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A form of insurance in which the insurance company protects the insured from specified losses, such as fire, windstorm and the like.
A gap or space left between two parcels of land and not included in the legal description of either parcel. Similar terms are Gaps and Gores.
HOME CONTENT INSURANCE
An insurance policy that covers the replacement cost of all contents in a property; for example TV, washing machine, beds, etc.
A declaration filed in the land records that an individual is asserting his homestead exemption. That exemption allows one to protect some assets (amount varies by state) against the claims of creditors.
The ratio, expressed as a percentage, which results when a borrower’s housing expenses are divided by his/her gross monthly income.
see DEBT-TO-INCOME RATIO
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*Please note that information provided is as it is basis, whilst every effort has been made to provide up-to-date information. The author is not responsible for inaccuracies or whatsoever as a result from using this information.
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