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TRUST FUND ACCOUNT An account set up by a broker at a bank or other recognized depository, into which the broker deposits all funds entrusted to him by his principal or others. ENTIRETY, TENANCY BY A form of joint ownership of property between husband and wife with the right of survivorship. POWER OF ATTORNEY Legal document authorizing one person to act on behalf of another. BUNDLE OF RIGHTS An ownership concept describing all those legal rights which attach to the ownership of real property, including the right to sell, lease, encumber, use, enjoy, exclude, will, etc. QUALIFIED FEE An estate in fee which is subject to certain limitations imposed by the owner. PERMANENT FINANCING A long-term loan, as opposed to an interim loan. |
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