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PROPERTY MANAGEMENT That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others. CERTIFICATE OF ELIGIBILITY Document issued by the Veterans Administration to qualified veterans which verifies a veteran's eligibility for a VA guaranteed loan. Obtainable through local VA office by submitting form DD-214 (Separation Paper) and VA form 1880 (request for Certificate of Eligibility). MASTER PLAN A comprehensive plan to guide the long-term physical development of a particular area. ATTORNMENT The act of a tenant formally agreeing to become the tenant of a successor landlord; as in attorning to a mortgagee who has foreclosed on the leased premises. SETBACK Zoning restrictions on the amount of land required surrounding improvements; the amount of space required between the lot line and the building line. JOINT TENANCY A form of ownership of property giving each person equal interest in the property, including rights of survivorship. SIMPLE INTEREST Interest computed on the principal balance only. PERCENTAGE LEASE A lease whose rental is based on a percentage of the monthly or annual gross sales made on the premises. |
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