Compensation or indemnity for loss owing for breach of contract, or a tort (civil wrong).
Date of Completion:
The date when the title to real property transfer to the new owner.
Debt Service Ratio:
The percentage of a borrower's gross income that can be used for housing costs (including mortgage payments and taxes). This is used to determine the amount of monthly mortgage payment the borrower can afford.
An imposed restriction in a deed for the purpose of limiting the use of the land.
The tearing down or destruction of a structure. Usually, a demolition permit must be obtained from the local building department.
A loss in value due to any cause.
One who engages in the subdivision or improvement of land.
A property under foreclosure or any other imminent legal remedy due to default in financial obligations.
The estate (i.e. property) which derives benefit from an easement over a servient tenement, as in a right-of-way.
A preliminary plan of subdivision prepared by a developer to be circulated to various departments for approval.
Making the decision to become a homeowner is good decision since buying a home is a great investment in your future. Choosing a home to buy starts with your needs and desires and should process logically until you find something you can afford.
Credit scoring model seeks to quantify how likely the consumers are to pay off their debt without being late. The more your credit file demonstrates that you pay your debt on time, the more desirable you become as a potential customer. The higher the client's score is, the less likely they are to default on their loan.
Lorne Park is Brantford's famous showcase horticultural park. The park is named after the Marquis of Lorne who was the Governor General of Canada from 1878 - 1883. Formerly part of the riverbed, park was low lying until it was gradually filled in after the first dikes were built.
In 1914, a study by Dunnington Grubb, a famous landscape firm, suggested that the city buy the property to enlarge Cockshutt Park as far as Lorne Bridge. By 1920 this land had been acquired to beautify the western entrance to Brantford at the river crossing.
For a short period the site was a miniature golf course called Pickwick Park. By 1936 Lorne Park was laid out in formal flower beds. At that time it also featured a bathing area.
The plantings on the south facing slope are changed annually to celebrate various important occasions. This is known as carpet bedding, an art which began in the 19th century.