Monthly Archives: December 2017

Real Estate Term of the Week

Joint Tenancy: When two people take title as joint tenants on a deed, each person has a 50 percent ownership of that piece of property. If one person dies, the other person automatically owns...

Real Estate Term of the Week

VA Loan: A mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists...

Real Estate Term of the Week

Ohio’s Good Funds Law: The basic purpose of the law is to eliminate the use of checks and require the transfer of funds to purchase residential property at closing to the title company by...

Real Estate Term of the Week

Mutual Acceptance: The point when both the buyer and seller agree on the price and terms of a deal. In most states, such as Ohio, the purchase and sale agreement is signed at mutual...

Real Estate Term of the Week

Rent-Back Agreement: A legal, written agreement in a real estate transaction between a seller and a buyer. It gives sellers permission to stay in possession of the home they’ve just sold for a longer...