Glossary

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improvements

Valuable additions to the land, such as buildings, fences, roads, etc., which increase the value of the property.

ingress

An entrance to property, or the act of entering.

inspection clause

A stipulation in an offer to purchase that makes the sale contingent on the findings of a home inspector.

interest

(1) The sum paid in return for the use of money; could be considered rent for the use of money.
(2) The type and extent of ownership in property.

interest rate

The periodic charge on borrowed money. Expressed as a percentage.

These terms and their presence on this site are not intended as, nor should they be used as, legal advice. You should always obtain advice from a licensed attorney for all legal matters.