Real Estate Term of the Day: Lead-Based Paint LEAD-BASED PAINT – considered a hazardous material. It is potentially poisonous and its existence in property is to be disclosed to a buyer. Its presence is often difficult to determine because applications of lead-based paint may have been covered by more recent paint applications that are free … More Real Estate Term of the Day: Lead-Based Paint
Real Estate Term of the Day: Latent Defects LATENT DEFECTS – flaws that are hidden but are apt to surface later. (Barron’s Dictionary of Real Estate Terms) In a Colorado real estate transaction, a seller typically uses the Colorado Real Estate Commission approved Seller’s Property Disclosure to disclose material latent defects. The Seller’s Property Disclosure has 13 sections regarding … More Real Estate Term of the Day: Latent Defects
Real Estate Term of the Day: Landlord, Lease, Lessor, Lessee, Rent, Tenant LANDLORD – one who rents property to another; a lessor. A property owner who surrenders the right to use property for a specific time in exchange for the receipt of rent. (Barron’s Dictionary of Real Estate Terms) LEASE – a contract in which, for … More Real Estate Term of the Day: Landlord, Lease, Lessor, Lessee, Rent, Tenant
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