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- GLOSSARY OF TERMS
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GLOSSARY OF TERMS – GENERAL EXPLANATIONS
45 Days
The number of days an exchange investor has to identify in writing replacement properties for a 1031 exchange. The period starts from the day the sold property closes including weekends and holidays until midnight of the 45th day.
180 Days
The number of days an exchange investor has to close the replacement property.
Accredited Investor
An investor who is financially qualified to experience the consequences from investing in private investment offerings. It is the duty of the registered securities Broker/Representative and Broker Dealer to determine the accredited status of a client before offering TIC investments. By SEC definition, generally an individual is accredited if his or her annual income is greater than $200,000, $300,000 for joint status, or, a joint net worth that is equal to or greater than $1 million.
Agency
An agency is considered a fiduciary relationship, where the agent represents the principal and acts only with the principal's consent and is subject to direction and control.
Anchor Tenant
Any major tenant, such as a large department or discount store or supermarket, which forms the nucleus of a modern shopping center. The anchor tenant is the mainstay that draws the public and stabilizes the center by assuring a profitable operation for all the other tenants. Anchor tenants are usually sought out first by developers, and they are usually given favorable leases.
