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26 Cards in this Set
- Front
- Back
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Appraiser |
One shoe is trained and educated in the methods of determining the value of property through the analysis of various factors which determine said value |
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Narrative form appraisal report |
The most detailed of the appraisal reports in which conclusions ares supported and explained int |
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Intestate |
Dies without a will |
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Fee simple defeasible |
Title is not absolute but possibly may be annulled or voided at a later date |
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Fee simple absolute |
Maximum degree of ownership |
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Duress |
Forcing one to do that which he would not voluntarily do |
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Statute of frauds |
State laws requiring contracts to be in writing |
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Statute of limitation |
State laws that Deal with time |
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Testate |
Dies with a will |
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Injunction |
Court order preventing one from acting or restraining some action. |
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Emblements |
Annual crops produced for sale |
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Abandonment |
Voluntary relinquishment of rights of ownership or another interest |
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Puffing |
An opinion not made as a representation of fact but intended to enhance the value of the property |
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Deed |
Evidence of transfer |
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Title |
Evidence of ownership |
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Fixture |
Personal property that is attached to real property and is legally treated as real property |
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Grantor |
One who grants property or property rights |
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Gross rent multiplier |
The quotient of the sale price divided by the gross rent |
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Void |
Having no legal force or binding affect |
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Lein |
An encumbrance against property for money, either voluntary or involuntary |
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A contract formed by the actions of the parties than by their written or oral agreement |
Implied Contract |
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Appraising the value of property by comparing the price of similar properties |
Market data approach |
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May be voided, but not void in itself |
Voidable |
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The person who transfers property by sale. Another word for seller; commonly used in land contract sales |
Vendor |
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Usually title without ownership rights such as the title placed in a trustee under a deed or trust or the title in a vendor under a land contract |
Legal title |
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A listing under which a real estate agent receives any amount over a given bet amount to the seller |
Net listing |
