Pyramid Zoning

Pyramid Zoning – David Reecher Form of zoning regulation permitting all the uses permitted in more restrictive zoning to also apply to less restrictive zoning. The net effect of pyramid zoning i... Read More

Underwriting

Underwriting – David Reecher In mortgage lending, underwriting is the decision-making process used to determine whether the loan risk is acceptable to the lender.  Underwriting involves the... Read More

Insider Rights

Insider Rights – David Reecher Special rights offered to tenants occupying apartments in a building in the process of converting to a co-op or condo, giving them the exclusive right to buy their... Read More

Graduated Lease

Graduated Lease – David Reecher A graduated lease is a lease in which the rent changes from period to period over the lease term.  This type of lease is usually used by a new business tenan... Read More

Acre

Acre – David Reecher Is a unit of land area used in the imperial and US customary systems. It is defined as the area of 1 chain by 1 furlong (66 by 660 feet), which is exactly equal to 43,560 sq... Read More

RIPARIAN RIGHTS

RIPARIAN RIGHTS – David Reecher The many rights of a person in, to, and over the banks, bed, shallows, shore, and water of a stream or body of water upon which his land borders.... Read More

REFINANCE RATE

REFINANCE RATE – David Reecher When referring to title insurance, the refinance rate is the reduced rate for a loan policy issued on the new loan in a refinance transaction, in which the origina... Read More

Setback

Setback – David Reecher Setback is a technical property term that refers to the minimum distance that a house must be from the end of the lot line. The specific setback distance is determined by... Read More

Reverse Mortgage

Reverse Mortgage – David Reecher A reverse mortgage is a loan, but it is only available to homeowners that are over a certain age and that have a specific amount of equity in their homes. While ... Read More