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30 Cards in this Set
- Front
- Back
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COLOR OF TITLE
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WHEN TITLE APPEARS GOOD BUT IS ACTUALLY NOT-OCCURS WHEN A PERSON WHO DOES NOT OWN PROPERERTY DEEDS TO ANOTHER
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COMMINGLING
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ILLEGAL ACT OF BROKER MIXING CLIENT MONIES WITH PERSONAL FUNDS-REQUIRED TO MAINTAIN A SEPERATE ESCROW ACCOUNT
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COMMISSION
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CONSIDERATION PAID TO REAL ESTATE BROKER FOR SERVICES RENDERED
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COMMON ELEMENTS
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USED BY ALL RESIDENTS OF CONDOMINIUM
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COMMON LAW
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THE BODY OF LAW BASED ON CUSTOM, USAGE AND COURT DECISIONS
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COMMUNITY PROPERTY
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TYPE OF PROPERTY OWNERSHIP WHERBY EACH SPOUSE HAS EQUAL INTEREST IN PROPERTY ACQUIRED DURING MARRAGE
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COMPARABLES
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RECENTLY SOLD PROPERTY THAT ARE SIMULAR TO THE PROPERTY BEING VALUED
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COMPOUND INTEREST
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INTEREST PAID UPON PRINCIPLE PLUS ACCRUED INTEREST
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CONDEMNATION
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JUDICIAL PROCEEDING ENFORCING THE POWER OF EMINENT DOMAIN
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CONDITIONAL CONTRACT
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A CONTRACT THAT CANT BE CONSUMMATED UNTIL ALL CONDITIONS CAN BE FULFILLED
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CONDOMINIUM
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TYPE OF OWNERSHIP IN A MULTIUNIT BUILDING IN WHICH OWNER HOLDS FEE SIMPLE INTEREST IN PARTICULAR UNIT PLUS OWNS COMMON AREAS WITH OTHER JOINT TENANTS
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CONFORMITY PRINCIPLE
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APPRISAL PRINCIPLE THAT HOLDS THAT PROPERTY VALUES ARE HIGHEST WHEN NEIGHBORHOOD IS HOMOGENEOUS IN PURPOSE
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CONSIDERATION
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SOMETHING THAT THE PARTIES TO A CONTRACT AGREE TO BE OF VALUE, SUCH AS PURCHASE PRICE OF A PROPERTY
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CONSTANT PAYMENT LOAN
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A LOAN IN WHICH PAYMENTS REMAIN CONSTANT THROUGHT THE LIFE OF THE LOAN
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CONSTRUCTION MORTGAGE
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STRAIGHT BUT SHORT TERM MORTGAGE-NORMALLY PAID TO A BUILDER DURING CONSTRUCTION AS ADVANCES FOR WORK PERFORMED
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CONSTRUCTIVE EVICITION
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TENANT IS FORCED TO REMOVE HIMSELF FROM LEASED PREMISES WITHOUT LIABILITY DUE TO NEGLIGENCE OF LANDLORD
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CONSTRUCTIVE NOTICE
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NOTICE GIVEN TO THE PUBLIC BY RECORDED DOCUMENTS-WHETHER OR NOT A PERSON HAS ACTUALLY VIEWED THESE DOCUMENTS HE IS CHARGED WITH THE KNOWLWEDGE OF SUCH RECORDED INSTRUMENTS
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CONTIGUOUS
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TOUCHING OR ABUTTING
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CONTRACT
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A LEGALLY ENFORCEABLE AGREEMENT BETWEEN TWO OR MORE PARTIES WHO AGREE TO PERFORM OF NOT PERFORM A CERTAIN ACT IN EXCHANGE FOR CONSIDERATION
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CONTRACT FOR DEED
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AGREEMENT BETWEEEN A SELLER AND BUYER FOR THE PURCHASE OF A PARCEL OF REAL ESTATE WHERBY THE BUYER MAKES PAYMNETS TO SELLER AND GAINS TITLE ONLY AFTER THE DEBT HAS BEEN SATISFIED-ALSO KNOWN AS INSTALLMENT CONTRACT
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CONTRACT FOR SALE
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A CONTRACT FOR THE PURCHASE AND SALE OF REAL PROPERETY WHERBY THE BUYER AGREES TO A PURCHASE PRICE SET BY THE SELLER AND SELLER AGREES TO TRANSFER TITLE
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CONTRACTUAL CAPACITY
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THE COMPETENCY OF THE PARTIES TO ENTER INTO A VALID AGREEMENT
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CONVENTIONAL MORTGAGE
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MORTGAGE LOAN NOT GUARANTEED OR INSURED BY ANY GOVERMENT AGENCY-LENDER RELIES SOLELY ON CREDIT OF BORROWER AND REAL PROPEERTY TO SECURE DEBT
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CONVEYANCE
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ACTUAL TRANSFER OF TITLE BY WILL OR DEED
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COOPERATIVE ODWNERSHIP
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OWNERSHIP AS SHARE HOLDERS IN A CORPORATION THAT HOLDS TITLE TO AN APARTMENT BUILDING
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CORPORATION
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A LEGAL ENTITY CREATED TO CONDUCT BUSINESS WITH SAME RIGHTS AS INDIVIDUALS
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COST APPROACH
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APPROACH TO THE ESTIMATION OF VALUE OF REAL PROPERTY WHERBY APPRAISER DETERMINES THE REPRODUCTION COST OF BUILDING MINUS ANY ACCRUED DEPRECIATION, AND ADDS THE LAND VALUE
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COUNTER OFFER
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A NEW OFFER PROPOSED AS A REPLY OR REJECTION OF A OFFER PREVIOUSLY SUBMITTED
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COVENANT
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AGREEMENT BETWEEN TWO OR MORE PARTIES IN WHICH ONE OR ALL PARTIES PROMISE TO PERFORM OR REFRAIM FROM PERFORMING CERTAIN ACTS
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CURTESY
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INTEREST OF HUSBAND IN THE ESTATE OF HIS DECEASED WIFE
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