Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
MANAGEMENT AGREEMENT
|
AGREEMENT BETWEEN THE OWNER OF AN INCOME-PRODUCING PROPERTY AND FIRM OR INDIVIDUAL WHO WILL MANAGE THE PROPERTY
|
|
|
MARKETABLE TITLE
|
TITLE THAT IS REASONABLE FREE AND CLEAR OF ENCUMBRANCES AND CLOUDS SO AS TO BE ACCEPTABLE TO TYPICAL BUYER
|
|
|
MARKET DATA APPROACH
|
METHOD OF APPRAISAL BY WHICH THE PROPERTY UNDER APPRAISEMENT IS COMPARED TO OTHER SIMULAR PROPERTIES THAT HAVE BEEN SOLD
|
|
|
MARKET VALUE
|
THE HIGHEST PRICE AT WHICH A PROPERTY SHOULD BE SOLD GIVEN A REASONABLE EXPOSURE PERIOD IN THE MARKET ARRIVED AT BY A WILLING SELLER AND BUYER NEITHER BEING UNDER DURESS
|
|
|
MASTER PLAN
|
A PLAN TO GUIDE THE LONGTERM DEVELOPMENT OF AN AREA
|
|
|
MECHANICS LIEN
|
LEIN CREATED FOR PEOPLE WHO HAVE SUPPLIED LABOR AND MATERIALS
|
|
|
MEETING OF THE MINDS
|
ALSO CALLED OFFER AND ECCEPTANCE-TWO VITAL ELEMENTS OF A VALID CONTRACT
|
|
|
MERIDAN
|
USED IN RECTANGULAR(GOVERMENT)SURVEY METHOD OF DESCRIBING PROPERTY-A SET OF IMAGINARY LINES THAT RUN NORTH AND SOUTH
|
|
|
METES AND BOUNDS
|
METHOD OF DESCRIBING LAND BY SPECIFYING THE SHAPE AND BOUNDRY MEASURMENTS USING TERMINAL POINTS AND ANGLES
|
|
|
MILL
|
ON TENTH OF ONE CENT-USED IN THE COMPUTATION OF PROPERTY TAXES
|
|
|
MINOR
|
ONE WHO HAS NOT REACHED LEGAL MAJORITY
|
|
|
MONUMENT
|
A VISIBLE MARKER USED AS A REFERENCE POINT TO ESTABLISH THE LINES AND BOUNDRIES OF A SURVEY
|
|
|
MORTGAGE
|
LEGAL DOCUMNET IN WHICH PROPERTY IS CONDITIONALLY TRANSFERED FROM A MORTGAGOR TO A MORTGAEE AS SECURITY FOR PAYMENT OF A DEBT
|
|
|
MORTGAGEE
|
THE LENDER
|
|
|
MORTGAGOR
|
THE BORROWER
|
|
|
MULTIPLE LISTING
|
A LISTING AGREEMENT THAT IS DISTRIBUTED BY A BROKER TO ALL OTHER BROKERS
|
