Incumbrance – David Reecher Claim or lien or interest in a property that complicates the title process, interfering with its use or transfer. Restrictive covenants. Also spelled encumbrance.... Read More

Income Statement

Income Statement – David Reecher Profit and loss statement. Financial statement depicting a business entity’s operating performance and reports the components of net income, including sales of rea... Read More

Income Approach

Income Approach – David Reecher Method of appraisal for real estate based on the property’s anticipated future income; market value equals expected annual income divided by the capitalization rate... Read More

In Escrow

In Escrow – David Reecher Phrase used for the period in which the escrow agent communicates to both the buyer and the seller as to what documents or moneys have to be deposited with the escrow agent... Read More

Improved Land

Improved Land – David Reecher Land that has been developed for use and has had installation of such utilities as water, sewer, roads and building structures. These improvements make the raw land inc... Read More


Impounds – David Reecher That portion of a monthly mortgage payment which is placed in an account to be used to pay for property taxes, private mortgage insurance and insurance.... Read More