Negative Declaration at Real Estate Glossary

What is it? A declaration by a developer that a project will not have a negative impact on the environment.

Real Estate Definition Added By: Jayden

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Other Similar Real Estate Terms:

Real Estate Term Proration is Agreed-upon percentages of certain expenses associated with a piece of property that must be paid by the buyer or the seller at the time of closing.

Real Estate Term Guardian is A person, appointed by court or by will, given the lawful custody and care of the person or property of another (called a ward). The ward might be a minor, an insane person or even a spendthrift. The guardian may, upon court approval and without necessity

Real Estate Term Percolation is 1) The movement of water downward in a circular direction through subsurface soil layers, usually continuing downward to ground water. Can also involve upward movement of water. 2) Slow seepage of water through a filter.

Real Estate Term Prorations is Expenses, either prepaid or paid in arrears, that are divided or distributed between buyer and seller at the closing.

Real Estate Term Escrow Instructions is In a sales transaction, a writing signed by buyer and seller that details the procedures necessary to close a transaction and directs the escrow agent how to proceed. Sometimes the buyer and seller execute separate instructions and sometimes the contract