A real estate transaction is the legal sale and transfer of a property through written contracts. The transaction conveys the property’s mortgage and interest to a new party.
Office, retail, and industrial leases are contracts between a landlord and a business for the rental of a property in order to use it as a commercial space. The business makes a monthly payment to the landlord to use the property for commercial purposes.
Residential real estate is the sale or leasing of condos or single-family homes to individuals and families. Commercial real estate is the leasing or sale of properties for retail businesses, office spaces, industrial sites, or hotels. A real estate purchase legally transfers the ownership of the property to another party while leasing does not. Leasing requires the tenant of either a commercial or residential sale to make monthly payments to the owner, or landlord, in order to use the property.
A real estate property acquisition is the process of gaining ownership of or interest on a property. A real estate divesture is the process of surrendering ownership of or interest on a property.
Construction and permanent financing is a type of loan used to finance the construction of a home. When construction is complete, the loan turns into a mortgage on the home and allows for a single set of closing costs instead of two.
A tenant-landlord relationship is created in the eyes of the law as soon as a lease is signed. The landlord is the owner of the property while the tenant is the renter of the property. The tenant agrees to pay the landlord a monthly fee to use the property during a specified time period.
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