Homeowner Education

The latest news, tips, and tricks for homeowners

Lot Size

Lot size is the land you own according to the survey of boundary lines determined by the city. Square footage is the usable space in

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Listing

An arrangement, agreement, or contract for the marketing of real property through one or more real estate agents usually for a specific period.

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Lien

A lien is a claim made on a property in order to satisfy a debt. Liens are often applied to real estate, although an entity

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Letter of Intent

A letter of intent provides a formal, but preliminary, agreement between two parties who intend to do business with each other. They are frequently used

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Lessor

A lessor is a person who grants a lease. The lessor wants to retain ownership of a property, vehicle or other equipment, so he leases

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Legal Description

A legal description is the geographical description of real estate that identifies its precise location, boundaries and any easements for the purpose of a legal

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Lessee

A lessee, also known as a tenant, is a person who rents land or personal property from the owner, or lessor.

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Leasehold Estate

A leasehold estate refers to the exclusive right of a tenant to occupy a property for a period of time. Usually a written lease agreement

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Lease Option

A lease option is a written agreement in which an owner allows a person to use a property in exchange for rent, and also gives

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Leased Equipment

Equipment leasing allows owners to rent equipment from a leasing company or vendor for a specific period of time. Typical items are water softeners and

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