Meaning of NILAVA / NILUVA

NILAVA / NILUVA

Language - Tamil

Tamil Word - நிலவ / நிலுவ

Surplus balance or the amount remaining after all expenses or liabilities have been paid. Example: In modern real estate transactions, 'nilavaru' or 'niluvaru' refers to the positive balance remaining in an escrow account after closing costs and other expenses have been settled. This term emphasizes the importance of financial prudence and responsible management of resources. It also reflects the importance of maintaining accurate accounting records in both historical and contemporary contexts.