Real Estate Terms [1]

Apr 16, 2011     Posted under: Investment

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Asset Management: Active approach to asset acquisition/disposal and property management with the objective of optimizing asset performance

Asset Valuation: In the property market, this expression is applied to the valuation of land and buildings or plant and machinery. The term is often used to describe and expert opinion on the worth of a property which may be incorporated into company accounts, where the ownership of the asset is not necessarily to be transferred but the valuation is of interest to, for example, shareholders or is required for company takeovers, share floatation or mortgages.

Assignment of Lease: The transfer by a lessee of all his rights over a leased property. In such a case, the assignee becomes a lessee under the original lessee. Some leases contain clauses specifying the conditions under which leases can be assigned. Assignment of lease if different from sub-lease and the two should not be used as synonyms.

Association Dues: Refers to chares for building and common area maintenance. This is also sometimes referred to as condominium dues.

Assumption of Deed of Trust: An agreement by which a buyer agrees to take over the liabilities for the payment of an existing mortgage or deed of trust.

NitiN Kumar Jain

Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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