all glossary terms from real estate textbook
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show | A deliberate agreement between parties; offer and acceptance; “meeting of the minds.” A requirement of a legally enforceable contract.
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“Time is of the essence” | show 🗑
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show | 1)no longer exist 2)easement holder becomes owner 3)release right 4) abandonment 5)non-use of prescription 6) adverse possession 7)demolition of a party wall 8)nonrecordation 9)lawsuit(quiet title) 10)residential easement converted to commercial purposes
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show | 1)the promises made in the sales contract are fulfilled 2)the mortgage loans funds are distributed to the buyer for use 3)other settlement costs or funds are dispersed
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show | Immobility, indestructibility, uniqueness
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4 economic characteristics of real property | show 🗑
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show | Residential, Commercial, Industrial, Agricultural, Special purpose.
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show | 1) One owner only 2) interest 100% 3) one signature only when sold unless a married person - spouse signs to extinguish elective share rights 4) marriage of an owner does not automatically change to tenancy by entireties 5) heir ship rights
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a lease is said to have ___ ___ ____ because it is a contract and it conveys an interest in real property. | show 🗑
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show | A condensed history of a title.
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acceleration clause | show 🗑
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show | occurs when the offeree signs the offer without making any changes to it, thereby evidencing his acceptance and willingness to be bound by and perform all terms of the offer.
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Accession | show 🗑
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show | Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.
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accrued items | show 🗑
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Acre | show 🗑
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Actual eviction | show 🗑
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Ad valorem taxes | show 🗑
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adjustable-rate mortgage (ARM) | show 🗑
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adjusted basis | show 🗑
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Adverse Possession | show 🗑
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Aesthetic Zoning | show 🗑
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show | The easiest but least precise way to measure depreciation that uses the effective age of a building & its economic life.
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Agency | show 🗑
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Agent | show 🗑
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show | farms, timberland, ranches, and orchards.
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show | In North Carolina, a fixture attached to leased property by a tenant farmer is considered the landowner's real property rather than the tenant's personal property.
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Air Rights | show 🗑
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show | Transfer of title, act of transferring property to another.
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show | Prevents the borrower from letting someone assume the debt without the lender's approval.
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show | Owner's title insurance policy that protects the owner against title defects not found in public records.
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American land title association/Alta policy | show 🗑
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show | A Federal Act that facilitates accessibility and mobility by ramp construction, safety rails, wider doors, and other accommodations.
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show | A loan in which principal as well as interest is payable in periodic installments over the term of the loan.
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show | the relationship of all finance charges to the loan amount; must be disclosed to borrowers the Truth-in Lending Act.
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show | When value could increase or decrease based on anticipation of some future benefit or detriment affecting the property.
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show | laws that prohibit monopolies and contracts, combinations, and conspiracies that unreasonable restrain trade.
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Appraisal | show 🗑
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Appreciation | show 🗑
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Appurtenance | show 🗑
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Arms length transaction | show 🗑
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show | Mineral used extensively in insulation; inhaling fibers can cause sever respiratory diseases; particularly dangerous if friable, i.e., easily crumbled
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show | An official valuation of property for the purpose of establishing assessed value for tax purpose.
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assignment | show 🗑
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Assumption of mortgage | show 🗑
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Auction | show 🗑
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show | The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream. The loss of land may not result in loss of title to the property.
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backup offer | show 🗑
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balloon payment loan | show 🗑
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baseboards | show 🗑
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basement | show 🗑
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basis | show 🗑
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beneficiary | show 🗑
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show | A type of contract in which both parties promise to do or refrain from doing something; one promise is exchanged for another. "I will do this and you will do that"
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blanket mortgage | show 🗑
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show | The act of encouraging people to sell or rent their homes by claiming that the entry of a protected class will have a negative impact on property values.
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boot | show 🗑
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show | A secondary place of business apart from the principal or main office from which real estate business is conducted. A branch office usually must be run by a broker – in – charge working on behalf of the broker.
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Breach of Contract | show 🗑
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British Thermal Unit (BTU) | show 🗑
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Broad Form (HO-2) | show 🗑
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Broker | show 🗑
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show | the business of bringing buyers and sellers together
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show | Required for brokerage firm and branch office, the full broker responsible for all real estate activities and supervising all provisional brokers associated with the firm or office.
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show | Areas such as landscaped parks and playgrounds used to separate and screen residential areas from nonresidential areas
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Building Codes | show 🗑
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Building Permit | show 🗑
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show | The concept of land ownership that includes ownership of all legal rights to the land, i.e.. Disposition, exclusion, enjoyment, possession and control.
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show | The upward and downward fluctuations in business activities generally characterized by four stages: expansion, recession, depression, and revival
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show | a way to lower the initial interest rate on a mortgage or deed of trust loan; common type is called a 3-2-1
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show | A principal-agent relationship in which the broker is the agent for the buyer, with fiduciary responsibilities to the buyer. The broker represents the buyer under the law of agency.
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Calls | show 🗑
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show | the taxable profit earned from the sale of real property
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show | a loss derived from the sale of real property that may be deductible from ordinary taxable income.
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Capitalization rate | show 🗑
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carbon monoxide | show 🗑
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Cash flow | show 🗑
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show | A policy that provides property owner coverage for the basic structure on that property.
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Caveat emptor | show 🗑
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show | attached to the top plate of a wall and carry the weight of the roof
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comprehensive environmental response, compensation, and liability act (CERCLA) | show 🗑
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show | Issued upon the satisfactory inspection of a structure; building is fit for occupancy and there are no building code violations
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show | a form indicating the appraised value of a property being financed with a VA loan.
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Chain of Title | show 🗑
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Change | show 🗑
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Channeling | show 🗑
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Civil Rights Act of 1866 | show 🗑
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Client or Principal | show 🗑
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show | the consummation of the real estate transaction; the point at which ownership of a property is transferred in exchange for the selling price; also called settlement
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show | the one who usually conducts the proceedings at a closing and calculates the division of income and expenses between the parties.
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show | A detailed cash accounting of a real estate transaction showing all cash received, all charges and credits made, and all cash paid out in the transaction.
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show | A defect on a deed that is frequently cured by a quitclaim deed.
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Clustering | show 🗑
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Code of ethics | show 🗑
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show | A supplement or an addition to a will, executed with the same formalities as a will, that normally does not revoke the entire will.
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Coinsurance Clause | show 🗑
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show | Business property, including offices, shopping centers, stores, theaters, hotels and parking facilities.
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show | when trust funds and the firm/broker's personal/business funds are placed in the same account
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show | compensation provided by the principal to the firm, contingent on the firm successfully performing the service
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Common elements | show 🗑
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Common law | show 🗑
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show | Property used in an appraisal report that is substantially equivalent to the subject property.
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Comparative market analysis (CMA) | show 🗑
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show | Money damages awarded to the injured party to compensate them for the breach of contract, but not to punish the breaching party.
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show | The principle that states that excess profits generate competition.
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components of an ARM loan | show 🗑
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Comprehensive plan | show 🗑
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Condemnation | show 🗑
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Condition | show 🗑
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show | A defeasible fee simple estate that dictates some action or activity that the new owner must not perform. The former owner retains a right of reentry, so if the condition is broken, the former owner can take repossession of the property.
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Conditional-use Permit | show 🗑
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show | Do not own land underneath unit; can stack vertically; 7 days to cancel; own "paint to paint" or enclosed airspace; common areas owned by all members as tenants in common
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conforming loan | show 🗑
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show | the appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
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show | NC law that requires many types of real estate documents to be recorded for protection against claims from third parties.
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consequential damages | show 🗑
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Consideration | show 🗑
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construction loan | show 🗑
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show | the doctrine that gives the tenant the right to cancel the remainder of the lease and vacate the premises w/o penalty if the landlord fails to keep the premises fit.
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Constructive Notice | show 🗑
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Contingency | show 🗑
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Contract | show 🗑
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Contribution | show 🗑
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show | a loan that is not backed by a gov't agency.; lender bears all the risk in the event of default
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Conveyance | show 🗑
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show | those who act as subagents of the principal
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Cooperative | show 🗑
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show | the process of estimating the value of a property by adding the appraiser's estimate of the reproduction or replacement cost of the building, less depreciation to the estimated land value.
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cost basis | show 🗑
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counteroffer | show 🗑
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show | A life estate, usually a fractional interest, given by some states to the surviving husband in real estate owned by his deceased wife. Most states, including north carolina, have abolished courtesy.
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Covenant | show 🗑
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show | Under this covenant, the lessor guarantees that the lessee may take possession of the leased premises and that no one, including the landlord, will interfere with the tenant's possession or use of the property.
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show | on a closing statement, amount entered in a person's favor – an amount the party has paid order amount received from another party.
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show | the space between the ground surface and the first floor; frequently found in homes w/o basements that are not built on a slab foundation
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show | a reduction in a property's value resulting from a decline in physical condition; repairs that are physically possible and economically feasible and will result in an increase in appraised value. Ex: Roof replacement, painting
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Debit | show 🗑
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Customer | show 🗑
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show | principal and interest loan payment
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Decedent | show 🗑
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Declaration of Restrictive Covenants | show 🗑
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show | Loss not covered by the insurer.
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Deed | show 🗑
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show | Deed that is used when a borrower has defaulted on the mortgage loan and wants to avoid a foreclosure action.
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show | Deed used when a grantor conveys property as a gift; must be recorded within two years or it becomes void.
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Deed of Release | show 🗑
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show | the document that pledges the property to the lender as security or collateral for a debt; also called mortgage.
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Deed restrictions | show 🗑
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Default | show 🗑
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show | An estate in which the holder has a fee simple title that may be terminated upon the occurrence or non-occurrence of the specified event. Two categories of the defeasible fee estate exist: fee simple determinable and fee simple on condition subsequent.
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Defeasance clause | show 🗑
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deficiency judgment | show 🗑
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show | Actual delivery of the deed by the grantor and either actual or implied acceptance by the grantee.
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Demand | show 🗑
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Department of Housing and Urban Development (HUD) | show 🗑
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depreciation | show 🗑
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show | The acquisition of an estate by inheritance in which an air succeeds to the property by intestate succession
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Designated duel agency | show 🗑
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show | A person or company that attempts to put land to its most profitable use to the construction of improvements.
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Devise | show 🗑
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direct reduction loan | show 🗑
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show | interest paid in advance; one point equals 1% of the loan amount for the borrower and increases the yield for the investor approximately 1/8%.
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Dominant tenement | show 🗑
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Dormer | show 🗑
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Dower | show 🗑
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Dual agency | show 🗑
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due diligence period | show 🗑
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due-on-sale clause | show 🗑
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show | The unlawful constraint or action exercised on a person whereby the person is forced to perform an act against that person’s will. A contract entered into under duress is voidable.
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show | Money deposited by a buyer under the terms of a contract, to be forfeited if the buyer defaults but applied to the purchase price if the sale is closed.
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show | The right to use the land of another for a particular purpose.
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show | An easement that is annexed to the ownership of one parcel of land and used for the benefit of another parcel of land. The easement "runs with the land"
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show | An easement acquired for a public purpose through the power of eminent domain.
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Easement by necessity | show 🗑
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Easement by prescription | show 🗑
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Easement in gross | show 🗑
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eave | show 🗑
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show | The period during which property is expected to remain useful for its original intended purpose.
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Economic obsolescence (incurable) | show 🗑
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Effective age | show 🗑
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electromagnetic fields for purposes (EMFs) | show 🗑
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show | Growing crops, such as grapes and corn, that are produced annually through labor and industry; also called fructus industriales. Usually considered to be personal property,
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show | Works as a direct employee of employer, who must withold income and social security taxes from employee.
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Employment Contract | show 🗑
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show | Power of certain agencies to take private property for public use through a suit for condemnation.
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Enabling acts | show 🗑
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encapsulation | show 🗑
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show | When an improvement or any portion of an improvement, such as a building, a fence, or a driveway illegally extends beyond the land of its owner and covers some land of an adjoining owner/street/alley.
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show | A claim, charge, or liability that attaches to and is binding on real estate.
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show | In an insurance policy, coverage added to general policy; a rider.
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Equal Credit Opportunity Act (ECOA) | show 🗑
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show | The point where supply and demand is balanced.
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show | the right to use and possess the property as if one owns it and to demand the return of the legal title when the debt is repaid.
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Equity | show 🗑
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show | the right of a borrower in default on a mortgage loan to reclaim the forfeited property prior to the foreclosure sale through payment in full of all debt and associated costs.
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show | The gradual wearing away of land by water, wind, or other natural forces; the diminishing of property by the elements may cause loss of ownership.
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show | The reversion of property to the state in cases where a person dies intestate.
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show | The closing of a transaction through a third party called an escrow agent who receives certain funds and documents to be delivered upon the performance of certain conditions outlined in the escrow instructions.
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show | The trust account established by a broker under the provisions of the license law for the purpose of holding funds on behalf of the broker’s principal or some other person until the consummation or termination of the transaction.
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show | 1)term 2)promise to pay 3)signature of the borrower(s)
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show | 1. Mutual agreement 2. Consideration 3. Capacity to Contract 4. Legal objectives
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estate at sufferance | show 🗑
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show | an estate that gives the tenant the right to posses property with the consent of the landlord of a term of unspecified or uncertain duration.
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show | a leasehold estate that continues for a definite period of time, whether for years, months, weeks, or days; automatically terminates at the end of the lease period.
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estate from period to period | show 🗑
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Estate taxes | show 🗑
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show | A method of creating an agency relationship in which a person states incorrectly that a second person is the first person’s agent and a third person relies on that representation.
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Estover | show 🗑
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Every real estate transaction must be reported to the ___ by the closing agent. | show 🗑
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Evidence of title | show 🗑
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show | A transaction in which all or part of the consideration is the transfer of like – kind property (such as investment real estate for investment real estate).
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Excise Tax | show 🗑
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show | Something that is not covered for loss in an insurance policy.
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exclusive-agency listing | show 🗑
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exclusive-right-to-sell listing | show 🗑
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executed contract | show 🗑
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Execution | show 🗑
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Executory Contract | show 🗑
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Exemptions to the Federal Fair Housing Act (1) | show 🗑
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show | The rental of rooms or units is exempt in an owner-occupied one-family to four-family dwelling.
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show | Dwelling units owned by religious organizations may be restricted to people of the same religion if membership in the organization is not restricted on the basis of protected class.
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show | An oral or written contract in which the parties state the contract's terms and express their intentions in words.
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extender clause or Override Clause | show 🗑
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External depreciation | show 🗑
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show | The loss in value due to factors that are outmoded or less useful. Obsolescence may be functional or economic.
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show | Areas outside incorporated limits that are subject to the zoning restrictions of a municipality
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show | federal law giving consumers the right to view and correct their credit information
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show | refers to the presence of one or more individuals who have not reached the age of 18 and who live with either a parent or legal guardian. The term also includes a woman who is pregnant.
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show | a quasi-government agency established to purchase any kind of mortgage loans in the secondary mortgage market from the primary lenders.
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fascia board | show 🗑
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show | Agency responsible for designating flood hazard areas bordering rivers and streams.
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show | Federal law that prohibits discrimination based on familial status, race, sex, handicap, color, religion, national origin. (FRESH CORN)
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show | The country's central banking system, which controls the nation's monetary policy by regulating the supply of money and interest rates
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show | The maximum possible estate in real property; most complete and absolute ownership; indefinite in duration, freely transferable and inheritable.
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show | An estate in which the holder has a fee simple title that may be terminated upon the occurrence or nonoccurrence of a specified event. Two categories of defeasible fee estates exist: fee simple determinable and fee simple on condition subsequent.
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show | An estate in real estate that continues "so long as" a prescribed land use continues. Estate ends automatically upon the termination of the prescribed use; no lawsuit is necessary for reversion.
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show | An estate in real estate that prohibits a specific condition on the property. Grantor has the right to re-enter the property and reclaim ownership through legal proceedings.
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show | Arrangement where consumer asks licensee to perform specific real estate services for a set fee; unbundling of services; limited service firms.
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FHA-insured loan | show 🗑
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Fiduciary | show 🗑
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show | A flexible moment in time when conversation between a licensee an a consumer begins to address confidential needs, desires and abilities; latest moment to legally disclose agency choices to a consumer.
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show | The most popular repayment plan; both the interest rate and the debt service amount are set for the duration of the loan
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show | the tenant's obligation to pay a fixed rental amount, and the landlord pays all taxes, insurance premiums, mortgage payments, repair costs; also called a gross lease.
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Fixture | show 🗑
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Flood Hazard Area | show 🗑
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floor joists | show 🗑
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footings | show 🗑
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show | Process in which property is taken by a creditor for nonpayment of debt secured by real property.
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show | Land at the coast between average high tide and average low tide this is owned by the state of North Carolina.
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show | the masonry or concrete wall below ground level that serves as the main support for the frame structure; form the side walls of the basement or crawlspace.
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frame | show 🗑
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Freddie Mac | show 🗑
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show | An estate in land in which ownership is for an indeterminate length of time, in contrast to a leasehold estate.
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frieze board | show 🗑
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Front footage | show 🗑
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Fructus industriales | show 🗑
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show | Plants that do not require annual cultivation and are considered real property.
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Full Service Lease | show 🗑
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fully amortized fixed-rate mortgage | show 🗑
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Functional obsolescence curable | show 🗑
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show | Undesirable physical or design features that can't be remedied easily are considered functionally obsolete. ex: home w/ 5 bedrooms & 1 bath
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show | A person's present right to an interest in real property that will not result in possession or enjoyment until someone in the future, such as a reversion or right or reentry.
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Gable | show 🗑
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show | A curb roof, having a steep slope and a flatter one above, as seen in dutch colonial architecture.
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show | A defect in the chain of title of a particular parcel of real estate; a missing document or conveyance that raises doubt as to the present ownership of the land.
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show | one who represents the principal in a broad range of matters related to a particular business or activity
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show | This type of lien affects all the property of a debtor, both real and personal, rather than a specific parcel of real property
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show | In association of two or more individuals who carry on a continuing business for profit as co– owners.
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show | This deed offers greater protection than any other deed, is the best deed for the grantee, but gives the grantor the greatest degree of liability.
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Ginnie Mae | show 🗑
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show | a heavy wooden or steel beam supporting the floor joists and providing the main horizontal support for the floor
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show | gives an estimate of your settlement charges and loan terms if you are approved for your loan.
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show | a lease that provides for increases in rent to occur at set future dates; often used in the rental of office space for multiple-year terms. Also called a step-up lease.
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show | a flexible payment plan that allows a mortgagor to make lower monthly payments for the first few years of the loan and larger payments for the remainder of the term.
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show | The one who receives title
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Grantor | show 🗑
|
||||
show | Words of conveyance
🗑
|
||||
show | A lease of property under which a landlord pays all property charges regularly incurred through ownership, such as repairs, taxes, insurance, and operating expenses. Most residential leases are gross leases; also called fixed rental lease.
🗑
|
||||
show | a figure used as a multiplier of the gross monthly income of a property to produce an estimate of the property's value
🗑
|
||||
ground lease | show 🗑
|
||||
groundwater | show 🗑
|
||||
growing-equity mortgage (GEM) | show 🗑
|
||||
show | the extra thick framing over doors and windows to bear the weight of the building above the opening
🗑
|
||||
show | The quality or state of being heterogeneous.
🗑
|
||||
show | The possible use of a property that would produce the greatest net income and thereby develop the highest value
🗑
|
||||
Hip roof | show 🗑
|
||||
Historic Preservation Zoning | show 🗑
|
||||
holdover tenant | show 🗑
|
||||
homeowner's insurance policy | show 🗑
|
||||
show | a source of funds for homeowners who wish to finance the purchase of expensive items; consolidate existing installment loans on credit card debt; or pay for medical, educational, home improvement, or other expenses
🗑
|
||||
Homeowner's Protection Act | show 🗑
|
||||
Housing and community development act of 1974 | show 🗑
|
||||
Housing for older persons | show 🗑
|
||||
show | Department of Housing and Urban Development. Enforces the Federal Fair Housing Act.
🗑
|
||||
HVAC | show 🗑
|
||||
show | Uniform Settlement Statement; the standard closing statement form required to be given to the borrower, lender, and seller at or before settlement by the closing agent in a transaction covered under RESPA.
🗑
|
||||
show | the act of pledging real property as security for payment of a loan without giving up possession of the property.
🗑
|
||||
show | when principal and agent, without formally agreeing to the agency, act as if one exists.
🗑
|
||||
show | A type of contract in which the agreement of the parties is demonstrated by their actions or conduct.
🗑
|
||||
show | the primary duty of the land lord to supply fit and habitable premises to the tenant.
🗑
|
||||
show | (1) space any structure, usually privately owned, erected on the site to enhance the value of the property – for example, a fence or a driveway. (2) a publicly owned structure added to our benefiting land, such as a curb, sidewalk, street, or sewer.
🗑
|
||||
show | Estimate based on the present worth of the future rights to income.
🗑
|
||||
Incurable physical deterioration | show 🗑
|
||||
Independent contractor | show 🗑
|
||||
index lease | show 🗑
|
||||
show | warehouses, factories, land in industrial districts, and power plants.
🗑
|
||||
Inflation | show 🗑
|
||||
show | Use of a street address to describe property.
🗑
|
||||
show | State – imposed taxes on a decedent’s real and personal property.
🗑
|
||||
In-house sale | show 🗑
|
||||
installment land contract | show 🗑
|
||||
show | A transaction in which the sales price is paid in two or more installments over two or more years.
🗑
|
||||
Instead of using contingencies in an offer to purchase and contract, NC uses _______. | show 🗑
|
||||
insulation | show 🗑
|
||||
show | a charge for the use of borrowed money
🗑
|
||||
interest-only mortgage | show 🗑
|
||||
show | A short – term loan usually made during the construction phase of a building project (in this case, often referred to as a construction loan).
🗑
|
||||
show | When a person dies without having left a will.
🗑
|
||||
show | Law that requires those engaged in the interstate sale or leasing of subdivision lots to file a statement of record and register the details of the land with HUD
🗑
|
||||
show | An appraisal term referring to the value created by a person’s personal preferences for a particular type of property.
🗑
|
||||
Investment | show 🗑
|
||||
Involuntary lien | show 🗑
|
||||
Joint Tenancy | show 🗑
|
||||
Joint venture | show 🗑
|
||||
show | A decree issued by a court.
🗑
|
||||
show | the form of foreclosure used in lien theory states; court process
🗑
|
||||
jumbo loan | show 🗑
|
||||
show | Loss of a right through undue delay or failure to assert it.
🗑
|
||||
Land | show 🗑
|
||||
show | A contract for the sale of real estate financed by the seller whereby the purchase price is paid in periodic installments by the purchaser, who is in possession of the property even though legal title is retained by the seller until a future date, which m
🗑
|
||||
show | An enormous hole to store hazardous materials, lined to prevent leakage of waste materials; includes underground drainage pipes to monitor for leaks and leaching
🗑
|
||||
show | The support a parcel of land receives from adjacent land; a neighbor’s duty to support adjoining land in its natural state.
🗑
|
||||
Lateral Support | show 🗑
|
||||
show | holds that the landlord is liable for injuries that occur in common areas (hallways, stairways, elevators, sidewalks, and parking lots) when the landlord negligently failed to maintain safe conditions in those areas.
🗑
|
||||
Lead Based Paint hazard Reduction Act | show 🗑
|
||||
show | poisoning caused by an elevated level of lead in the human body that can result in damage to the brain, nervous system, kidneys, and blood.
🗑
|
||||
lease | show 🗑
|
||||
Lease option | show 🗑
|
||||
show | The purchase of real property, the consummation of which is preceded by a lease, usually long-term; typically done for tax or financing purposes.
🗑
|
||||
show | an estate in land that is generally considered personal property, because no ownership of the real property has changed hands.
🗑
|
||||
show | the exact way of describing real estate in a contract, deed, mortgage or another document.
🗑
|
||||
show | People who are recognized by law as being able to contract with others; those of legal age and sound mind; a requirement of a legal enforceable contract.
🗑
|
||||
Legally of Object | show 🗑
|
||||
Lessee/lessor | show 🗑
|
||||
show | The use of borrowed money to finance and investment.
🗑
|
||||
Levy | show 🗑
|
||||
Liability insurance | show 🗑
|
||||
License | show 🗑
|
||||
Lien | show 🗑
|
||||
lien theory | show 🗑
|
||||
show | An interest in real or personal property that is limited in duration to the lifetime of its owner or some other designated person or persons.
🗑
|
||||
show | A person in possession of a life estate.
🗑
|
||||
show | a tax term used in exchanges; property may be exchanged for life in kind property and the tax postponed (does not refer to the physical similarity of the properties).
🗑
|
||||
liquidated damages | show 🗑
|
||||
show | The ability to sell an asset and converted into cash, at a price close to its true value, in a short period of time.
🗑
|
||||
show | A notice that there is and action or lawsuit pending that may adversely affect the title.
🗑
|
||||
show | An employment contract between a property owner and a real estate firm/broker by which the broker is employed to find a ready, willing and able buyer for the owner's real estate on the owner's terms, for which service the owner agrees to pay a commission.
🗑
|
||||
show | The broker/firm in a multiple – listing situation representing the seller, as opposed to the cooperating broker/firm, that brings the buyer to the transaction. The listing broker and the cooperating broker may be the same person/firm.
🗑
|
||||
Littoral Rights | show 🗑
|
||||
show | the specific duties of the principal: loyalty, obedience, accounting, disclosure of information, and skill, care, and diligence
🗑
|
||||
show | an administrative fee charged to the borrower by the lender for making a mortgage loan; usually computed as a % of the loan amount.
🗑
|
||||
loan-to-value ratio (LTV) | show 🗑
|
||||
long-term capital gain | show 🗑
|
||||
show | A method of describing real property that identifies a parcel of land by reference to lot and bloc numbers within the subdivision, as specified on a recorded subdivision plat.
🗑
|
||||
Machinery Act | show 🗑
|
||||
mailbox rule | show 🗑
|
||||
show | An architectural style in which the top floor or floors of a structure are designed to appear to be the roof. Such a roof has two slopes on each of the four sides of the building, with the upper slope less steeply inclined.
🗑
|
||||
Manufactured Home | show 🗑
|
||||
show | A place where goods can be bought and sold and establish value
🗑
|
||||
Marketable Title | show 🗑
|
||||
show | Provides that if a chain of title can be traced back for 30 years and no other claim has been recorded during that time the title become a marketable title.
🗑
|
||||
Mass appraisal | show 🗑
|
||||
show | The primary method by which local governments recognize development goals.
🗑
|
||||
Material fact | show 🗑
|
||||
Mechanics lien | show 🗑
|
||||
Metes-and-bounds description | show 🗑
|
||||
mitigation | show 🗑
|
||||
show | Multiple listing services
🗑
|
||||
show | A dwelling consisting of a series of rooms or units built off-site according to the NC State Building Code; is considered real property as soon as it assembled on the land. May be multi-storied
🗑
|
||||
show | Governmental regulation of the amount of money in circulation through such institutions as the federal reserve board.
🗑
|
||||
show | Fixed objects used to establish real estate boundaries. Ex.: stones, trees, lakes, streets, markers placed by surveyors.
🗑
|
||||
show | A conditional transfer or pledge of real estate as security for the payment of a debt. Also the document creating a mortgage lien in a lien theory state.
🗑
|
||||
show | A mortgage loan company that originates, services, and sells loans to investors.
🗑
|
||||
show | A lien or charge on the property of the mortgagor that secures the underlying debt obligations.
🗑
|
||||
mortgage servicing disclosure statement | show 🗑
|
||||
Mortgagee/mortgagor | show 🗑
|
||||
show | The first comprehensive law in the nation passed by a state to regulate construction unprotected mountain ridges.
🗑
|
||||
show | states that if the dwelling has four or less units and the owner lives in one of the units, it is exempt from the Fair Housing Act.
🗑
|
||||
Multiperil policy | show 🗑
|
||||
show | A deliberate agreement between parties offer and acceptance; "meeting of the minds." A requirement of a legally enforceable contract.
🗑
|
||||
show | law designed to protect, preserve, and give management guidelines in coastal areas of the state and places a severe limitation on developments
🗑
|
||||
NC Dredge and Fill Act | show 🗑
|
||||
show | The State law of descent that dictates distribution of the real and personal property of the deceased that died without a will.
🗑
|
||||
NC Leaking Petroleum Underground Storage Tank Cleanup Act | show 🗑
|
||||
NC Sediment Pollution Control Act | show 🗑
|
||||
negative amortization | show 🗑
|
||||
show | when agents unintentionally misinform a buyer, seller, tenant, or landlord concerning a material fact because they do not have actual knowledge of the fact, b/c they have incorrect information, or b/c of a mistake by the agent.
🗑
|
||||
show | takes place when agents do not have actual knowledge of a material fact but should reasonably have known of such a fact.
🗑
|
||||
show | a written promise or order to pay a specific sum of money that may be transferred by endorsement or delivery. The transferee then has the original payee's right to payment.
🗑
|
||||
net lease | show 🗑
|
||||
net listing | show 🗑
|
||||
Net operating income (NOI) | show 🗑
|
||||
show | Real property uses that were legally established before adoption of current zoning plan, but have been "grandfathered".
🗑
|
||||
show | A tenant's right to occupy real estate during the term of a lease, generally considered a personal property interest; nonfreehold estate.
🗑
|
||||
Nonhomogeneity | show 🗑
|
||||
show | a foreclosure under power of sale in which the deed of trust does not have to be foreclosed through a court action.
🗑
|
||||
show | Specifies that a condo is created and established when the developer executes and records a declaration of its creation in the county where the property is located
🗑
|
||||
show | State fair housing law containing similar prohibitions to those of the federal fair housing law. Unlike the federal law, however, the north carolina law does not exempt owners who are selling their own property, and it does exempt the rental of the unit i
🗑
|
||||
North Carolina human Relations Commission | show 🗑
|
||||
show | The state governmental agency whose primary duties include making rules and regulations to protect the general public involved in real estate transactions, granting licenses to real estate brokers, and suspending or revoking licenses for cause.
🗑
|
||||
North carolina sediment pollution control act | show 🗑
|
||||
North carolina time-share act | show 🗑
|
||||
North Carolina Vacation Rental Act | show 🗑
|
||||
Note | show 🗑
|
||||
show | Substituting a new contract for an old one or substituting new parties to an existing contract.
🗑
|
||||
Obsolescence | show 🗑
|
||||
show | A permit used by the appropriate local governing body to establish that the property is suitable for habitation by meeting certain safety and health standards.
🗑
|
||||
Octennial reappraisal | show 🗑
|
||||
Offer and Acceptance | show 🗑
|
||||
show | In NC, the most common title for a real estate sales contract
🗑
|
||||
show | Administers the Federal Fair Housing Act under the direction of the Secretary of HUD.
🗑
|
||||
show | Monitors and regulates the savings and loan industry. Ots was created by the financial institutions reform, recovery, and enforcement act (firrea).
🗑
|
||||
show | maximum amount of security deposit if tenancy is from month to month.
🗑
|
||||
show | A listing agreement under which the broker's commission is contingent on the broker personally producing a ready, willing, and able buyer before the property is sold by the seller or another broker.
🗑
|
||||
show | a line of credit allowing the mortgagee to make additional future advances of funds to the mortgagor, and are generally set up as home equity loans.
🗑
|
||||
show | An abstract of title that a lawyer has examined and is certified to be, in the lawyer’s opinion, an accurate statement of the facts concerning the property ownership.
🗑
|
||||
show | an agreement b/w property owner and possible buyer, secured by the payment of an option fee, to buy or not to buy property within a specific time period at negotiated terms.
🗑
|
||||
show | an agency option a firm may use when the consumer is willing to commit to an exclusive written buyer agency relationship.
🗑
|
||||
show | A type of zoning that is superimposed over another type of zoning.
🗑
|
||||
show | A carry– over or protection clause in a listing contract that says the listing broker is entitled to commission for a time period after expiration of the listing term if the property is transferred to a prospect that the broker introduced to the property
🗑
|
||||
show | An insurance policy that combines the coverage of property insurance and liability insurance.
🗑
|
||||
show | a loan that includes not only the real estate, but also all fixtures and appliances installed on the premises; has been used extensively in financing furnished condo units
🗑
|
||||
show | The illegal practice of inducing homeowners to sell their properties by making representations regarding the entry or prospective entry of persons of a particular protected class into the neighborhood.
🗑
|
||||
show | A rule of evidence providing that a written agreement is the final expression of the agreement of the parties, not to be varied or contradicted by prior or contemporaneous oral or written negotiations.
🗑
|
||||
show | a loan in which the monthly principal and interest payments are a constant amount, but that payment amount is not sufficient to completely pay off the loan within the loan term; balloon payment due at maturity
🗑
|
||||
show | The division of contents’ interests in real property when all parties do not voluntarily agree to terminate the co– ownership; takes place through court procedures.
🗑
|
||||
Party wall | show 🗑
|
||||
Payment cap | show 🗑
|
||||
percentage lease | show 🗑
|
||||
show | A test of the soil to determine whether it will absorbing and drain water adequately to use a septic system for sewage disposal; a soil evaluation test.
🗑
|
||||
Personal Property or Personality | show 🗑
|
||||
physical deterioration | show 🗑
|
||||
pier | show 🗑
|
||||
show | the slope of a roof measured as the vertical distance in inches (rise) divided by the horizontal distance in feet (run)
🗑
|
||||
PITI | show 🗑
|
||||
show | A planned combination of diverse land uses, such as housing, recreation, and shopping, in one contained development or subdivision.
🗑
|
||||
Plat Map | show 🗑
|
||||
show | The point at which a metes and bounds description begins.
🗑
|
||||
show | The state's inherent authority to create and adopt regulations necessary to protect the public health, safety and general welfare of the citizenry.
🗑
|
||||
show | The form of foreclosure used in a title theory state; also called a nonjudicial foreclosure.
🗑
|
||||
Predatory Lending Act | show 🗑
|
||||
show | The consideration for an insurance policy.
🗑
|
||||
show | expenses that have already been paid by the seller prior to closing and the buyer needs to rebate that portion to the seller; generally real estate taxes or HOA dues.
🗑
|
||||
prepayment penalty clause | show 🗑
|
||||
Price-fixing | show 🗑
|
||||
primary mortgage market | show 🗑
|
||||
principal | show 🗑
|
||||
show | Property taxes and special assessments, then in order of time and date files (pure race), except mechanics lien, which dates to date labor began or materials were first provided.
🗑
|
||||
show | insurance provided by a private carrier that protects a lender against a loss in the event of a foreclosure and deficiency
🗑
|
||||
show | rights arising from the contract itself
🗑
|
||||
privity of estate | show 🗑
|
||||
show | A legal process by which a court determines who will inherit a decedent’s property and what the estate’s assets are.
🗑
|
||||
show | The effort that began a chain of events that brings about the desired result. Under an open listing, the broker who is the procuring cause of the sale receives the commission.
🗑
|
||||
show | written promise to repay a debt in definite installments with interest.
🗑
|
||||
show | A policy that provides property owner coverage for the basic structure on that property.
🗑
|
||||
property management agreement | show 🗑
|
||||
show | someone who preserves the value of an investment property while generating income as an agent for the owner.
🗑
|
||||
Property Report | show 🗑
|
||||
show | A lease given by the corporation that owns a cooperative apartment building to the shareholder for the shareholder's right as a tenant to an individual apartment.
🗑
|
||||
prorations | show 🗑
|
||||
show | Race, Color, Religion, National Origin, Sex, Handicapped, Familial Status
🗑
|
||||
show | Used to guarantee a broker a commission if that particular property is sold to a specific buyer.
🗑
|
||||
Protective covenant | show 🗑
|
||||
show | A real estate licensee who performs real estate activities under the supervision of a licensed real estate broker-in-charge. Must complete post-licensing courses to remove the provisional license status
🗑
|
||||
Public offering statement | show 🗑
|
||||
puffing | show 🗑
|
||||
Pur Autre Vie | show 🗑
|
||||
show | a note secured by a mortgage or deed of trust given by a buyer as a borrower, to a seller, as lender, as part of the purchase price of the real estate.
🗑
|
||||
show | Estimate based on the quantities of raw materials needed to replace the subject structure as well as of the current price of such materials & their installation costs.
🗑
|
||||
Quick Take | show 🗑
|
||||
show | A court action to remove the cloud on the title.
🗑
|
||||
Quitclaim Deed | show 🗑
|
||||
radon | show 🗑
|
||||
rafter | show 🗑
|
||||
Rate cap | show 🗑
|
||||
Ratification | show 🗑
|
||||
ready, willing, and able buyer | show 🗑
|
||||
show | Land; a portion of the earth's surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached to it, whether naturally or artificially
🗑
|
||||
Real estate agents are obligated by licensing law and Commission rules to disclose all offers to sellers immediately, but no later than ___ days from the date of the offer | show 🗑
|
||||
show | Trust ownership of real estate by a group of individuals who purchase certificates of ownership in the trust, which in turn invest the money in real property and distributes the profits back to the investors free of corporate income tax.
🗑
|
||||
Real estate license law | show 🗑
|
||||
Real estate mortgage investment conduit (remic) | show 🗑
|
||||
show | Federal law that requires federally chartered or insured lenders or provide buyers and sellers of 1-4 family homes, coops, condos with info on all settlement costs
🗑
|
||||
show | A fund established in some states from real estate license revenues to cover claims of aggrieved parties who have suffered monetary damage to the actions of a real estate licensee.
🗑
|
||||
Real Estate Settlement Procedures Act (RESPA) | show 🗑
|
||||
show | defined as the land, everything that is permanently attached to the land (or goes with) the land
🗑
|
||||
reality of consent | show 🗑
|
||||
Realtor® | show 🗑
|
||||
reconciliation | show 🗑
|
||||
show | Making documents that affect property ownership readily available as matters of public record.
🗑
|
||||
show | A system established in 1785 by the federal government, providing for surveying and describing land by reference to principal meridians and baselines, used mainly west of the mississippi river.
🗑
|
||||
show | A 10– day period of time after a foreclosure auction during which a property owner in default has the right to redeem the pledged real estate by paying the loan balance plus interest, and costs; also called the upset bid period.
🗑
|
||||
show | Illegal practice by lending institutions to deny or discourage loan application in an area based on its racial composition or deterioration.
🗑
|
||||
show | The document signed by a lender indicating the amount required to pay loan balance in full and satisfy the debt; used in the settlement process to protect both the seller’s and the buyer’s interest.
🗑
|
||||
Reference to a recorded deed | show 🗑
|
||||
show | A method of land description that uses lot and block numbers.
🗑
|
||||
show | The document that developers of time – shares in north carolina must obtain from the north carolina real estate commission before they can offer a project’s time – shares for sale to the public.
🗑
|
||||
show | An appraisal principal that states that between dissimilar properties, the value of the better quality property is affected adversely by the presence of the lesser quality property.
🗑
|
||||
show | implements the Truth in Lending Act requiring credit institutions to inform borrowers of the true cost of obtaining credit
🗑
|
||||
show | Gradual recession of water which uncovers land that usually belongs to the riparian owner.
🗑
|
||||
Remainder Interest | show 🗑
|
||||
show | One entitled to receive a remainder interest in some estate sometime in the future.
🗑
|
||||
Replacement cost | show 🗑
|
||||
Reproduction cost | show 🗑
|
||||
rescission | show 🗑
|
||||
show | all property used for housing, from acreage to small city lots. both single family & multifamily, in urban, suburban, and rural areas.
🗑
|
||||
Residential Rentals Agreements Act | show 🗑
|
||||
show | The organization created by the financial institutions reform, recovery, and enforcement act (firrea) to liquidate the assets of failed savings and loan associations.
🗑
|
||||
show | Private agreements usually imposed by the owner when property is sold that limits the way the real estate ownership may be used; frequently used by owner/developer to maintain specific standards in a subdivision. The covenants are appurtenant. Also call
🗑
|
||||
show | Typically a small amount of compensation, usually paid up front by the buyer/client when the buyer-agency agreement is established.
🗑
|
||||
show | illegal eviction of a tenant that has exercised protected rights under the law.
🗑
|
||||
show | Deed transfer tax paid by the seller and required to be noted on a deed by state law; the rate is $1 per $500 of sales price. Round sales prices to the next 500 and divide by 500.
🗑
|
||||
show | allows senior citizens on fixed incomes to utilize the equity buildup in their homes by receiving regular monthly payments from the bank
🗑
|
||||
Reversionary Interest | show 🗑
|
||||
show | a heavy horizontal board, set on edge at the apex of the roof, to which the rafters are attached
🗑
|
||||
Right – of – way | show 🗑
|
||||
right of first refusal | show 🗑
|
||||
Right of Survivorship or Tenancy by the Entirety | show 🗑
|
||||
Riparian Rights | show 🗑
|
||||
show | sheets of flat, heavy material place on top of the roof boards to insulate and water proof the roof
🗑
|
||||
Rules and regulations | show 🗑
|
||||
show | the insulation value of materials
🗑
|
||||
show | used as a means of financing large commercial or industrial plants; a transaction in which an owner sells improved property and, as part of the same transaction, signs a long-term lease to remain in possession of the premises.
🗑
|
||||
show | AKA the market data approach. When an estimate of value is obtained by comparing the subject property with recently sold comparable properties.
🗑
|
||||
Sandwich lease | show 🗑
|
||||
show | a document acknowledging the full repayment of a mortgage debt
🗑
|
||||
show | A finite supply
🗑
|
||||
show | a market for the purchase and sale of existing mortgages
🗑
|
||||
Self-help eviction | show 🗑
|
||||
show | The tract over which an easement runs.
🗑
|
||||
Setback | show 🗑
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show | The process of adjusting and prorating credits, debits, and closing expenses to conclude a real estate transaction; referred to as closing.
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Settlement statement (hud – 1) | show 🗑
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Severalty | show 🗑
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show | Changing an item of real estate to personal property by detaching it from the land; for example, cutting down a tree.
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show | In an agricultural lease, the agreement between the landowner and the tenant farmer to split the crop or the profit from its sale, actually sharing the crop.
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show | a mortgage loan in which the lender, in exchange for a loan with a lower interest rate, participates in the profits (if any) the borrower receives when the property is eventually sold.
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show | insulating material that is applied to the wall framing; then siding is applied on top of it
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show | exterior roofing material frequently made of fiberglass, asphalt, or wood
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show | When a lender allows a borrower in default on mortgage loan payments to sell the mortgage property for less money than necessary to satisfy the load to avoid the delay and expense of a foreclosure sale; lender usually "forgives" the balance owned after th
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short-term capital gain | show 🗑
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show | boards nailed horizontally to the vertical studs, with or without intervening sheathing, to form the exposed surface of the outside walls of the building; can be made of wood, metal, or masonry sheets.
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show | the lowest horizontal member of the house frame; also on a window or door
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show | The personal preference of people for one location over another, not necessarily based on objective facts and knowledge
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show | a flat, horizontal reinforced concrete area, usually the interior floor of a building but also an exterior or a roof area
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soffit | show 🗑
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soil suitability test | show 🗑
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show | the bottom of the wall frame that connects the studs to the flooring
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Special agent | show 🗑
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Special assessments | show 🗑
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show | 1)acceleration clause 2)prepayment penalty clause 3)due-on-sale clause
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Special purpose | show 🗑
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show | A conveyance that carries the warranty that the property was unencumbered by the grantor.
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Specific lien | show 🗑
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show | A legal action to compel a party to carry out the terms of a contract.
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show | Usually a house in which two or more floors are located directly above one another, and one or more additional floors, adjacent to them are placed at a different level; a tri– level.
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Spot Zoning | show 🗑
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Square foot method | show 🗑
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State( tenancy) from period to period | show 🗑
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show | A state law that requires that certain instruments that convey interest in real estate be in writing to be legally enforceable, such as deeds, real estate sales contracts, and certain leases.
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show | The law pertaining to the period of time within which certain actions must be brought to court or be lost.
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show | 10 day period after the auction in which the borrower can try to raise the necessary funds to redeem the property.
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statutory right of redemption | show 🗑
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show | The channeling of homeowners to particular neighborhoods based on the presence or absence of a protected class.
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show | Property regarded as undesirable because of events that occurred there; also called psychologically impacted property. Some conditions that typically stigmatize a property are murder, gang-related activity, proximity to a nuclear plant, and even the alle
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show | When the cost of an asset is depreciated evenly over its useful life.
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straight-line amortized mortgage | show 🗑
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show | not used in NC; after appropriate notice has been given to the delinquent borrower and proper papers prepared, the court establishes a specific time period during which the balance of the defaulted debt must be paid in full
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show | the vertical members in the wall framing; usually placed 16-24 inches apart and serve as main support for the roof and/or the story above
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show | the fiduciary relationship between the subagent ant the principal
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Subagent | show 🗑
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Subdivision | show 🗑
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Subdivision and development ordinances | show 🗑
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subfloor | show 🗑
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show | The support of the surface of land by the land's subsurface; duty of the owned of subsurface rights to support the surface of the land.
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show | the leasing of premises by a tenant to a third party for part of the lessee's remaining term
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subordination agreement | show 🗑
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subprime mortgage | show 🗑
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show | Any rights the insured had to sue the person who caused the damage are assigned to the insurance company that has already paid the insured for the damages.
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show | An appraisal principle that states that the maximum value of a property tends to be set by the cost of purchasing an equally desirable and valuable substitute property, assuming that no costly delay is encountered in making the substitution.
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show | Ownership rights in a parcel of real estate to the water, minerals, gas, oil, and so forth that lie beneath the surface of the property.
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show | Due and payable by the buyer/principal on the signing and acceptance of an offer to purchase property found by the buyer's agent.
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show | the only legal way a landlord can evict a tenant; through a hearing before a magistrate in small claims court.
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show | The amount of goods available in the market to be sold at a given price. The term is often coupled with demand'
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show | An agreement by an insurance or a bonding company to be responsible for certain possible defaults, debts, or obligations contracted for by an insured party; in essence, a policy insuring one’s personal or financial integrity. In the real estate business,
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show | Ownership rights in a parcel of real estate that are limited to the surface of the property and do not include the air above it (air rights) or the minerals below the surface (subsurface rights).
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show | gives the purchaser information about the exact location and size of the property
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Tacking | show 🗑
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Tax credit | show 🗑
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show | An instrument, similar to a certificate of sale, given to a purchaser at a tax sale. See also certificate of sale.
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show | Lien that is attached to real property as of the listing date.
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show | A court – ordered sale of real property to raise money to cover delinquent taxes.
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show | The process by which a government or a municipal quasi-public body raises monies to fund its operation.
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tax-deferred exchange | show 🗑
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Tenancy in Common | show 🗑
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show | 1) Owned by Husband and Wife ONLY 2)each own 100% 3) Both must sign when sold 4)a) Divorce changes to tenants in common automatically but legal separation does not b)if not stated, the law presumes, tenants by entire 5) right of survivorship (automatic)
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Tenant Security Deposit Act | show 🗑
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Term loan | show 🗑
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Testate | show 🗑
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the four characteristics of value | show 🗑
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show | offer to purchase
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show | Broker
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TICAM | show 🗑
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time is of the essence | show 🗑
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show | Any right to occupy a unit of real property during five or more separated time periods over a period of at least five years. 5 day cancellation (without penalty) 10 days developer keeps money in trust; 30 days to refund; $500 fine to developer (per violat
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Title | show 🗑
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show | A contract by which the insured is compensated against any losses sustained as a result of defects in a title.
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show | The examination of all public records that might affect a title
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title theory | show 🗑
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To form a valid real estate sales contract there must be an _____ made, a(n)___________, and ________. | show 🗑
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top plate | show 🗑
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Topographic survey | show 🗑
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Torrens system | show 🗑
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Tort | show 🗑
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show | A legal test applied by the courts to determine whether an item is a fixture (and. therefore, part of the real property) or personal property.
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|
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Total circumstances test | show 🗑
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show | Do own land underneath unit (footprint) can not stack units vertically; no cancellation period; own entire unit (and half of party wall); Common areas owned by Homeowners association
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Trade Fixture | show 🗑
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show | Tax stamps required to be affixed to a deed by state or local law; excise tax, formally known as revenue stamps.
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Transferability | show 🗑
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Trigger terms | show 🗑
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Trust | show 🗑
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Trust funds | show 🗑
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Trustee | show 🗑
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show | A deed of conveyance executed by a trustee and generally used to transfer title after a foreclosure action.
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Truth – in– lending act | show 🗑
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show | maximum amount of security deposit if tenancy is longer than month to month.
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two weeks' rent | show 🗑
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show | Often used to store petroleum, if leaking can contaminate groundwater, only 10% of tank needs to be underground to require monitoring
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Undivided interest | show 🗑
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show | Has all of the elements of a valid contract; however, neither party can sue the other to force performance; valid as between the parties.
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|
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show | A codification of commercial law, adopted in most states, that attempts to make uniform all laws relating to commercial transactions, including chattel mortgages and bulk transfers. When chattels are purchased on credit, security agreement. To give noti
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|
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Uniform Electronic Transactions Act (UETA) | show 🗑
|
||||
show | The standard hud– 1 closing statement form required to be given to the borrower, lender, and seller at or before settlement by the closing agent in a transaction covered under the real estate settlement procedures act.
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|
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unilateral contract | show 🗑
|
||||
show | Estimating the replacement cost of a structure based on the construction cost per unit of measure of individual building components, including material, labor, overhead & builders profit.
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|
||||
show | one who is empowered to do anything the principal could do personally
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|
||||
show | a 1970s foam insulation that released gases that can cause respiratory problems such as skin irritations or asthma attacks
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||||
usury | show 🗑
|
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show | The capacity to satisfy future owners needs and desires; how future owners can make good use of the property.
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|
||||
VA-guaranteed loan | show 🗑
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show | A contract that complies with all the essential elements of a contract.
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|
||||
show | The power of a good or service to command other goods or services in exchange. Also, the present worth of future benefits arising from the ownership of real property.
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|
||||
Variance | show 🗑
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||||
Vendee/vendor | show 🗑
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||||
show | A contract that has no legal force or effect. It is unenforceable in a court of law b/c it does not meet the essential elements of a contract.
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|
||||
Voidable Contract | show 🗑
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||||
walk-through | show 🗑
|
||||
show | An improper use or abuse of a property by a possessor who holds less than fee ownership, such as a tenant, life tenant, mortgagor, or vendee. Such waste ordinarily impairs the value of the land or the interest of the person holding the title or the rever
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|
||||
water table | show 🗑
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||||
Wetlands | show 🗑
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||||
when a lease is sublet, the original tenant retains primary liability for paying the rent; this interest in the real estate is known as _____ _______. | show 🗑
|
||||
Will | show 🗑
|
||||
show | when agents who have actual knowledge of a material fact deliberately misinform a buyer, seller, tenant, or landlord concerning such fact.
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|
||||
Willful omission | show 🗑
|
||||
Working with Real Estate Agents | show 🗑
|
||||
wraparound loan | show 🗑
|
||||
show | the return or profit on a loan
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|
||||
Zoning Ordinances | show 🗑
|
||||
Zoning powers are conferred on municipal government's by NC's_______________ _____________ through the General Assembly. | show 🗑
|
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Created by:
whitwill
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