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Real Estate Acronyms

Real Estate Basics: Acronyms

AcronymMeaning
***M.A.R.I.A. - Fixture test Method Adaptability Relationship Intention Agreement
P.E.T.E. - Government Powers -Police power -Eminent domain -Taxation -Escheat
**T.T.I.P. - Joint Tenancy Time. Title. Interest. Position.
***C.L.O.C. - Valid Contract (orLOCC) I prefer LOCC, think Law... Competent. Legal use. Offer and acceptance. Consideration. I prefer LOCC, think Law...:must be lawful to start with, Legal use Offer & acceptance....someone willing to offer and get into contract Competent party
S.T.U.D. - Elements of Value Scarcity. Transferability. Utility. Demand.
A.C.O.L.D. - Duties of a Fiduciary relationship Think "Don't catch A COLD" Accountable. Care and Skill. Obedience. Loyal. Disclose all information.
D.U.P.E. - Bundle of Rights Disposition. Use. Possession. Exclusion.
A.A.I.D. - Steps of Advertising Attention. Action. Interest. Desire.
C.H.A.O. - Adverse Possession Continuous use. Hostile. Actual and exclusive. Open and notorious.
Created by: jaycaputo
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