Income to debt ratio
The amount of money one owes when compared to the amount they make.
Capital in investment is
Investment money.
Contract cancellation is
Termination of a contract without undoing acts that have already been performed under contract.
A zone is
An area of land designated for development of a specific kind.
Bailment is
The act of transferring personal property in trust for the accomplishment of a specific purpose, usually with the intention of benefitting from the property or investment therein.
A homeowner's assocation is
An association comprised of the homeowners in a subdivision who are responsible for the care of the property.
Exclusionary zoning is
The act of zoning land in a discriminatory manner that prevented minorities and low-income residents from living in certain areas.
To indemnify is to
Pay back a debt.
Abstraction is
A method of valuing land. The indicated value of the improvement is deducted from the sale price, though most property abstracts rarely include capital investments and renovations to the home.
A rate adjustment is
The date at which the new rate goes into effect on an adjustable rate mortgage.
Utility value refers to
The usefulness of a property.
Punitive damages are
An award in addition to compensatory damages, given to punish the defendant for malicious conduct and discourage others from acting in kind.
A key lot is
A lot with other lots surrounding it at the back, and on its side.
A tract is
A plot of land of undefined size.
A household is
Any dwelling with one or more people.
A joint note is
A note signed by two or more people who are equally liable for repayment.
A kickback is
A payment to someone other than the buyer or seller in a transaction.
Agency is
A contractual relationship between an agent and their client (buyer/seller), in which the agent is entrusted to act on the behalf of their client, in their best interest.
An act is
A statute.
A positive easement is
An easement that allows the dominant tenant the ability to use the servient estate to their benefit, in a specific manner.
A maturity date is
The date on which a loan is due in full.
A feasibility study is
A study to predict the profitability of a proposed building project.
A tax lien is
An encumbrance placed on a property due to non-payment of taxes.
Jurisdiction is
The power of a court to hear and try a case.
A fiduciary duty is
The duty that a fiduciary owes their client, which is to uphold their client's financial interest over all else, at all time, even their own.
A bequest is
A gift of personal property granted to a party/parties from their personal will.
A grant is
A deed.
Redlining is
The refusal of a bank to loan money to people from lower-income neighborhoods.
A balloon payment is
When the final payment on a loan is greater than the installments that came before it, the final installment is termed a balloon payment.
A dealer is
Anyone who holds property for sale.
A lesse is
A tenant.
Laches is
An unreasonable delay in making an assertion or claim.
A general lien is
A lien on all of the property of a debtor.
Capital gain is
Profit from the sale of a property.
A tax sale is
The sale of a property after extended non-payment of taxes.
An origination fee is
A fee that is paid to a lender for originating and closing the loan.
Underwriting is
Ensuring property against loss.
A vendor is
A seller of property.
A survey is
The finding, mapping, and plotting of a parcel of land.
Just value of a property is
Its fair market value.
A servient tenement is
A property on which an easment has been placed.
A note is
A signed document binding one party to repay a loan from another party.
Consequential damages are
Damages awarded for the compensation of losses that were a forseeable act of a defendant's malicious actions.
A mandate is
Rules or direction given from a higher authority to a lesser authority.
A feasibility study is
A study to predict the profitability of a proposed building project.
An open listing is
Giving more than one real estate agent the right to list your property, only compensating the one that manages to sell the property.
Negative amortization is
An increase in the principal of a loan from unpaid interest left over at the end of a mortgage payment.
A dealer property is
Property held for sale to customers rather than as a long-term investment.
Contract cancellation is
Termination of a contract without undoing acts that have already been performed under contract.
A gross lease is
An agreement where the tenant pays a fixed amount of money, and the landlord covers all of the operating expenses of the property for that period.
A partial release clause is
A clause that allows for a portion of a property to be released upon payment of a specific amount of money.
A fiduciary duty is
The duty that a fiduciary owes their client, which is to uphold their client's financial interest over all else, at all time, even their own.
Accelerated payment means
The borrower must pay back the entire loan amount at once
Capacity is
The legal ability to perform an act, or specific acts.
A dealer is
Anyone who holds property for sale.
A joint note is
A note signed by two or more people who are equally liable for repayment.
A quiet title is
A legal process by which a judge establishes one's right to a certain property as to stop or quiet any further confusion as to who owns the property.
Indirect cost of ownership is
The added costs of owning or constructing a home that are not directly related to the home purchase/development.
A quantity survey is
A method of assessing the total cost and value of a new construction.
A wrap around loan is
A loan made up of a collection of loans.
Jurisdiction is
The power of a court to hear and try a case.
A case law is
Rules of law generated in court decisions.
A grantor is
A seller.
A maintenance clause is
A clause in a mortgage agreement that binds the borrower to keep the home in good standing for the term of their mortgage.
Radon is most likely to contaminate
Atmosphere.
What is a deed
A legal document that effectuates the transfer of real property ownership.
What does a quitclaim deed not include
Expressed or implied warranties.
An abstract for a property title does what:
Summarizes all of the articles affecting a property