Free FSBO Listing on 10Realty.com
Free FSBO Website

 

Real Estate Terms / Real Estate Dictionary


Click on a Letter to lookup a Real Estate Legal Term


Define:   this site   Google

-V-

VA Guarantee
An insurance contract in which the Veterans Administration (VA) insures that the named lender will recover a specific percentage of the loan amount from the insurer in the event that the loan goes bad.

Vacancy Allowance
An estimate of the amount of rent that may be foregone because of unoccupied units.

Valuation
See Appraisal.

Variable Expenses
Those costs which vary according to the extent to which a property is occupied. For example, janitorial services in an office building.

Variable Interest Rate
An interest rate that fluctuates based on the changes of an underlying interest rate index.

Variable Rate Mortgage
A loan being repaid by payments which change as the market interest rate changes.

Vendee
Purchaser or buyer, especially on a land contract.

Vendor
A person who transfers property by sale. Another word for "seller".

Vendor's Lien
A lien either express or implied given to a vendor for the remaining unpaid and unsecured part of a purchase price. The seller has the right to take back possession of a sold property until its purchase price has been received from the buyer.

Vendor's Statement of Adjustment
Closing Statement which shows the net amount of proceeds to be received by the vendor upon completion of the transaction. See also Statement of Adjustment.

Venue
Used to refer to the county or place in which an acknowledgment is made before a notary; also refers to the county in which a lawsuit may be filed or tried.

Vested
Having the rights of ownership, although those rights may be delayed until a future date.

Vertical Support
The right of land to be supported by the land which lies under it.

Void Contract
A contract which never had any legal existence or effect and which is not capable of being enforced.

Voidable Contract
A voidable contract, unlike a void contract, is a valid contract. At most, one party to the contract is bound. The unbound party may repudiate the contract, at which time the contract is void. (For example, depending on the jurisdiction, a contract with a minor may be a voidable contract)
.

1 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

The definitions of Real Estate Definitions found on 10Realty.com are for general information only. All information is subject to change and should be independently verified. 10Realty.com makes no representations or warranties of any nature with regard to the information found on the pages therein. 10Realty.com assumes no responsibility for any liabilities or losses claimed or incurred as a result of using this information. (Real Estate Terms, Investment Terms, Banking Terms explained, definitions, legal definitions, legal terms and definitions)

 

 



10Realty.com - Free For Sale by Owner Website! Sell your home yourself & save! Create a free for sale by owner listing for your Home, Condo, Land, Lake House, Beach House, Mobile Home, Commercial real estate & more!

Contact us Privacy Policy Terms of Use

 

Located in Knoxville, TN
Copyright © 2000-2016