REPLACEMENT RESERVE FUND Definition

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REPLACEMENT RESERVE FUND, in real estate, is a fund set aside for replacement of common property in a condominium, PUD, or cooperative project; particularly that which has a short life expectancy, such as carpeting and furniture.

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TOP DOWN is a concept of analyzing a subject, such as costs or revenue, starting from the highest level working towards the bottom.

ISSUE, in securities, is stock or bonds sold by a corporation or a government; or, the selling of new securities by a corporation or government through an underwriter or private placement.

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