by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is a Carrying Charge?Carrying charge, also referred to as the cost of carry, these costs include insurance fees, storage costs, interest charges, and others. These charges refer to an amount of money incurred as a result of holding property, interest rates,...
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is a Hold Harmless Clause? A hold harmless clause is an agreement in a legal contract that states that a party is free from obligation resulting from injuries or damages suffered by the other party. This clause might cover one party or both parties in a legal...
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is a Closed-End Lease? A closed-end lease is a contractual agreement that allows an individual (lessee) to use a property for a particular period while making periodic lease payments without an obligation to buy the property at the end of the contract. Close-end...
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is a Register of Deeds? A register of deeds, often called the “registrar of deeds”, refers to a record involving real estate deeds or property titles that a domestic government officer maintains. It is used with a grantor-grantee index on a...
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is a Cost-Plus Contract? A cost-plus contract is a contract where a project owner agrees to cover the cost of all the project expenses from the beginning to the end. The expenses are labor and materials, including margin profits and overheads. The contractors...
by Jason M. Gordon | Feb 23, 2025 | Real Estate, Personal, & Intellectual Property
What is Millage Rate? The millage rate is an old term that refers to the tax rate levied on properties. Popularly called the mill rate, this tax rate is used in estimating property taxes imposed on properties. The millage rate is calculated as 1/1,000 of a dollar,...
