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Escrow is a legal concept describing a financial agreement whereby an asset or money is held by a third party on behalf of two other parties that are in the process of completing a transaction.
The term landlord refers to a property owner who rents or leases that property to another party in exchange for a monetary compensation.
Under the provisions of section 21 to 31 of the Maharashtra Regional and Town Planning Act, 1966, local governing bodies must prepare a draft development plan showing the proposed land use and public facilities as per future population for areas covered under their jurisdiction. These plans are then approved by the Urban Development Department of the Government and referred to as Development Plans for the region.
An asset that cannot be moved from one place to the other is considered to be an immoveable property. In India, real estate is considered to be an immoveable property.
Fair Market Value or FMV refers to the price set for selling or purchasing an asset in the open market. Financial institutions like NBFCs and Government organisations use Fair Market Value while assessing the valuation of collateralised or taxed assets.
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A homeowners association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents.
Global Capability Centres (GCCs), also known as global in-house centres or captives (GICs), are offshore centres established by firms to provide various services to their parent organisations. These centres operate as internal organisations within the global corporate structure, providing specialised capabilities such as IT services, research and development, customer support, and other business tasks. GCCs and GICs are critical in leveraging cost efficiencies, accessing talent pools, and encouraging collaboration between parent businesses and their offshore affiliates.
Global Capability Centres (GCCs), also known as global in-house centres or captives (GICs), are offshore centres established by firms to provide various services to their parent organisations. These centres operate as internal organisations within the global corporate structure, providing specialised capabilities such as IT services, research and development, customer support, and other business tasks. GCCs and GICs are critical in leveraging cost efficiencies, accessing talent pools, and encouraging collaboration between parent businesses and their offshore affiliates.
Foreclosure is a legal process that allows lenders to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property.
A condominium is an individually owned residential or commercial unit existing in a complex or building of units.
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