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| Kalpesh Shah |
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Fair Credit Reporting Act
A consumer protection law that regulates the disclosure of consumer credit
reports by consumer/credit reporting agencies and establishes procedures for
correcting mistakes on one’s credit record.
Fee
Simple
The greatest possible interest a person can have in real estate.
The greatest possible interest a person can have in real estate.
Fibro
Cement
Building material made of compressed fibres cemented into rigid sheets.
Building material made of compressed fibres cemented into rigid sheets.
FID
Financial Institutions Duty. State duty on the receipts of financial institutions.
Financial Institutions Duty. State duty on the receipts of financial institutions.
Fiduciary
A person who essentially holds the character of a trustee. Real Estate agents and salespersons are considered by law to be fiduciaries, thus they have a duty to act primarily for the benefit of the principal (the person who employed them) and not their own. A fiduciary must act with the highest degree of care and good faith in relations with the principal and on the principal’s business. Penalties for failing in fiduciary duties may be quite severe.
A person who essentially holds the character of a trustee. Real Estate agents and salespersons are considered by law to be fiduciaries, thus they have a duty to act primarily for the benefit of the principal (the person who employed them) and not their own. A fiduciary must act with the highest degree of care and good faith in relations with the principal and on the principal’s business. Penalties for failing in fiduciary duties may be quite severe.
First
Mortgage
A mortgage that is the primary lien against a property.
A mortgage that is the primary lien against a property.
Fittings
Objects that can be removed from a property without causing damage to it.
Objects that can be removed from a property without causing damage to it.
Fixed
Instalment
The monthly payment due on a mortgage loan. The fixed instalment includes payment of both principal and interest.
The monthly payment due on a mortgage loan. The fixed instalment includes payment of both principal and interest.
Fixed
Rate Mortgage
A mortgage in which the interest rate does not change during the term of the loan.
A mortgage in which the interest rate does not change during the term of the loan.
Fixtures
Fixed items that cannot be removed without damaging either the property or the fixture itself, eg: cupboards.
Fixed items that cannot be removed without damaging either the property or the fixture itself, eg: cupboards.
Footing
The footing supports the building on its foundation.
The footing supports the building on its foundation.
Foreclosure
The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually results in the selling the property by auction and the proceeds being used to service the mortgage debt.
The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually results in the selling the property by auction and the proceeds being used to service the mortgage debt.
Freehold
An estate in real property which continues for an indefinite period of time. Freehold estates may be inheritable or non-inheritable. Inheritable estates include the fee simple absolute, the qualified fee, and the fee tail. Non-inheritable estates include various life estates which are created by acts of parties, such as an ordinary life estate, or by operation of law.
An estate in real property which continues for an indefinite period of time. Freehold estates may be inheritable or non-inheritable. Inheritable estates include the fee simple absolute, the qualified fee, and the fee tail. Non-inheritable estates include various life estates which are created by acts of parties, such as an ordinary life estate, or by operation of law.
For More Details Please Contact Office :- 2895 32 32 / 2894 87 47 Fax :- 2890 63 63 Mobile :-Neeta- 9821411063
Skype Id:- neeta.shah30
Email: neeta@aasharealtors.co.in
Blog: http://aasharealtor.blogspot.com
Web: www.aasharealtors.co.in
Shop No. 2 & 11 , Shailesh Apartments, Borivali West, Mumbai - 400103.
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