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YIELD The return on an investment or the amount of profit, stated as a percentage of the amount invested. COMMON LAW That body of law which is based on usage, general acceptance, and custom, as manifested in decrees and judgments of the courts; judge-made law, as opposed to codified or statutory law. TAX SHELTER A phrase often used to describe some of the tax advantages of real estate investment, such as deductions for depreciation, interest, taxes, etc., which may offset the investor's other ordinary income to reduce the investor's overall tax payment. PURCHASE AGREEMENT Contract signed by buyer and seller stating the terms and conditions under which a property will be sold. KICKERS Different types of equity participation a lender may seek as a condition for lending money, such as participation in rentals, profits, or extra interest. MARGINAL LAND Land which is of little value because of some deficiency, such as poor access, lack of adequate rainfall, or steep terrain. INTESTATE To die without a valid will. |
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