Distressed Property

Definition

  • Property owned by an individual who is in poor financial condition. Property that is in poor physical condition.

Synonyms
broken-down, derelict property, in over head, irreparable, fordone

Alternate Spellings
inspection, inspector

Related Terms and Acronyms

  • Actual Age Definition,
    • The years since a structure was built. Differs from effective age.
  • Blighted Area Definition,
    • An ugly, run-down neighbourhood.
  • Lien Definition,
    • A legal hold or claim of a creditor on the property of another.
  • Tear-down Condition Definition,
    • A house that is bought so it can be razed to make room for a newer house; usually located in a spectacular setting.
  • Title Defect Definition,
    • A legal claim by others to property, or the right to make demands upon an owner.
  • Upside-down Definition,
    • A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property purchased with the loan. See also "Depreciation."
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