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What is the difference between property tax and real estate tax?
Real estate tax is applied to the residence in which you live and the land that it resides on. Property tax can extend to all personal property, which includes your residence as well as other things such as your car. Often however, these terms are used interchangeably.
What is CC in real estate terms?
Closing Cost! These are fees that you incur when you close escrow on Real property
Rental property of decedent is sold by estate. Who gets the rental income collected by estate from date of death to date of sale?
The rental income becomes part of the estate and will be distributed according to the terms of the will to the beneficiaries or to the next of kin if there was no will.
What is pup in real estate terms?
In real estate, "PUP" stands for "Property Under Purchase." It refers to a property that is currently under a purchase agreement, meaning that a buyer has made an offer that has been accepted by the seller, but the transaction has not yet been finalized. This stage indicates that the property is effectively off the market while the necessary due diligence and financing are completed.
What is the difference between terms of trade and balance of trade?
terms of trade is the relationship of prices of imports and exportstot=price index of imports---- price index of exportsbalance of trade is the difference between total exports and total importsbot=totall exports- total imports
What is the difference between property tax and real estate tax?
Real estate tax is applied to the residence in which you live and the land that it resides on. Property tax can extend to all personal property, which includes your residence as well as other things such as your car. Often however, these terms are used interchangeably.
What is the difference between real property tax and real estate tax?
real estate tax is applied to the residence in which you live and the land that it resides on. Property tax can extend to all personal property, which includes your residence as well as other things such as your car. Often however, these terms are used interchangeably.
What is the difference between personal property and contents?
The terms personal property and contents can sometimes be used interchangeably. Many times personal property and contents both refer to the items you own.
What has the author Damien Abbott written?
Damien Abbott has written: 'Encyclopaedia of Real Estate Terms' 'The shorter encyclopedia of real estate terms' -- subject(s): Dictionaries, Real property, Real estate business
What is the difference between lean vs lien in terms of property ownership and financial obligations?
The difference between lean and lien in terms of property ownership and financial obligations is that a lean refers to a claim against a property for unpaid debts or services, while a lien is a legal right to keep possession of property until a debt is paid off. Essentially, a lean is a type of lien that specifically relates to property ownership and financial obligations.
Is having a tangible property the difference between using the terms lease and rent?
No that is not the basic difference between the terms lease and rent. A lease is often a long term contract, where the details can't be altered. Rent is often more short term.
How do you buy in simple fee your life estate?
If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.
What is the difference between letting and leasing?
The terms letting and leasing are typically tied to the real estate industry. Letting is the practice of signing a new lease for each tenant. Leasing and subleasing refer to a tenant who decides to rent a specific piece of their property to another party.
What is the difference between bill and invoice?
What is the difference between Invoice & Bill, in common terms. What is the difference between Invoice & Bill, in common terms.
What is the difference between right and interest in a property?
One AnswerAn interest in property means that you have a legal or equitable claim or right in property. A right in property is a legally enforceable claim. Used by themselves those legal terms are sometimes interchangeable.For example, a fee interest in property means you own it absolutely. You also own all the appurtenant rights that pass with the property such as easement rights. You can sell the property, devise it by your will or your heirs will inherit it when you die.A life estate is an interest in real estate that provides its owner with the right to the use and possession of the property for life. The life estate is extinguished upon your death. There is nothing left for your heirs to inherit.An easement right gives you a legally enforceable right to make a certain use of another person's property.
What is the difference between right of survivorship and tenants in common in terms of property ownership?
In terms of property ownership, the main difference between right of survivorship and tenants in common is that with right of survivorship, when one owner dies, their share automatically goes to the surviving owner(s). In contrast, with tenants in common, each owner can pass on their share to their chosen heirs or beneficiaries in their will.
What is the difference between an Executor and an Administrator?
An executor handles the estate of a decedent who died with a will. An administrator handles the estate of a decedent who die without a will. The terms are different because an executor is executing the decedent's directions as stated in the will. The administrator is simply handling the estate according to general laws.
