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Real-Estate

PREV DEFINITIONMutationThe legal process of changing property records to reflect ownership, boundary, or other important changes, or transferring property ownership, is known as mutation in real estate. Read More
NEXT DEFINITIONOperating LeaseOperating lease is a contract wherein the owner, called the Lessor, permits the user, called the Lesse, to use of an asset for a particular period which is shorter than the economic life of the asset without any transfer of ownership rights.Read More

What is 'Open end Mortgage'Definition: Open-end mortgage allows the borrower to borrow additional money on the same loan amount up to a certain limit. Description: Open-end mortgage saves borrower the effort of going somewhere else in search of a loan. It is a type of rotating credit wherein the borrower is entitled to get top up on the same loan subject to a prescribed ceiling. The banks normally decide a loan to value ratio and see that the combined loan (the original as well as the top up) does not exceed the stipulated loan tom value ratio.

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SALE DEEDOPEN-END MORTGAGEROTATING CREDIT

PREV DEFINITIONMutationThe legal process of changing property records to reflect ownership, boundary, or other important changes, or transferring property ownership, is known as mutation in real estate. Read More
NEXT DEFINITIONOperating LeaseOperating lease is a contract wherein the owner, called the Lessor, permits the user, called the Lesse, to use of an asset for a particular period which is shorter than the economic life of the asset without any transfer of ownership rights.Read More

Related Definitions

Affordable Housing
Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income. Description: Though different countries have different definitions for affordable housing, but it is largely the same, i.e. affordable housing should address the housing needs of the lower or middle income households. Affordable housing becomes a key issue e
Agreement Of Sale
An agreement of sale constitutes the terms and conditions of sale of a property by the seller to the buyer. These terms and conditions include the amount at which it is to be sold and the future date of full payment.Description: Being an important document in the sale transaction, it enables the process of sale to go through without any hurdles. All the terms and conditions included in the agreeme
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: This is a loan underwriting decision that is totally computer-generated. Description: It is irrational to expect zero mistakes from humans. Whenever a financial institution receives loan application, processing it and taking the correct decision as to its sanction are quite time consuming and prone to human errors. On the other hand, automated underwriting involves screening of loan applic
Balloon Mortgage
: A balloon mortgage is a financing mechanism where the payments are not fully amortized over the term of the loan. Sometimes the borrower needs to pay only the interest on the loan. As the loan is not fully amortized, the borrower needs to pay a large sum of money at maturity, in some cases the full principal, in order to close the loan. As the closure amount is often large, this is called ballo
Base Rent
Base rent is the minimum rent that is applicable in a leased property and payable to the landlord. This rent is subjected to revision from time to time.Description: Normally the base rate escalation of the property is calculated on an annual basis. The escalations are done in accordance with the terms and conditions of the lease agreement.Check out: Direct To Home Definition, Non Tax Revenue Defi
Bridge Loan
Bridge loan is a type of gap financing arrangement wherein the borrower can get access to short-term loans for meeting short-term liquidity requirements.Description: Bridge loans help in bridging the gap between short-term cash requirements and long-term loans. These loans are normally extended for a period of 12 months. These loans are provided at exorbitant rate of interest and are normally back
Broker
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Bungalow
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Capital Lease
Capital lease is a lease agreement in which the lessor agrees to transfer the ownership rights to the lessee after the completion of the lease period. Capital or finance leases are long term and non cancellable in nature. Description: In a capital lease, the lessor transfers the ownership rights of the asset to the lessee at the end of the lease term. The lease agreement gives the lessee a bargai
Capitalization Rate
Capitalization rate, commonly known as cap rate, is a rate that helps in evaluating a real estate investment.Cap rate = Net operating income / Current market value (Sales price) of the assetDescription: Capitalization rate shows the potential rate of return on the real estate investment. The higher the capitalization rate, the better it is for the investor. Net operating income, one of the metrics