Dictionary

Listing

Definition:   a written employment agreement between a property owner and a real estate broker or sales agent authorizing the broker/agent to find a buyer or tenant for certain real property...

Lis Pendens

Definition:    notice of a pending action involving title or possession of real property; action pending Pronunciation: Used in a Sentence:   A lis pendens informs the public that a legal...

Liquidity

Definition:   The ability to sell an asset and convert it into cash at a price close to its true value. Pronunciation:    \li-ˈkwi-də-tē\ Used in a Sentence:    Publically traded stocks...

Liquidation

Definition:   the process of determining liabilities and apportioning the assets in order to discharge the indebtedness of a business to be sold Pronunciation:  \ˌli-kwə-ˈdā-shən\ Used in a Sentence:   A liquidation...

Liquidated Damages

Definition:   the amount of valuable consideration specified in an agreement as a penalty for default Pronunciation:   \ˈli-kwə-ˌdāt\ \ˈda-mij\ Used in a Sentence:    Some contracts have a special box for parties...

Lineal

Definition:   descended in a direct family line; related by a direct series of parents and children Pronunciation:  \ˈli-nē-əl\ Used in a Sentence:   He claims he is a lineal descendant of a...