The bankrupt s assets are distributed by the court to the creditors as full satisfaction of the debts in accordance with certain priorities and exemptions. The debtor petitions for voluntary bankruptcy. Involuntary, is petitioned for by the creditors. C CAP - A maximum amount of charge. A term used to describe the restrictive limitations, which may be placed, on property.
Banks are generally more active in construction loans rather than long term real estate financing.
An amount, usually a percentage, paid to an agent as compensation for his services. The amount to a real estate agent is generally a percentage of the sale price. The balance of the property is called the common area. Generally based upon offer and acceptance. Includes most instruments by which an interest in real estate is created, mortgaged or assigned.