| Term | Definition |
|---|
| co-tenants | Two or more tenants who rent the same property under the same lease or rental agreement. Each co-tenant is 100% responsible for carrying out the rental agreement, which includes paying the entire rent if the other tenant skips town and paying for damage caused by the other tenant. |
| collateral | Something of value deposited with a lender as a pledge to secure repayment of a loan. |
| commingling | The illegal practice of combining or mixing clients' funds with the agent's own funds. |
| commission | The compensation paid to a licensed real estate broker or by the broker to the salesman for services rendered. Usually a percentage of the selling price of the property. |
| Community Reinvestment Act | The federal law which requires federally regulated lenders to describe the geographical market area they serve. Deposits from that area are to be reinvested in that area whenever practical. |
| comparables | Properties which are similar to a particular property and are used to compare and establish a value for that property. |
| compound interest | Interest which is computed on the principal and any unpaid accumulated interest. Contrast with simple interest. |
| condemnation | The act of taking private property for public use, through due process under the right of eminent domain, with compensation to the owner. |
| condominium | A form of real estate, usually a dwelling with individual ownership of separate portions of the building plus shared ownership of the common areas. |
| consideration | The price or subject matter, which induces a contract; may be in money, commodity, exchange, or a transfer of personal effort. |
