Real Estate Listings
Calgary Real Estate Glossary B
(Back Taxes - Beneficiary Statement)
Taxes owed from a prior year.
Commission received by a syndicator when real estate is sold and are
typically paid after the investors receive their initial investment
Lender calculations by which debt (principal, interest, property taxes
and insurance + other monthly bills) is compared with gross monthly
Statement of financial condition, which lists assets, liabilities
and stockholder's equity. The net worth of an individual is assets
A mortgage in which the monthly payment is not intended to repay the
entire loan. The final payment is a large lump sum of the remaining
The final lump sum payment of a balloon loan.
Balloon Note Mortgage
A loan that is only partial amortized and requiring a lump sum repayment
A legal procedure by which an insolvent debtor can be relieved of
repayment of certain obligations. Bankruptcies remain on a credit
rating for 7 to 10 years. This may become a problem in obtaining financing.
Bargain and Sales Deed
The most widely used type of real estate deed, this makes the transfer
of property from one individual to another for a consideration in
the form of a sale.
Wall that supports its weight and the weight of other parts of the
structure and are necessary for the stability of a structure. Bearing
walls often include one or more interior walls, as well as the exterior
walls. Openings cut into bearing walls must be reinforced and a different
load path used through the use of headers carry the loads across the
top of the opening.
Soil with solid rock underneath which provides a foundation on which
to construct a building.
Total income prior to deduction of taxes.
A summer house on a height or an upper-story open-roofed gallery designed
to give a view of the scenery.
The lender, who is making a loan, is called either a mortgagee or
a beneficiary. The borrower is the mortgagor.
Lien holder's statement showing the unpaid balance on a trust deed