Buying Florida Home In
Buying Florida Home In
Buying Florida Home In

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Real Estate Terms of the Day for Buying Florida Home In



PRO FORMA STATEMENT
A projection of future income and expenses.

RIPARIAN
Those rights and obligations which are incidental to ownership of land adjacent to or abutting on watercourses such as streams and lakes.

NOTICE OF DEFAULT
A notice to a defaulting party that there has been a default, usually providing a grace period in which to cure the default.

MARGINAL LAND
Land which is of little value because of some deficiency, such as poor access, lack of adequate rainfall, or steep terrain.

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.

LAND DESCRIPTION
A description of a particular piece of real property.

ACCELERATED DEPRECIATION
A method of calculating the depreciation of certain property (that property which is used in a trade or business, or which is held for the production of income) at a faster rate than would be achieved from using the straight line method of depreciation.

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