assignee the recipient of the assignment of another (assignor).assignor one who makes an assignment.(2)basis the financial interest that the Internal Revenue Service attributes to an owner of aninvestment property for the purpose of determining annual depreciation and gain or loss on thesale of the asset. If a property was acquired by purchase, the owner's basis is the cost of theproperty plus the value of any capital expenditures for the improvements to the property, minusany depreciation allowable or actually taken. This new basis is called the "adjusted basis". (1)consideration 1. That received by the grantor in exchange for his or her deed. 2. Something ofvalue that induces a person to enter into a contract.(1)dealer, real estate one who buys and sells real estate as a business, as opposed to an investor.The importance of the term is for tax purposes. If IRS determines that a taxpayer is a dealer,"said tax payer is a dealer, said taxpayer will not..."
interim financing a short-term loan usually made during the construction phase of a buildingproject (in this case referred to as a construction loan).(1)mechanic's lien a statutory lien created in favor of contractors, laborers and materialmen whohave performed work or furnished materials in the erection or repair of a building.(2)