Real Estate
Glossary
This glossary has been provided to help Colorado Springs
homebuyers understand the unique language
of the real estate business.
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base:
The assessed valuation of all real property which lies within
a taxing authority's jurisdiction is known as Tax base. When
this is multiplied by the tax rate, it determines the amount
of due tax.
Tax lien:
This is a legislative lien for the nonpayment of property taxes
which attaches only to the property upon which the taxes are
unpaid
Tax roll:
It is a list which contains the descriptions of all land parcels
located within the county, the names of the owners and those
who receive the tax bill, assessed values and tax amounts.
Tenant:
Tenant is someone who rents real estate from another and holds
an estate by the virtue of a lease.
Tenant at will:
Someone who holds possession of premises by permission of the
owner or landlord is known as Tenant at will. Here the characteristics
of the lease are an uncertain duration and the right of either
party to terminate on proper notice.
Tenant mix:
The phrase describes the quality of a property's income stream.
In the multi-tenanted properties, the institutional investors
normally fancy a mixture of national credit tenants, regional
credit tenants and local non-credit tenants.
Title:
It means whereby the landlord has the just and full possession
of the real property.
Title insurance:
This is a policy that issued by a title company that insures
against the loss resulting from defects of title to a specifically
described parcel of real property, or from the enforcement of
liens existing against it at the time the title policy is issued
Triple net lease:
This is a kind of lease which requires the tenant to pay all
expenses of the property being leased in addition to rent. Typical
expenses covered in such a lease include taxes, insurance, maintenance
and utilities.
Trustee:
The trustee oversees the flow of funds through the CMBS structure
on behalf of the bondholders. The trustee is responsible for
collecting principal and interest from the service, distributing
payments to bondholders and reporting to bondholders.
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