It’s used in real estate—mainly in commercial leases—to make sure everyone agrees on the lease details, like how much rent is and if there are any special rules. A tenant estoppel certificate is pretty much the same thing, but makes it clear that it’s the tenant who is confirming o...
You need to purchase title insurance as part of your mortgage process. However, owner’s title insurance might be optional, but lender’s title insurance will always be mandatory. Most real estate experts advise buying both. Why? Well, there have been incidences where an older document proves ...
In the real estate world, the document that used to be called a settlement statement has evolved over time into what is now known as a closing disclosure. However, many still use the term, so you might come across it in the process of closing your mortgage loan. A settlement statement ...
PMI is a type of insurance that protects the lender should you default on your mortgage. It applies when you make a down payment under 20 percent. MIP A mortgage insurance premium (MIP), is a type of mortgage insurance that comes with a Federal Housing Administration (FHA) insured mortgage...
How Professional Liability Insurance Works Depending on the type of business, professional liability insurance may have different names, such as medicalmalpractice insurancefor the medical profession orerrors and omissionsinsurance for real estate agents. Professional liability insurance is a specialty coverage...
Real estate professionals Is professional indemnity insurance compulsory? Not all occupations are legally required to take out professional indemnity insurance. But even if coverage is not always compulsory, industry experts advise most individuals and companies to purchase this type of f...
How civil union members are treated is also affected by definitions outside of statutes. For instance, a civil union member or his or her biological descendants may not qualify under the definition of spouse or heir in someone else’s estate planning documents or a life insurance policy. ...
an estate refers to everything of value that an individual owns—real estate, art collections, antique items, investments, insurance, and any other assets and entitlements—and is also used as an overarching way to refer to a person's net worth. Legally, a person's estate refers to an ind...
Industries are evolving toward more “green,” environmentally friendly practices, and the world of real estate is knocking on the very same door with products like green insurance. How green home insurance works Green (or eco) insurance provides an environmental incentive for homeowners insurance ...
Commercial Auto Insurance Guide for Business Owners What Is an Asset? FAQ What are examples of assets? Examples of assets include: Cash, stocks, bonds, mutual funds, real estate, vehicles, art, jewelry, antiques, collectibles, accounts receivable, prepaid expenses, inventory, machinery, equipment,...