A special proceeding under federal, or in some instances state, laws by which the property of a debtor is protected by the court and may be divided among the debtor's creditors and the debtor.
Bona Fide Purchaser
One who buys property in good faith, for fair value, and without notice of any adverse claim or right of third parties.
Breach of Contract
Failure to perform a contract, in whole or part, without legal excuse.
The person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them.
A line usually shown on the plat map specifying how far a building must be set back from the lot line.
Limitations on the use of property or the size and location of houses that are established by governmental law or by covenants in deeds or plats.
A payment to the lender from the seller, buyer, third party, or some combination of these, causing the lender to reduce the interest rate during the early years of a loan. The buy-down is usually for the first one to five years of the loan.