Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Remove ads
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards




share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ma Real Estate C-2

Terms & Definitions C-2

TermDefinition
Competency The state of having legal contractual capacity.
Competent Party One who has the legal capacity to enter into a contract.
Concurrent Estate Ownership by two or more persons at the same time. EXAMPLE: Joint tenancy, tenancy by the entirety, tenancy in common.
Condemnation The administration or judicial procedure used when taking land by local, state or federal government for the public good called eminent domain.
Condemnee The property owner having title taken by eminent domain.
Condemnor The agency taking title to property by eminent domain.
Condominium An estate in real property in a multiple unit residential, or commercial building consisting of the interest in an individual unit ,plus an undivided interest along with other unit owners in common areas.
Condominium Budget The annual forecast of monies necessary to finance the Condominium Common Expenses.
Condominium Fee That part of the condominium budget for which the unit owner is responsible (% of common ownership Times condo budget = condo fee. Usually computed for monthly payments).
Condominium Square Footage The number of square feet of space within an individual condominium unit.
Condominium Trust; Condominium Association The Management group of unit owners elected by the unit owners to manage the condominium’s business as required by M. G. L. chapter 183A.
Condo "Super Lien" April 1993 change to Mass General law chapter 183 that allows the condominium association to collect up to 6 months due condo fees, if available upon foreclosure; after taxes due, but before mortgage liens.
Confidentiality That part of the responsibility of loyalty in agency law that deals with matters of disclosure. The broker must disclose material facts about the property, but not personal facts about the principal that may not be in the principal's interest.
Conformity The principle which holds that a house will hold its value better in an area of like type houses.
Consent One agreeing to terms of a contract does so without duress. Demonstrated by a Notary Public taking parties acknowledgment that this is their free act and deed.
Conservator An individual appointed by the court to act as a guardian.
Consideration Something given in exchange for something from another. Can be an article or a promise to do something. In real estate it's usually money exchanged for property as in a deed or money in exchange for a promise to perform as in a Purchase and Sale Agreement
Created by: sunaecm4