C-Definitions 2016-10-14T16:26:34+00:00

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COLLECTION SERVICE
A service performed by a neutral third party in receiving and disbursing loan payments as instructed by the parties concerned.

CONDEMNATION
The exercise of the power of eminent domain by which property is taken for a public use upon payment of just compensation. Condemnation can also refer to the condemning of unsafe structures.

CONDOMINIUM
A multi-family or other structure in which units are individually owned and in which owners of individual units also own an undivided interest in common areas.

CONTINGENT
Dependent upon conditions or events specified but not yet accomplished. Property may be sold contingent upon the seller or buyer meeting a predetermined condition.

CONVEYANCE
A written document that transfers title to an asset from one person to another. A Deed an assignment are both conveyances, as is a bill of sale.

COUNTY ASSESSOR
One who sets value of property for taxation purposes.