Dictionary

Definition:   a lease whose rental is based on a percentage of the monthly or annual gross sales made on the premises Pronunciation:   \pər-ˈsen-tij\ \ˈlēs\ Used in a Sentence:    When we opened th...

Definition:   a provision in a mortgage that requires the borrower to pay a penalty in money if the mortgage payments are made in advance of the normal due date or if the mortgage is paid in full a...

Definition:    an association of two or more persons who carry on a business for profit as co-owners and share the profits and losses Pronunciation:  \ˈpärt-nər-ship\ Used in a Sentence:     The tw...

Definition:    property subject to taxation, but the owner is partially relieved of the burden Pronunciation:   \ˈpär-sh(ə-)lē\ \ig-ˈzem(p)t\ Used in a Sentence:    By having our property homestead...

Definition:   a mortgage provision under which the mortgagee agees to release certain parcels from the lien of the blanket mortgage upon payment of a certain sum of money Pronunciation:    \ˈpär-sh...

Definition:   an agreement that is not in writing, an oral agreement Pronunciation:   \ˈper-əl, ˈpa-rəl\  \ə-ˈgrē-mənt\ Used in a Sentence:    Some parol contracts are recognized by law as enforcea...

Definition:   a loan covering both real and personal property Pronunciation:   \ˈpa-kij\ \ˈmȯr-gij\ Used in a Sentence:    When buying the restaurant we used a package mortgage to include the cook...

Definition:    an unlicensed entity that sells, exchanges or leases its own property Pronunciation:   \ˈō-nər\ \di-ˈvel-lə-pər\ Used in a Sentence:    We worked directly with the owner developer of...

Definition:    title insurance issued for the total purchase price  of the property to protect the new owner against unexpected risks Pronunciation:   \ˈō-nərz\ \ˈpä-lə-sē\ Used in a Sentence:    W...