Real Estate Basics: Acronyms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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***M.A.R.I.A. - Fixture test | Method
Adaptability
Relationship
Intention
Agreement
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P.E.T.E. - Government Powers | -Police power
-Eminent domain
-Taxation
-Escheat
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**T.T.I.P. - Joint Tenancy | Time.
Title.
Interest.
Position.
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***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
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S.T.U.D. - Elements of Value | Scarcity.
Transferability.
Utility.
Demand.
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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.
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D.U.P.E. - Bundle of Rights | Disposition.
Use.
Possession.
Exclusion.
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A.A.I.D. - Steps of Advertising | Attention.
Action.
Interest.
Desire.
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C.H.A.O. - Adverse Possession | Continuous use.
Hostile.
Actual and exclusive.
Open and notorious.
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Created by:
jaycaputo
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