Monday 21 October 2013

Understanding Real Estate Terms

Abatement Notice: A notice served to the owner(s) or the occupier(s) of a property in the occurrence of any nuisance, warning them to enter on their land to halt the nuisance.
Absolute title: The right given to the ownership of a mortgage deed to demand full repayment of the outstanding debt before the due date.
Assignment: The transfer of a property interest from one party to another.
Anchor tenant: Supermarkets or department stores introduced in a particular place in order to attract public to shop for the purpose of encouraging other retailers to set up shops en route.
Asset valuation:Describes the worth of land and buildings or plant and machinery.
Agreement for lease/sale:An agreement is made to enter into a lease/sale in which the terms of the lease/sale have been agreed and will be annexed to the agreement in writing.
Atrium: An open space situated within a multi-storey building located beyond the main entrance door containing large windows, lifts, reception areas and plants.
Alternative user value: The value of land and buildings which can be utilised for different purposes than that of current use.

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