Dictionary

Bylaws

Definition: The rules that govern the administration of a condominium. Pronunciation: \ˈbī-ˌlȯ\ Used in a Sentence:   The condos bylaws prohibit dogs over 50lbs.

Buyer’s Market

Definition: The inventory of available properties exceeds the demand. Pronunciation: Used in a Sentence:   We were able to get a better price on the house due to the buyer’s market.

Buyer Brokerage Agreement

Definition: An employment contract with a buyer. Pronunciation: \ˈbī(-ə)r\ \ˈbrō-k(ə-)rij\ \ə-ˈgrē-mənt\ Used in a Sentence:   The prospective buyer signed a buyer’s brokerage agreement with the agent.

Business Trust (syndicate)

Definition: A business entity formed by any number of persons who make an investment at a stipulated amount per unit.  The monies collected in this manner are then used to buy,...

Bundle Of Legal Rights

Definition: An ownership theory describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession and control. Pronunciation: \ˈbən-dəl\  \ˈlē-gəl\ Used in a Sentence:   The...

Building Codes

Definition: Government regulations controlling construction practices and materials. Pronunciation: \ˈbil-diŋ\ Used in a Sentence:   The inspector checked to make sure the construction conformed to the building codes.