C – Compendium of Real Estate Terms & Concepts

A contract is a legally binding agreement or relationship that exists between two or more parties to do or abstain from performing certain acts. A contract can also be defined as a legally binding exchange of promises between two or more parties that the law will enforce. The main distinction…

Conservation is a concept of many meanings. Environmentalists visualize it as a moral issue tied up with man’s responsibility to safeguard certain resources for the use of future generations. Technology workers sometimes identify it with the physical techniques they use to retard soil erosion, plant trees or manage animals. The…

In Business dictionary (2012), conflict of interest is defined as a situation that has the potential to undermine the impartiality of a person because of the possibility of a clash between the person's self-interest and professional interest or public interest; or a situation in which a party's responsibility to a…

In the context of building contracts, a collateral warranty is an agreement entered into by someone engaged in the construction or design of a building. Within this agreement that person takes on a duty in seeing that the building is free from defects for the benefit of someone else who…

In the context of building contracts, a collateral warranty is an agreement entered into by someone engaged in the construction or design of a building. Within this agreement that person takes on a duty in seeing that the building is free from defects for the benefit of someone else who…

Accounts: This deals with the income and expenditure of the firm and the firm’s client. The Estate Surveyor performs the following functions:

The need for a system of justice arose primarily to ensure that people live together in peace and harmony. In the absence of a system of justice, people will pursue self-interest without restraint, even at the expense of others. In such circumstance, oppression and anarchy shall be the order of…

As stated in Wikipedia (2020), a charlatan (also called swindler or mountebank) is a person practicing quackery or some trick in order to obtain money, fame or other advantages via some form of pretence or deception. The word comes from French charlatan, a seller of medicines who might advertise his…

Community Affairs, Security, Health, Environment and Safety (CASHES) policy: This is a policy which is committed to avoiding injury to an individual and the preservation of the health and safety of employees and any other persons, who may at any time, be affected by the activities of a particular organisation;…

Cash Flow is the amount of money that remains after Debt Service is subtracted from Net Operating Income. Debt Service includes both the interest and principal reduction and is subtracted from Net Operating Income. A property owner will want to know if the property is producing sufficient NOI to pay…