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35 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Back End Ratio |
A ratio that indicates what portion of an individuals income is used to pay all long term debt. |
Front End Ratio |
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Balloon Payment |
A lump sum paid to liquidate a debt or paid anytime during loan period. |
Interest Only, Straight Note, Term Loan |
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Band of Investment |
An appraisal method used for income property that establishes a capitalization rate by using mortgage interest rates available, rate of return required, and debt and equity in said property. |
Capitalization Rate |
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Bankruptcy |
A financial situation when a persons liabilities exceed ability to pay |
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Bare-Naked Title |
Title held by a trustee in a deed of trust document. The trustee does not have any of the bundle rights provided in ownership |
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Bargain and Sale Deed |
A conveying deed that has three covenants but no warranties. Frequently in an operation of law transaction. |
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Base Line (Principal) |
In the Government rectangular survey system, the reference line that runs east and west and crosses the Principal meridian. |
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Basis |
The actual price paid for the property |
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Basis Point |
1/100 of one percent |
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Bearing Wall |
A walk ins building that supports a ceiling load |
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bench Mark |
A mark made on a permanent object that has a known location and elevation |
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Beneficiary Deed |
A deed that is used to transfer real property to ones heirs without going through the probate process |
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Beneficiary |
The lender under a deed of trust security. |
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Bequest |
Leaving personal property to an heir through a will |
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Bilateral contract |
A contract binding two or more parties |
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Bill of Sale |
A document used to transfer personal property |
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Blind Ad |
A real estate ad that does not indicate that a brokerage firm is involved |
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Blanket Mortgage |
A security that covers more than one parcel of land |
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Block Busting |
An illegal action usually concerning fair housing that creates panic selling for monetary gain |
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Blue Sky Law |
State laws regulating the sale of investment securities |
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Boiler Plate |
The standard pre-printed language that exists in a Contract |
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Bona Fide Buyer |
A Buyer who is acting in good faith for valuable consideration |
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Book Value |
The value of an asset carried on the books of business |
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Bona Fide Buyer |
A Buyer who is acting in good faith for valuable consideration |
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Boot |
Anything of value given to make up the difference in equities between two properties exchanged |
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Breach of Contract |
Failure to perform a contractual obligation |
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Bring Down Fee |
Updating the title report from the original report to the recording of the loan documents |
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Broker |
A third party who, for a fee, acts as an intermediary in a business transaction |
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Brown v Board of Education |
Court case that overturned Plessy v Ferguson |
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Budget Payment |
Monthly payment including principal interest, taxes and insurance. |
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Buffer Zone |
An area of land that separates one type of zoning from another |
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Building codes |
Special construction standards enforced through a permit |
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Bulk Transfer |
The sale of a business which involves transfer of inventory |
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Bundle of Rights |
Legal rights of real property ownership: Possession usage, transfer, encumber, exclusion. |
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Buyer Broker |
A licensee who represents the buyer only in a fiduciary manner |
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