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;
113 Cards in this Set
- Front
- Back
|
Alien Registration Reciept Card
|
Is Proof of legal alien status - "Green Card"
|
|
|
Associate Licensee
|
A real estate sales person
|
|
|
Broker-Officer
|
One who is designated the responsible broker office by a brokerage; who is also a licensed broker.
|
|
|
Bulk transfer of goods
|
A bulk transfer of goods is any transfer of a substantial part of the minerials, supplies, merchandise, eqipment, or other inventory that is not in the ordinary course of the transferor's business
|
|
|
Business and Professions Code
|
A series of books compiled by the California legislation called codes. Real Estate Law is Division 4 of the Business and Prfessions Code.
|
|
|
Business Opportunity
|
A transaction involving a business opportunity includes business assests that are personal property, such as inventory, trade fixtures, and the business goodwill.
|
|
|
Caveat emptor
|
latin phrase "let the buyer beware"
|
|
|
Certificate of Status
|
Follow UP!!
|
|
|
Codes
|
A series of books complied by the California legislation
|
|
|
Conditional license
|
The type of license a salesperson recieves once they pass the RE exam until they complete two courses.
|
|
|
Department of Real Estate
|
DRE headed by the RE Commissioner administers the Real Estate Law in CA.
|
|
|
Fictitious business name statement
|
A statement filed (fictitious name of brokerage to do business under) by a brokerage to the county clerk in the county of the brokerage.
|
|
|
Mobile Home buyer
|
Look UP!!!
|
|
|
Mortgage Loan Brokerage
|
A real estae brokerage can also act as a mortgage loan brokerage, a real estate agent can represent anyone regarding loans; soliciting borrowers or lender, negotiating loans, or servicing loans.
|
|
|
Personal Responsibility and Work Opportunity Act
|
The federal law requires that certain public benefits be withheld from illegal immigrants. Such are professional and occupational licenses issued by state agencies.
|
|
|
Prepaid Rental Listing Service (PRLS)
|
A business that supplies prospective tenants with listings of residentail real property on payment of a fee collected at the same time or in advance of when the listings are supplied
|
|
|
Real Estae Advisory Commission
|
Look UP!!!
|
|
|
Real Estate Broker
|
One who is held accountable for a salespersons business activites. One who handles a real estate transaction in CA for compensation and is licensed by the DRE.
|
|
|
Real Estae Brokerage
|
A business in which real estate license-related activities are performed under the supervisoin of a real estate broker.
|
|
|
Real Estae Commissioner
|
One who administers the Real Estate Law, heads the DRE.
|
|
|
Real Estate Eduction and Research Fund
|
Research in land use and real estate development is made possible at both public and private universities and research entities throughout the state. The fund is financed by a fixed percentage of license fees.
|
|
|
Real Estate Law
|
Is dividion 4 of the Business and Professions Code, a series of books compiled by CA legislation.
|
|
|
Real Estate salesperson
|
An employess of a broker in most instances, one handline real estae transactions in CA for compensation and licensed by DRE.
|
|
|
Recovery Account
|
A fund financed by license fees, avaiable to victims of license fraud, misrepresentation, deceit, or conversion of trust fraud, who are awared money damages by a court.
|
|
|
Regulations of the Real Estate Commissioner
|
Regulations that serve to clarify and interpret the RE law. RE licensees are sunkect the these regulations.
|
|
|
Restricted License
|
A license placed on restriction by the RE commissioner in a recourse of a violation of a RE law.
|
|
|
Sale Associate
|
Also referred to as real estae salesperson
|
|
|
Uniform Commercial Code
|
Governs the sale or transfer of goods ordinarily held for sale in the course of business.
|
|
|
Air Rights
|
The real property right to the reasonable use of the airspace above the surface of the lands.
|
|
|
Appurtenance
|
Is anything used with the land for the benefit of it owners; such as roadways and waterways.
|
|
|
Baselines
|
LU
|
|
|
Bill of Sale
|
Ownership of personal property usually transferred by a 'bill of sale'
|
|
|
Bundle of Rights
|
Often described as real property
The legal rights of ownership: Control, Exclusion, Possession, Disposition, Enjoyment, Use Will, Give Dedicate, Explore Culivate, Lease License, Mortgagte Encumber |
|
|
Civil Law
|
Detailed legal codes
Used by the spanish; was replaced by english common law |
|
|
Common Law
|
Detailed legal codes
Once used by the spanish as cival law and replace by the english as common law |
|
|
Community Property
|
Propery acquired by husband and wife during marriage.
|
|
|
Correction Line
|
Lu
|
|
|
Correlative use
|
Lu
|
|
|
emblements
|
Culitivated crops, Crops produces annually by labor and industry as distinguished from crops that grow naturally on the land.
|
|
|
fixture
|
A fixture is anything, including improvements, that is attached to land.
|
|
|
fructus industriales
|
The legal term for Crops produced by human labor
|
|
|
Fructus naturales
|
Legal Term for naturally occuring growth such as grasses
|
|
|
Guide Meridian
|
LU
|
|
|
Land
|
LU
|
|
|
Legal Description
|
LU
|
|
|
Littoral Rights
|
LU
|
|
|
Lot and Block System
|
LU
|
|
|
Markers
|
LU
|
|
|
Meridians
|
LU
|
|
|
Metes and Bounds
|
LU
|
|
|
Mineral Rights
|
LU
|
|
|
Monuments
|
LU
|
|
|
Personal Property
|
Is every kind of property that is not real property.
|
|
|
Plat Map
|
LU
|
|
|
Point of Beginning
|
LU
|
|
|
Ranges
|
LU
|
|
|
Real Estate
|
LU
|
|
|
Real Property
|
The California Civil Code defines real property as land, fixtures (attatchments to land), anything incidental or appurtenant to land, and anything immovable by law.
|
|
|
Rectangular Survey System
|
LU
|
|
|
Right of Appropriation
|
LU
|
|
|
Riparian Rights
|
LU
|
|
|
Section
|
LU
|
|
|
Section and Township System
|
LU
|
|
|
Subdivision Map
|
LU
|
|
|
Subdivision System
|
LU
|
|
|
Tiers
|
LU
|
|
|
Township
|
LU
|
|
|
Underground Water Rights
|
LU
|
|
|
U.S. Government Survey System
|
LU
|
|
|
Water Rights
|
Riparian Rights, Littoral Rights, Underground water rights.
|
|
|
Beneficiary
|
LU
|
|
|
Commingled
|
LU
|
|
|
Community Property
|
LU
|
|
|
Concurrent Propery
|
LU
|
|
|
Contingent Beneficiary
|
LU
|
|
|
Corporation
|
LU
|
|
|
Estate
|
LU
|
|
|
Estate of tenancy
|
LU
|
|
|
Fee simple absolute
|
LU
|
|
|
Fee simple defeasible
|
LU
|
|
|
Fee simple estate
|
LU
|
|
|
Fee simple qualified
|
LU
|
|
|
Freehold estate
|
LU
|
|
|
General partnership
|
LU
|
|
|
Joint Tenancy
|
LU
|
|
|
Landlords
|
LU
|
|
|
Leaseholds
|
LU
|
|
|
Life estate
|
LU
|
|
|
Limited Liability Company LLC
|
LU
|
|
|
Limited partnership
|
LU
|
|
|
Living Trust
|
LU
|
|
|
Measuring Life
|
LU
|
|
|
Measuring Life
|
LU
|
|
|
Ownership in severalty
|
LU
|
|
|
Partition Action
|
LU
|
|
|
Partners
|
LU
|
|
|
Partnership
|
LU
|
|
|
Quasi-community property
|
LU
|
|
|
Real Estate Investment Trust
|
LU
|
|
|
Real Estate Syndicate
|
LU
|
|
|
Remainder
|
LU
|
|
|
Reversion
|
LU
|
|
|
Right of survivorship
|
LU
|
|
|
S corporation
|
LU
|
|
|
Seperate Property
|
LU
|
|
|
Sole Proprietorship
|
LU
|
|
|
Tennancy in Common
|
LU
|
|
|
Tennacy in partnership
|
LU
|
|
|
tenants
|
LU
|
|
|
trust
|
LU
|
|
|
Trustee
|
LU
|
|
|
Trustor
|
LU
|
|
|
Unity of possession
|
LU
|
