F – Compendium of Real Estate Terms & Concepts

Putting it in simple legal terms, when two or more competent parties voluntarily and legally sign an agreement, which binds them together, it is called a contract. Sometimes, you as a seller or buyer, while selling or buying products, may have to sign an agreement or contract with the other…

Forfeiture is an order of court terminating the interest of the tenant for various reasons i.e. an act by which the court allows the landlord to retake the premises and thus part an end to the relationship. However, before a landlord can take advantage of this mode of terminating, he…

These are regarded as documents issued by the bank or a financial institution showing a detail analysis of how finances were being paid or withdrawn by individuals or corporate bodies. This is actually an overview of how money is being withdrawn or deposited in an account. It is a form…

A capital lease is called a ‘finance lease’ by the IFAC. A finance lease or capital lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. According to Business Victoria (2008), finance leases are those in which the rights, duties and privileges…

In the world of commerce, there are several commercial relations that come into existence. Fiduciary duty is one of such relation that has a very different nature and it is a moral as well as a contractual obligation of a trustee. The element of 'trust' is an important component of…

Financial Reporting Standard (FRS) in Wareham Cameron & Co Ltd & others (2003) defined Fair value as the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction. Other terms commonly used to describe fair value include market value,…

Fair Market Value in Continued Use is the estimated amount, expressed in terms of money, that may reasonably be expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither...

Fair Market Value - Removal is the estimated amount, expressed in terms of money, that may reasonably be expected for a property, between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy...

FMV is the estimated amount, expressed in terms of money that may be reasonably expected for a property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, as…

Fair Market Value - Installed is the estimated amount, expressed in terms of money that may reasonably be expected for an installed property in an exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion...