Here are 5 real estate words to increase your vocabulary.
1- C.L.U.E.
A C.L.U.E report is a comprehensive Loss Underwriting Exchange. It is a file that is compiled on you by the insurance industry.
2- Commingling
Commingling is to mix funds held in trust with other funds. Example a builder or broker hold funds in trust ( should be deposited into trust account) instead the money is deposited in to a general account.
3- Slant Drilling
Slant drilling is a method of drilling fo oil or gas in an ajoining property when property rights have not been granted.
4- GNMA
GNMA (Ginnie Mae) Goverment National Mortgage Assoication. A federal association working with F.H.A. , which offers special assistance in obtaining mortgages and purchase mortgages.
5- Abstract of Titile
Abstract of title is a compilation of the recorded documents relating to a parcel of land, from which an attorney may give an opionion as to the condition of the title.
Posted By:
Susan Jacobs
Real Estate Collaboration Specialist-Divorce
Samson Properties
703-347-4418
email: Susan@SusanOJacobs.com
website www.SusanJacobs.com
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