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Jones v. Mayer Supreme Court Case Explained

In Jones v. Alfred H. Mayer Co. (1968), the Supreme Court held that 42 U.S.C. §1982 prohibits racial discrimination by private parties as well as government actors in property sales and rentals. The Court also upheld Congress’s authority to enact …

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Affinity Housing Definition

Affinity housing allows minority groups with shared identities to live in one community exempting themselves from certain aspects of the Fair Housing Act. To understand affinity communities, you’ll need to learn from real estate professionals. Luckily, we’re here to give …

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Single-Family Home Exemption Explained

The federal single-family home exemption is a limited exception for certain sales or rentals by private individual owners. Selling without a broker alone is not enough, and the owner does not have to live elsewhere to qualify. For exam study, …

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Mrs. Murphy Exemption Explained

The Mrs. Murphy exemption is a limited federal fair housing exemption for certain owner-occupied dwellings with living quarters for no more than four families in total. The owner must actually live in one of those quarters. It does not authorize …

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Principal Payment Definition

A principal payment is a payment toward the principal or original amount borrowed. Mortgage payments consist of two components which include principal and interest. It is important to understand the components that contribute to mortgage payments. As a real estate …

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Equity in Real Estate Definition

Equity in real estate is the difference between how much your property is worth and how much you owe. Equity is often difficult to calculate for real estate novices, but it is essential to understand if you plan on being …

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