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Real Estate Glossary
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N Terms :
Negative Gearing
Where the return on an investment is not sufficient to cover the costs on the investment, e.g. property maintenance and interest on the loan.
Net Income
Income after taxes are deducted.
Net Worth
The value of a persons assets minus liabilities.
Nominee
A person who, in a limited sense, acts for or represents another.
Notice of Default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.
Notice to Quit
A notice to a tenant to vacate the property.
Null and Void
That which cannot be legally enforced, as with a contract provision that is not in conformance with the law.


 


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