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16 Cards in this Set
- Front
- Back
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Air rights |
the right to use,control,occupy the space above a particular parcel of land. |
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Alienation clause |
A provision in a mortgage saying that a full payment of the debt must be made when transferring the title to the new owner, to avoid the accumulation of the loan. |
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Allodial |
The free ownership of rights in land by individuals. |
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Amortization |
The repayment of a financial obligation over a period of time in a series of periodic installments.This kind of loan reduces the principal |
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Amortized loan |
A financial debt that is paid off over a period of time by a series of periodic payments. |
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APR Annual Percentage Rate |
the yearly cost of credit.Interest Rate plus finance charge. |
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cost depreciation approach |
Also called summation approach;An appraisal method of value arrived at by estimating the reproduction cost,subtracting depreciation and adding value of the land .One method of the cost approach. |
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Credit |
The reputation of a person on how fast he pays his bills when due. |
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cul de sac lot |
A street closed at one end with a curular turnaround. |
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curable |
Depreciation that can be fixed at reasonable cost . |
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customer |
the third party after the principal and the agent |
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Datum |
Any point ,line,surface from which a distance ,vertical height or depth is measured. |
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debt service |
the amount of money necessary to meet the periodic payment of principal and interes |
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Appraisal
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An opinion or estimate value performed by a person licensed to do so.
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Appreciation |
increase in value |
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Appurtenance |
Any right or privilege that passes by with land |
