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Chapter 11 Mass Real Estate

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Term
Definition
show Items that have been accumulated over time. Such as depreciation or taxes.  
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show The practice of attempting to influence one to sell or rent with threats, that persons of a particular protected class are entering the neighborhood.  
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show Value remaining after depreciation. Original cost less accrued depreciation.  
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show The first of three major pieces of legislation, that affects fair housing and prohibits any discrimination, including housing, when that discrimination is based on race.  
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show Federal law know as Title VIII, that addresses discrimination in matters of housing including protected classes, prohibited practices, new construction, financing, providing brokerage services, and appraisal reports.  
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Mass Commission Against Discrimination (MCAD)   show
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show Mass. state law, that addresses discrimination in matters of housing. Covers similar areas as Federal Title VIII, but goes much further in who is protected under the law. More protected classes.  
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show One of a number of Private Mortgage Insurance (PMI) companies that privately insure a portion of the mortgage risk, when a lending institution is not willing to assume it (typical with down payments of less than 20%).  
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Protected Class   show
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Redlining   show
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show The attempt to influence buyers, by showing members of a protected class a property in neighborhoods, made up predominately of the same protected class, while not showing properties and other neighborhoods.  
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show The number of years a thing will last before needing replacement.  
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