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6 Cards in this Set
- Front
- Back
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Abstract of title |
The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate. |
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Acceleration clause |
The clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on an installment payments or other covenant. |
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Accession |
Acquiring title to addictions 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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Accretion |
The increase or addition of land by the deposit of sand or soil washed up naturally from a river, Lake, or sea |
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Accrued depreciation |
Loss in value resulting from the property's physical deterioration, external depreciation (decrease in price), and functional obsolescence. |
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Accrued items |
On a closing statement, items of expense that are injured but not yet payable, such as interest on a mortgage loan or taxes on real property |
