Indicators on Hattiesburg Real Estate Glossary You Should Know

Realty Executives, The Executive Team, Inc.
118 Lamar Blvd #10, Hattiesburg, MS 39402, USA
8J94+FJ Hattiesburg, Mississippi, USA
+1 601-268-1600

AGENT - A single who is authorized to depict also to act on behalf of A further person (known as the principal). A real estate broker will be the agent of his customer, be it the vendor or customer, to whom he owes a fiduciary obligation.

AFFIDAVIT - A sworn assertion minimized to crafting and designed less than oath ahead of a Notary Public or other Formal approved by legislation to administer an oath.

ACKNOWLEDGEMENT - A proper declaration built in advance of a duly authorized officer, ordinarily a Notary Public, by a one that has signed a doc.

ASSESSMENT - A specific levy for any definite function, for instance incorporating curbs or sewers in a community. Specific condominium owners are topic to Unique assessments benefiting the job as a whole and never funded as a result of normal upkeep prices.

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Several of the critical great things about hiring a assets management company incorporate: Superior tenants: The most beneficial assets administration corporations are competent at tenant screening. This may help you draw in a better caliber of tenants to your creating.

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BULK TRANSFERS - Any transfer in bulk, rather than while in the normal system of the seller's company, of An important Section of the resources, inventory or provides of the organization.

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BLANKET MORTGAGE - A mortgage and that is secured by several structures or a variety of heaps. A blanket mortgage is commonly utilized to finance proposed subdivisions or advancement tasks, Particularly cooperatives.

RIPARIAN - Those legal rights and obligations that happen to be incidental to possession of land adjacent to or abutting on watercourses for example streams and lakes.

Exclusive Evaluation - A tax or levy customarily her latest blog imposed versus only People unique parcels of realty which is able to benefit from a proposed general public advancement, rather than a basic tax on the entire Group.

Tranquil TITLE Motion - A circuit court docket motion supposed to determine or settle the title to a specific home, Primarily where by There's a cloud about the title.

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