clause, which allows a seller to accept a contingent offer and then back out to accept a second and better offer without penalty.... Read More
Just Compensation
Just Compensation – David Reecher The fair market value of a property, paid to the owner, when that property is acquired in an eminent domain action.... Read More
Junior Mortgage
Junior Mortgage – David Reecher Loan that is subordinate to the primary loan and cannot be satisfied until the primary loan is paid.... Read More
Judicial Foreclosure
Judicial Foreclosure – David Reecher Property of a defaulted borrower is sold under court order and the amount received is ratified by the Court.... Read More