Real Estate Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| Wild Card | Ways an offer is terminated
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| SNI | State transfer taxes
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| PITT | Four unities of a joint tenancy
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| PET | Government restrictions
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| MALE | Conflicting demands settlement procedure
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| IRV | Income capitalization formula
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| IRMA | Test for fixtures
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| HOT CAN | Conditions for alienation by adverse possession
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| FHA | Federal Housing Administration
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| DUST | Characteristics of value
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| DUPE | Bundle of rights
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| DELL | Private restrictions
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| CPI | Consumer price index
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| COLIC | Elements of a valid real estate contract
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| CEDDING | Elements of a deed
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| CBS vs. CIA | Appraisal adjustments
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| A BAR SALE | Real estate services
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| Assignor | person who transfers a legal right to another (e.g., mortgagee selling mortgages and notes; a buyer transferring rights to another person in a sale contract)
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| Assignee | person to whom a legal right is transferred (e.g., Fannie Mae buying mortgages and notes in the second mortgage market)
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| Grantor | party giving the deed that conveys title (e.g., seller in a sale contract)
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| Grantee | party receiving the deed and acquiring title (e.g., buyer in a sale contract)
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| Lessor | landlord who gives lease
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| Lessee | tenant who receives lease
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| Lienor | person who has a claim on another's property
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| Lienee | person whose property is subject to a claim or charge by another
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| Mortgagor | borrower who gives note and mortgage to obtain a loan
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| Mortgagee | lender who receives note and mortgage
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| Offeror | buyer making an offer to purchase
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| Offeree | seller receiving an offer to purchase, who accepts, counters, or rejects the offer
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| Optionor | owner who gives an option to a buyer
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| Optionee | buyer who receives an option contract
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| Vendor | seller in a sale contract
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| Vendee | buyer in a sale contract
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Created by:
1StellarStar
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