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B

BUILDING RESTRICTIONS

Limitations on the use of property or the size and location of improvements established by legislation or by covenants in deeds.

BUNDLE OF RIGHTS

Ownership concept in real estate which embraces the rights of possession, use, enjoyment and disposition.

C

CAPITALIZATION

The act of converting future income into current equivalent value.

CAPITALIZATION RATE

The relationship or ratio between the net income from a real estate investment and the value of the investment, usually expressed as a percentage; the rate of interest which is considered a reasonable return on the investment.

CAUSE - Civil Law Term

The reason a person obligates himself.

CAVEAT EMPTOR

Let the buyer beware; the buyer must examine the goods or property and buy at his own risk.

CC and Rs

An abbreviation of covenants, conditions, restrictions, rights of way, and recorded easements.

CERTIFICATE OF ELIGIBILITY

The document which verifies the entitlement of an individual to the benefits of the Servicemen's Readjustment Act of 1944 by establishing his service record qualifications with the government agency.

CERTIFICATE OF REASONABLE VALUE

Commonly known as C.R.V.; this is the appraisal commitment of the Veteran's Administration used to fix the value of a property being proposed for purchase by a veteran under the GI bill of rights.

CERTIFICATE OF TITLE

A certification based on immediately available public records and issued by a title company, or an opinion rendered by an attorney that the seller has good, marketable and/or insurable title to the property.


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