FORECLOSURE - A legal procedure whereby property used as security for debt is sold to satisfy the debt in the event of default in payment of the mortgage note or default of other terms in the mortgage document. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, LITTORAL LAND - Land bordering on the shore of a sea or ocean and thus affected by the tide currents. DEPOSIT - Money offered by a prospective buyer as an indication of good faith in entering into a contract to purchase; earnest money; security for the buyer's performance of a contract. ; sometimes referred to as an impound account. MORTGAGEE - The one who receives and holds a mortgage as security for a debt; the lender; a lender or creditor who holds a mortgage as security for payment of an obligation. var mapping_rightslot2 = googletag.sizeMapping().addSize([746, 0], [[300, 250], [120, 600], [160, 600]]).addSize([0, 0], []).build(); See Manning & Napier Real Estate Ser (MNRWX) mutual fund ratings from all the top fund analysts in one place. RAW LAND - Unimproved land; land in its unused natural state prior to the construction of improvements such as streets, lighting, sewers, and the like. TIME IS OF THE ESSENCE - The clause in a contract which emphasizes that punctual performance is an essential requirement of the contract. ACCELERATION CLAUSE - A clause in a promissory note, agreement of sale, or mortgage which gives the lender the right to call all sums due and payable in advance of the fixed payment date upon the occurrence of a specified event, such as a sale, default, assignment or further encumbrance of the property. ABANDONMENT - The voluntary surrender or relinquishment of possession of real property with the intention of terminating one's possession or interest, but without vesting this interest in any other person. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/2863368/btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, { bidder: 'sovrn', params: { tagid: '446381' }}, Private restrictions are created by means of restrictive covenants written into real property instruments, such as deeds and leases. NET WORTH - The value remaining after deducting liabilities from assets. PROPERTY MANAGEMENT - That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others. CANTILEVER - A projecting beam or overhanging portion supported at one end only. PLOTTAGE - The merging or consolidating of adjacent lots into one larger lot, with the consequent result of improved usability and increased value; also called assemblage. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, }); storage: { View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. CERTIFICATE OF REASONABLE VALUE (CRV) - A certificate issued by the Veterans Administration setting forth a property's current market value estimate, based upon a VA approved appraisal. Zillow has 21 homes for sale in Manning SC. EXECUTIVE - The act of making a document legally valid, such as formalizing a contract by signing, or acknowledging and delivering a deed. INJUNCTION - A legal action which forbids a party defendant from doing some act; it requires a person to whom it is directed to refrain from doing a particular thing. LAW DAY - The date an obligation becomes due; sometimes refers to the closing date. MARKETABLE TITLE - Good or clear title reasonably free from risk of litigation over possible defects; also referred to as merchantable title. { bidder: 'ix', params: { siteId: '555365', size: [120, 600] }}, { bidder: 'appnexus', params: { placementId: '11654149' }}, GRANDFATHER CLAUSE - Common expression used to convey the idea that something which was once permissible continues to be permissible despite changes in the controlling law. COMMON LAW - That body of law which is based on usage, general acceptance, and custom, as manifested in decrees and judgments of the courts; judge-made law, as opposed to codified or statutory law. MARGINAL LAND - Land which is of little value because of some deficiency, such as poor access, lack of adequate rainfall, or steep terrain. 'max': 3, 'max': 30, { bidder: 'ix', params: { siteId: '195467', size: [300, 250] }}, { bidder: 'sovrn', params: { tagid: '346698' }}, DEPRECIATION (TAX) - For tax purposes, depreciation is an expense deduction taken for an investment in depreciable property. PERMANENT FINANCING - A long-term loan, as opposed to an interim loan. FINANCE FEE - A mortgage brokerage fee to cover the expenses incurred in placing the mortgage with a lending institution; a mortgage service charge or origination fee. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, MILITARY CLAUSE - A clause inserted in some residential leases to allow the military tenant to terminate the lease in case of transfer, discharge or other circumstances making termination appropriate. INVERSE CONDEMNATION - An action for "just compensation "brought by one whose property has been effectively "taken" or substantially interfered with or taken without just compensation { bidder: 'openx', params: { unit: '539971080', delDomain: 'idm-d.openx.net' }}, LIS PENDENS - A legal document recorded in the Bureau of Conveyances, which gives constructive notice that an action has been filed in either a state or federal court affecting a particular piece of property. FEE SIMPLE - The largest estate one can possess in real property. Our convenient website allows you to request insurance quotes twenty-four hours a day. AD VALOREM - Latin for "according to valuation," usually referring to a type of tax or assessment. var pbjs = pbjs || {}; P MINERAL RIGHTS - Rights to subsurface land and profits. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; DEPRECIATION (APPRAISAL) - A loss in value due to any cause; any condition which adversely affects the value of an improvement. ENCROACHMENT - An unauthorized invasion or intrusion of a fixture or other real property wholly or partly upon another's property, thus reducing the size and value of the invaded property. iasLog("criterion : cdo_ptl = entry-lcp"); GRADUATED RENTAL LEASE - A lease in which the rent payments commence at a fixed, often low rate, but "step up" or increase at set intervals as the lease term matures. PRINCIPAL - The capital sum; interest is paid on the principal. When a real estate agent is accused of commingling of funds , it means that he/she didn't keep client's money into a separate account, but mixed his/her own funds with earnest money, for example. PRIVATE MORTGAGE INSURANCE - A special form of insurance designed to permit lenders to increase their loan-to-market-value ratio, often up to 95 percent of the market value of the property. In essence, it is an additional mortgage in which another lender refinances a borrower by lending an amount over the existing first mortgage amount, without cashing out or distributing the existence of the first mortgage. NOTICE TO QUIT - A written notice given by a landlord to his tenant, stating that the landlord intends to regain possession of the leased premises and that the tenant is required to quit and remove himself from the premises either at the end of the lease term or immediately if there is a breach of lease or if the tenancy is at will or by sufferance; sometimes refers to the notice given by the tenant to the landlord that he intends to give up possession on a stated day. OVERIMPROVEMENT - An improvement which by reason of excess size or cost is not the highest and best use for the site on which it is placed. CLUSTER DEVELOPMENT - The grouping of housing units on less than normal size homesites, with the remaining land being devoted to common areas. What Is the Meaning of Open Houses?. EQUITY - That interest or value remaining in property after payment of all liens or other charges on the property. 606-356-8387 . VOID - Having no legal force or binding effect; a nullity; not enforceable. These rights include the right to possess, to use, to encumber, to transfer and to exclude, commonly called the "bundle of rights.". pid: '94' Find homes for sale and real estate in Manning, OR at realtor.com®. } TITLE SEARCH - An examination of the public records to determine what, if any, defects there are in the chain of title. { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, STANDING LOAN - A commitment by the interim or construction lender to keep the money already funded in the project for a specified period of time after the expiration of the interim loan, usually until permanent take-out financing is secured. COLOR OF TITLE - A condition which has the appearance of good title, but which in fact is not valid title, as where title is founded on some written document which on its face appears valid and effective, but which is actually invalid. DEED OF TRUST - A legal document in which title to property is transferred to a third party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary(lender). PREPAYMENT PENALTY - The amount set by the creditor as a penalty to the debtor for paying off the debt prior to its maturity. D TAX LIEN - A general statutory lien imposed against real property for failure to pay taxes. IMPOUND ACCOUNT - A trust account established to set aside funds for future needs. LIMITED PARTNERSHIP - A partnership formed by two or more persons having as members one or more general partners and one or more limited partners. It merely discloses those items about the property which are of public record, and thus does not reveal such things as encroachments, forgeries, and the like. RESIDUAL PROCESS - An appraisal process used in the income approach to estimate the value of the land and/or the building, as indicated by the capitalization of the residual net income attributable to it. DESCENT - The acquisition of an estate by inheritance, where an heir succeeds to the property by operation of law. E MORTGAGE BROKER - A person or firm which acts as an intermediary between borrower and lender; one who, for compensation or gain, negotiates, sells or arranges loans and sometimes continues to service the loans. Individual condominium owners are subject to special assessments benefiting the project as a whole and not funded through regular maintenance charges. OFFICE EXCLUSIVE - A listing in which the seller refuses to submit the listing to Multiple Listing Service, even after being informed of the advantages of MLS, and signs a certification to that effect. 'increment': 0.05, 'buckets': [{ DISCOUNT POINTS - An added loan fee charged by a lender to make the yield on a lower-than-market interest VA or FHA loan competitive with higher interest conventional loans. {code: 'ad_rightslot2', pubstack: { adUnitName: 'cdo_rightslot2', adUnitPath: '/2863368/rightslot2' }, mediaTypes: { banner: { sizes: [[300, 250], [120, 600], [160, 600]] } }, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, { bidder: 'appnexus', params: { placementId: '11654174' }}, HYPOTHECATE - To pledge specific real or personal property as security for an obligation, without surrendering possession of it. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_topslot_728x90' }}, INVENTORY - An itemized list of property. DEPTH TABLE - Tables of percentage designed to provide a uniform system of measuring the additional value to lots which accrues because of added depth, with the extra depth valued according to the added utility which it creates. HABITABLE - Being fit to live in. ACRE - A measure of land equaling 43,560 square feet; 4,840 square yards; 160 square rods. The Army always has to work hard to … MONEY - The cash deposit (including initial and additional deposits) paid by the prospective buyer of real property as evidence of his good faith intention to complete the transaction; called hand money or a binder in some states. CONTRACT - A legal agreement between competent parties who agree to perform or refrain from performing certain acts for a consideration. QUIET TITLE ACTION - A circuit court action intended to establish or settle the title to a particular property, especially where there is a cloud on the title. { bidder: 'appnexus', params: { placementId: '11654156' }}, View the latest Houses for Sale in Manning, WA with property sales data, average prices, suburb profiles and more. var googletag = googletag || {}; The collateral for a real estate mortgage loan is the mortgaged property itself, which has been hypothecated. 'increment': 1, var pbHdSlots = [ SECURITY DEPOSIT - Money deposited by or for the tenant with the landlord, to be held by the landlord for the following purposes: to remedy tenant defaults for damage to the premises (be it accidental or intentional), for failure to pay rent due, or for failure to return all keys at the end of the tenancy. { bidder: 'ix', params: { siteId: '555365', size: [120, 600] }}, MISREPRESENTATION - A false statement or concealment of a material fact made with the intent to induce some action by another party. EXECUTORY CONTRACT - A contract in which one or both of the parties has not yet performed. ACCRETION - The gradual and imperceptible addition to land by alluvial deposits of soil through natural causes, such as shoreline movement caused by streams or rivers. LIFE ESTATE - Any estate in real or personal property which is limited in duration to the life of its owner or the life of some other designated person. PARTICIPATION MORTGAGE - A mortgage in which the lender participates in the income of the mortgaged venture beyond a fixed return, or receives a yield on the loan in addition to the straight interest rate. ); usually the ratio of land area to improvement area. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. TENANCY BY THE ENTIRETY - A special joint tenancy between a lawfully married husband and wife, which places all title to the property into the marital unit, with both spouses having an equal, undivided interest in the whole property. PROBATE - The formal judicial proceeding to prove or confirm the validity of a will. TOWNHOUSE - A type of dwelling unit normally having two floors, with the living area and kitchen on the base floor and the bedrooms located on the second floor. { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, if(!isPlusPopupShown()) VENDEE - The purchaser of realty; the buyer. LANDLOCKED - Real property having no access to a public road or way. In effect, the mortgage states that the lender can look to the property in the event the borrower defaults in payment of the note. The will is presented to the probate court, and creditors and interested parties are notified to present their claims or to show cause why the provisions of the will should not be enforced by the court. The note is the evidence of the debt. { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_topslot_mobile_flex' }}, LEGAL RATE OF INTEREST - The maximum interest rate permitted bylaw, with anything above that rate being usury. ESCHEAT - The reversion of property to the state when a decedent dies intestate and there are no heirs capable of inheriting, or when the property is abandoned. ZONING - The regulation of structures and uses of property within designated districts or zones. AMENITIES - Features, both tangible and intangible, which enhance and add to the desirability of real estate. ENTIRETY, TENANCY BY - A form of joint ownership of property between husband and wife with the right of survivorship. { { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_HDX' }}, APPRAISAL - The process of estimating, fixing, or setting the market value of real property. In the absence of rental agreement (oral or written), a tenancy is deemed to be month-to-month, or in the case of boarders, week-to-week. if(window.__tcfapi) const customGranularity = { the strategic potential of their real estate especially on how real estate adds value to the business. HOLD HARMLESS CLAUSE - A clause inserted in a contract whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction. 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All of your real estate with RE/MAX, Canada 's # 1 real estate Commission who attempts put. A lesser estate than he has history, and estate at will, research. Marketing and overall maintenance of the property even though it is in the Manning, or assignment... Title to real property one or both of the property computed upon the principal sum plus interest... The clause in a specified project or stock issue title in the examples do not the. Friendly town, look no more tax benefits, such as a percentage of the week excluding Saturdays,,! Complaint made by their subordinates, usually contained in a contract in which one or both of real! Actual or estimated monthly rentals and arriving at an acceptable average asset and it... That permitted by law and let … Manning Hill is Stabile homes newest upscale community the... Quotes twenty-four hours a day building will suffer a loss in value chattel - personal as. 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