Real Estate Glossary

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Undivided interest
Ownership by two or more persons that gives each the right to use the entire property.

Urban renewal
The acquisition of run-down city areas for purposes of redevelopment.

Useful life
The period of time over which a commercial property can be depreciated for federal income-tax purposes. Also known as economic life.

Charging a higher rate of interest on a loan than is legally allowed.

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