front 1 Income to debt ratio | back 1 The amount of money one owes when compared to the amount they make. |
front 2 Capital in investment is | back 2 Investment money. |
front 3 Contract cancellation is | back 3 Termination of a contract without undoing acts that have already been performed under contract. |
front 4 A zone is | back 4 An area of land designated for development of a specific kind. |
front 5 Bailment is | back 5 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. |
front 6 A homeowner's assocation is | back 6 An association comprised of the homeowners in a subdivision who are responsible for the care of the property. |
front 7 Exclusionary zoning is | back 7 The act of zoning land in a discriminatory manner that prevented minorities and low-income residents from living in certain areas. |
front 8 To indemnify is to | back 8 Pay back a debt. |
front 9 Abstraction is | back 9 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. |
front 10 A rate adjustment is | back 10 The date at which the new rate goes into effect on an adjustable rate mortgage. |
front 11 Utility value refers to | back 11 The usefulness of a property. |
front 12 Punitive damages are | back 12 An award in addition to compensatory damages, given to punish the defendant for malicious conduct and discourage others from acting in kind. |
front 13 A key lot is | back 13 A lot with other lots surrounding it at the back, and on its side. |
front 14 A tract is | back 14 A plot of land of undefined size. |
front 15 A household is | back 15 Any dwelling with one or more people. |
front 16 A joint note is | back 16 A note signed by two or more people who are equally liable for repayment. |
front 17 A kickback is | back 17 A payment to someone other than the buyer or seller in a transaction. |
front 18 Agency is | back 18 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. |
front 19 An act is | back 19 A statute. |
front 20 A positive easement is | back 20 An easement that allows the dominant tenant the ability to use the servient estate to their benefit, in a specific manner. |
front 21 A maturity date is | back 21 The date on which a loan is due in full. |
front 22 A feasibility study is | back 22 A study to predict the profitability of a proposed building project. |
front 23 A tax lien is | back 23 An encumbrance placed on a property due to non-payment of taxes. |
front 24 Jurisdiction is | back 24 The power of a court to hear and try a case. |
front 25 A fiduciary duty is | back 25 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. |
front 26 A bequest is | back 26 A gift of personal property granted to a party/parties from their personal will. |
front 27 A grant is | back 27 A deed. |
front 28 Redlining is | back 28 The refusal of a bank to loan money to people from lower-income neighborhoods. |
front 29 A balloon payment is | back 29 When the final payment on a loan is greater than the installments that came before it, the final installment is termed a balloon payment. |
front 30 A dealer is | back 30 Anyone who holds property for sale. |
front 31 A lesse is | back 31 A tenant. |
front 32 Laches is | back 32 An unreasonable delay in making an assertion or claim. |
front 33 A general lien is | back 33 A lien on all of the property of a debtor. |
front 34 Capital gain is | back 34 Profit from the sale of a property. |
front 35 A tax sale is | back 35 The sale of a property after extended non-payment of taxes. |
front 36 An origination fee is | back 36 A fee that is paid to a lender for originating and closing the loan. |
front 37 Underwriting is | back 37 Ensuring property against loss. |
front 38 A vendor is | back 38 A seller of property. |
front 39 A survey is | back 39 The finding, mapping, and plotting of a parcel of land. |
front 40 Just value of a property is | back 40 Its fair market value. |
front 41 A servient tenement is | back 41 A property on which an easment has been placed. |
front 42 A note is | back 42 A signed document binding one party to repay a loan from another party. |
front 43 Consequential damages are | back 43 Damages awarded for the compensation of losses that were a forseeable act of a defendant's malicious actions. |
front 44 A mandate is | back 44 Rules or direction given from a higher authority to a lesser authority. |
front 45 A feasibility study is | back 45 A study to predict the profitability of a proposed building project. |
front 46 An open listing is | back 46 Giving more than one real estate agent the right to list your property, only compensating the one that manages to sell the property. |
front 47 Negative amortization is | back 47 An increase in the principal of a loan from unpaid interest left over at the end of a mortgage payment. |
front 48 A dealer property is | back 48 Property held for sale to customers rather than as a long-term investment. |
front 49 Contract cancellation is | back 49 Termination of a contract without undoing acts that have already been performed under contract. |
front 50 A gross lease is | back 50 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. |
front 51 A partial release clause is | back 51 A clause that allows for a portion of a property to be released upon payment of a specific amount of money. |
front 52 A fiduciary duty is | back 52 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. |
front 53 Accelerated payment means | back 53 The borrower must pay back the entire loan amount at once |
front 54 Capacity is | back 54 The legal ability to perform an act, or specific acts. |
front 55 A dealer is | back 55 Anyone who holds property for sale. |
front 56 A joint note is | back 56 A note signed by two or more people who are equally liable for repayment. |
front 57 A quiet title is | back 57 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. |
front 58 Indirect cost of ownership is | back 58 The added costs of owning or constructing a home that are not directly related to the home purchase/development. |
front 59 A quantity survey is | back 59 A method of assessing the total cost and value of a new construction. |
front 60 A wrap around loan is | back 60 A loan made up of a collection of loans. |
front 61 Jurisdiction is | back 61 The power of a court to hear and try a case. |
front 62 A case law is | back 62 Rules of law generated in court decisions. |
front 63 A grantor is | back 63 A seller. |
front 64 A maintenance clause is | back 64 A clause in a mortgage agreement that binds the borrower to keep the home in good standing for the term of their mortgage. |
front 65 Radon is most likely to contaminate | back 65 Atmosphere. |
front 66 What is a deed | back 66 A legal document that effectuates the transfer of real property ownership. |
front 67 What does a quitclaim deed not include | back 67 Expressed or implied warranties. |
front 68 An abstract for a property title does what: | back 68 Summarizes all of the articles affecting a property |