Uniform Settlement Statement at Real Estate Glossary

What is it? The standard HUD Form 1 required to be given to the borrower, lender and seller at the time or before settlement by the settlement agent in a transaction covered under the Real Estate Settlement Procedures Act. The lender must retain its copy for at least

Real Estate Definition Added By: Peyton

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Other Similar Real Estate Terms:

Real Estate Term Equity is The interest or value that an owner has in property over and above any indebtedness.

Real Estate Term Condominium conversion is The change in title from a single owner of an entire project or building to multiple owners of individual units.

Real Estate Term Gross Lease is A lease of property according to which a landlord pays all property charges regularly incurred through ownership, such as repairs, taxes, insurance and operating expenses. Most residential leases are gross leases.

Real Estate Term Per-diem interest is Interest charged or accrued daily.

Real Estate Term Interim Financing is A short-term loan usually made during the construction phase of a building project (in this case often referred to as a construction loan).