Real Estate Terms [6]

May 14, 2011     Posted under: Investment

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Break Clause: A clause in a lease which gives the landlord and/or the tenant the right, in specified circumstances, to terminate the lease before its normal expiry date. It usually defines the length of the notice to be given and may be subjected to contractual or statutory financial provisions.

Break-Up Value: The value of a specific property, for example, an estate of land and building, based on the assumption that it is sold in parts in such a manner so as to achieve the best possible price.

Brick and Mortar Stores: Brick and mortar stores refer to retail shops that are located in a building as opposed to an online shopping destination, door-to-door sales, kiosks or other similar sites not housed within an enclosed structure.

Bridge financing: A loan which allows the borrower to tide over some immediate requirement while he awaits a more permanent or long-term solution to his financial needs

Brokerage: The fee charge paid to a broker to act as an intermediary between the buyer/lessee and the seller/lessor. The broker’s activity is to bring together two parties in a transaction. Also referred to as brokerage commission.

Brownfield: A land, previously or certain commercial uses, which may be contaminated by low concentrations of hazardous waste or pollution. It has the potential to be reused once it is cleaned.

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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