Welcome back to RealtyMyths weekly word wizard. Here are some real estate terms that you should know.
Deed – A legal document, duly executed and delivered by the grantor that conveys to the grantee some right, title or interest in or to real estate.
Delinquency – A loan in which a payment is overdue but not yet in default.
Easement – A right of way giving persons other than the owner access to or over a property.
Effective Gross Income – The scheduled gross income of a property minus the vacancy rate.