Definitions
Frequently Asked Questions | Definitions-
Bona Fide
In good faith, without fraud.
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Building Permission
Written permission from the relevant government agency for the construction or renovation of a building.
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Capital Appreciation
The increase in value of a real estate asset over time.
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Capital Improvement
Any structure erected as a permanent improvement to real estate increasing the value and extending its useful life.
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Chattel
Personal property such as household fixtures.
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Client
An individual who employs a broker.
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Conveyance
The transfer of the certificate of title from one individual to another.
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Earnest Money
Down payment made by purchaser in evidence of good faith prior to signing of agreement for sale.
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Easement
A right registered on title which may be exercised by the public on, over or through the lands of others.
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Equity
The value which an owner has in real estate after taking into account the liens against it.
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mpbell@mbellrealtors.com
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