Having binding force; legally sufficient and authorized by law.
The estimated worth of property.
Variable Rate Mortgage
Mortgage in which interest rate will fluctuate depending on terms of mortgage.
Permission obtained from zoning authorities permitting the construction of a building or structure that is forbidden by present zoning ordinances; a departure from the current zoning regulation.
The purchaser; buyer.
The geographic area in which a court has legal jurisdiction.
To confirm or substantiate by oath.
A present right or title to realty, but with possession delayed to some uncertain time in the future.
Veterans Administration (VA)
Also, Department of Veterans Affairs (DVA). An agency of the Federal Government, whose activities include guaranteed repayment of certain loans in the event of default.
To have no force or effect; that which is unenforceable.
That which is capable of being adjudged void, but is not void unless action is taken to make it so. Able to be voided.
Any lien placed on property with consent of, or as a result of, the voluntary act of the owner.
To relinquish, or abandon; the abandonment of some claim or right.
A deed in which the grantor fully warrants a good clear title to the property; a deed that contains covenants of title.
Improper use or damage by one in possession such as tenant or vendee.
A method of financing in which a new mortgage is placed in a secondary position; an all-inclusive mortgage.
Writ of Execution
A writ or court order authorizing and directing an officer of the court to carry out the judgment or decree of the court.
The return on an investment; the amount of profit made as a percentage of the amount invested.
An area set aside for specific use, subject to certain restrictions or restraints; also part of tax map description.
An act of the city or county authorities by exercise of police power in regulating, controlling or specifying the type of use to which the property may be put in specific ares.