Glossary Of Real Estate Terms

A  B  C  D  E  F  H  I  L  M  O  P  R  S  T  U  W 

Tax Deductible:
An expense that reduces taxable income. Each year, shareholders in cooperatives apartments are able to deduct a certain amount from their personal taxes. The amount is determined by the amount of shares that are owned.
 
Transfer Tax:
A tax charged on the transfer of property. New York State and New York City each impose transfer taxes.
 
Triple Mint:
Triple mint condition means that the residence is in flawless condition.