L – Compendium of Real Estate Terms & Concepts

Liquidation value in place is the estimated gross amount expressed in terms of money that could typically be realized from a failed facility, assuming that the entire facility would be sold intact within a limited time to complete the sale, as of a specific date.

Liquid asset can be defined as an asset's ability to be sold at the earliest for the purpose of investment or to meet payment obligations (such as corporate debt) without causing any major changes in the price or loss on its value.

LCC is the cost of the building over its lifetime, in present value-terms, which includes all costs associated with the planning, design, construction, operations, maintenance and capital improvements over time and ultimately the cost of disposition.

Lien is the right to take another's property if an obligation is not discharged. Lien is a legal claim or a "hold" on some type of property, whether personal or real property, making it collateral against monies or services owed to another person or entity.

Liability arises where a person commits a wrong which is recognised as such in law. In this respect, distinction must be made between legal and moral wrongs and between every day usage of the term and its legal usage.

This is a technique used by investors to enhance the return on their equity. They buy the property by investing small portion of their own money and the balance is borrowed. They mortgage the property to secure the capital. In other words it is the effect of borrowed capital upon…

Letter of intent is one way that consultants can outline the services that they are expected to provide a client. Letter of intent is usually used where an employer wishes to have some work commenced by the contractor before a formal contract has been agreed and signed by the parties.…

All people have rights, which the law will protect, and they also have duties which the law will enforce. A duty is often the converse of a right. The concept of rights may also be contrasted with wrongs, but law is concerned only with legal wrongs and not moral wrongs…

Scholasticus (2010) indicated that there are several different types of contracts that can come into existence. A lease is one such contract that people commonly use to rent out real estate and even assets. When it comes to leasing a real estate, there are several types of possible contracts. In…

A lease is an agreement conveying the right to use property, plant, and equipment (PP&E) usually for a stated period of time. The party that gets the right to use the asset is called a lessee and the party that owns the asset but leases it to others is called…