Pied-a-Terre
Pied-a-Terre – David Reecher Pied-a-terre is a term that refers to an apartment that is not the primary residence of the owner. The term refers to an apartment that is used only sporadical... Read More
Phantom Gain
Phantom Gain – David Reecher A sale of real estate in which income is recognized for tax purposes but no money has been received correlating to the gain amount. This can occur when the pro... Read More
Periodic Tenancy
Periodic Tenancy – David Reecher A periodic tenancy lease automatically renews for successive periods unless terminated by either party. It is also called an estate from year to year.... Read More
Perfecting a Loan
Perfecting a Loan – David Reecher When a loan is issued against a personal property, it is recorded in the county clerk’s office against the name of the borrower. The recording proce... Read More
Percentage Lease
Percentage Lease – David Reecher A percentage lease refers to a lease that has a rental amount that is a combination of a fixed amount plus a percentage of the lessee’s gross sales.... Read More
Ownership in Severalty
Ownership in Severalty – David Reecher Ownership in severalty is title to real property held in the name of one person only.... Read More
Notice of Lis Pendens
Notice of Lis Pendens – David Reecher Notice of lis pendens is a public record warning all concerned parties that title to a property is the subject of a lawsuit and any lien resulting from the ... Read More