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RE Principles Quick Key Terms

  1. abandonment
    voluntary give up of property
  2. abatement
    no or lower real estate tax for new business
  3. alienation
    transfer property to another
  4. acknowledgement
    witness of signature disclosure by notary
  5. broker
    buys and sells
  6. bargain and sale deed
    • no warranties against deed problems; unknown
    • aka deed without warrenty
  7. building code
    standard/ordinance of building construction
  8. buffer zone
    change from high-intensity to low-intensity; levering out zone
  9. broker-salesperson
    licensed and works on behalf of broker
  10. fixture
    personal property permanently fixed to real property; unmoveable
  11. flexible-payment laon
    low mortgage payments in beginning and larger mortgage payments later
  12. forcible detainer suit
    court suit eviction
  13. foreclosure
    sold to satisfy defaulted debt
  14. formal will
    • written document of property transfer upon death of the maker
    • aka witnessed will
  15. fraud
    attentional harm to gain
  16. agency
    relationship between principal and agent; fiduciary relationship
  17. alienation clause
    • immediate due of debt upon sale
    • aka due-on-sale clause
  18. co-ownership
    more than one owner; tenants in common and joint tenants
Author
Blue2xa88
ID
322803
Card Set
RE Principles Quick Key Terms
Description
QUICK key terms
Updated

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