Date agreed to by both parties to a real property transaction for the adjustment of property taxes, rent, interest, and other items.

A written statement of facts, the contents of which are sworn under oath to be true by the person making the statement. An affidavit is sometimes used in court proceedings as evidence in place of oral testimony.

A contract by which the owner of land (vendor) agrees to sell land to another (purchaser) who aggress to purchase it. The purchaser's interest is registered in the Land Title Office as a charge against the vendor's certificate of title. The contract provides that the purchase price will be paid by instalments.

The number of years needed to fully repay a loan. Most mortgages are amortized over 25 years. This means that by making set monthly payments - each a blend of interest costs and repayment of the original principal - you'll have paid back the original amount and all the interest in 25 years. You can however choose different amortization periods [..]

The estimation of the value of a legal interest in land.

Transaction in which the parties involved are not inclined towards making voluntary concession to each other.

Appraisal, usually for real property taxation purposes.

Items of value owned by a business. Contrast to Liability.

A Mortgage that allows a purchaser to assume or take over the responsibility and liabilities under the mortgage from a vender.

A financial statement listing Assets, Liabilities, and Owner's Equity at a specific point in time. Also known as a Statement of Financial Position or Statement of Assets and Liabilities.