What does Commencement Date mean?

This is the date on which a contract or agreement becomes effective. In the context of real estate, the commencement date might refer to the date on which a lease becomes effective, the date on which a mortgage takes effect, or the date on which a construction project is scheduled to begin.

Related Terms

Base Building Capital Gains Cashier's Check Escrow Agent Queen Anne Style Home Rule Undisclosed Heir Encumbrance Back Title Letter Covenants, Conditions and Restrictions (CC&Rs) Easement Infill Development Zero-Lot Lines Initial Interest Rate Fixed Time Inspection report Building Moratorium Value/Price