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Property

Rental advance

An important term in the world of finance is the advance rent payment, also known as a lump sum payment, made by a tenant to the landlord at the start of a lease. This amount is then spread out over the lease term, offsetting the monthly rental payments. The advance rent can vary from 3 to 18 months, depending on factors such as the city, type and location of the property, and the duration of the lease. This is a crucial consideration for both landlords and tenants when negotiating a lease agreement.

Clearance area

A significant aspect of urban development is the concept of land clearance. This entails the removal of all constructions within a designated area, usually initiated by a go...

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Open market value

In the realm of finance, we often come across the term 'best price'. This refers to the highest amount that can be obtained for a property when it is sold under fair and unb...

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Xystus

A covered colonnade, known as a stoa, served as a gathering place and exercise area for ancient Greek athletes. Similarly, a garden walk, often lined with trees, provides a ...

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Absolute title

A mortgage deed grants the holder the power to demand full repayment of a debt, under specific conditions, before the scheduled due date. This clause, also known as an accel...

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