Abandonment
•the act of voluntarily giving up a right (of ownership or lease or any other right) over a property.
Absentee Landlord / Owner
•owner of a property who resides elsewhere (usually in another city or country).
Abatement Notice
•a notice served on the owner(s) or occupier(s) of a property from which a private nuisance arises, warning them of the intention to enter on the land in order to abate the nuisance.
Absolute Title
•clean title, free of liens or attachments, replacing all previous titles. accepted as the sole document of title, it is defensible against claims by third parties
Absorption
•it is the acceptance by the carrier of a portion of a joint rate or charge. in the absence of such joint rate, it is less than the amount that it would receive for the service
Abstract
•summary of a lengthy document or piece of writing which contains all or most of the salient points of the original.
Abstract Of Judgment,Law
•the summary of a court judgment that creates a lien against a property when filed with the county recorder.
Accelerated Cost Recovery System
•a tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property
Accelerated Depreciation
•a bookeeping method that allows an owner to deduct a greater portion of the cost of depreciated property in the years right after it is bought
Acceleration Clause
•the section of a mortgage document that allows the lender to speed up the payment date in the event of a default, making the entire principal amount due
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