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CLOUD ON TITLE Any document, claim, unreleased lien or encumbrance which many impair or injure the title to property or make the title doubtful because of its apparent or possible validity. QUITCLAIM DEED A deed of conveyance which operates, in effect, as a release of whatever interest the grantor has in the property; sometimes called a release deed. BASIS The financial interest which IRS attributes to the owner of an asset for purposes of determining annual depreciation and gain or loss on sale of the asset. PROPERTY MANAGEMENT That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others. CERTIFIED PROPERTY MANAGER A professional property manager who has qualified for membership in and is a member of the Institute of Real Estate Management, and is designated a CPM. LOAN-TO-VALUE RATIO The ratio that the amount of the loan bears to the appraised value of the property or the sales price, whichever is lower. RECORDING The act of entering documents concerning title to a property into the public records. |
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