Chp 3 Concepts of Home Ownership

Card Set Information

Author:
IQ
ID:
229984
Filename:
Chp 3 Concepts of Home Ownership
Updated:
2013-08-14 12:19:40
Tags:
Real Estate
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Description:
Real Estate
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  1. A clause insurance policies covering real
    property that requires the policyholder to maintain fire insurance coverage
    generally equal to at least 80 percent of the property’s actual replacement
    cost.
    Coinsurance clause
  2. A standardized package insurance policy that
    covers a residential real estate owner against financial loss from fire, theft,
    public liability, and other common risks
    Homeowners’ insurance policy
  3. Insurance that covers injuries or losses
    sustained within the home.
    Liability coverage
  4. The basic cost of owning a home mortgage
    Principal and Interest, real estate Taxes, and hazard Insurance.
    PITI (principal, interest, taxes, and insurance)
  5. The construction cost at current prices of a
    property that is not necessarily an exact duplicate of the subject property but
    serves the same purpose or function as the original.
    Replacement cost

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