You asked: What does rip mean in real estate?

What does o/o mean in real estate?

Absentee landlord: An owner or sub-lessor who does not reside in the place or area in which he/she owns real estate from which he/she derives rental income. Abstract of auction: A summary of the auction advertisements which appears in the property page of a newspaper.

What does LP on property mean?

The real estate industry like other industries has its fair share of abbreviations. … LP – List Price: The dollar figure at which the property is listed for sale. SP – Sales Price: The dollar figure at which the parties to the transaction have agreed to sale the property.

What does R S mean in real estate?

LE – Life Estate. TE – Tenants In The Entirety. RS – Community Property With Rights of Survivorship Multiple vesting codes used when there is more than one type. of vesting on a property.

Why do we say R.I.P. when someone dies?

The acronym R.I.P., though containing the same initial letters as the phrase rest in peace, originates from a Latin phrase with the same meaning: requiescat in pace, “may (the deceased person) rest in peace.” The Latin phrase began appearing on Christian gravestones in the 8th century and was widespread on Christian …

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What is R.I.P. grave?

If asked today, most people would probably state that the acronym “R.I.P.” stands for “Rest in peace” and that it refers to the body/corpse of the deceased.

What is LP sq ft?

LP and OLP – Refers to the List Price (current) and the Original List Price. … LP/SF and SP/SF – The list price and sold price per square foot.

What is LP number full form in real estate?

LP in warehouse management stands for LICENSE PLATES. In some supply chains the sender attaches unique identification labels to pallets – which we refer to as license plates (LP’s) and send an electronic despatch advice. This includes the unique LP numbers and the contents of the associated pallets.