Fair Rent
The rent determined by a rent officer under a regulated
tenancy.
Fee Simple
It establishes the title of real property in the owner and entitles
him to unrestricted powers.
FERA
Acronym for Foreign Exchange Regulation Act. An Act to regulate
certain payments dealing in foreign exchange, securities, import
& export of currency and acquisition of immovable property by
NRIs /PIOs /foreign nationals.
Force majeure
Forces that cannot be controlled by the contracting parties,
such as natural calamities which prevents them from complying
with the provisions of the contract. Natural calamities may
include flood, hurricane or acts of man such as a strike, fire
or war.
Foreclosure
A legal procedure by which the lender forces the sale of a property
(used as security for a debt) in the event of default in payment
of the mortgage note or default of other terms in the mortgage
document by the borrower.
Fiduciary Duty
The relationship of trust between principal and broker. The
broker has a fiduciary duty, that is, owes certain loyalty which
cannot be breached under rules of Agency.
Facade
The part of a building facing the street or a courtyard.
Fraud
Employment of cunning, deception and collusion for cheating
and deceiving another person for gaining his property.
Fire Certificate
A certificate covering matters of safety required under the
legislation for hotels, boarding houses, factories, offices
shops and railway premises, excluding those buildings containing
less than a minimum number of employees.
Frontage (Line)
The full length of a plot of land or a building measured alongside
the road at the front of the plot or building.