Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/24

Click to flip

24 Cards in this Set

  • Front
  • Back
anything that makes a property marketable: buildings, roads, sewers, etc.
improvements
the monetary price a property would bring in a competative open market under all conditions requisite for a fair sale
market calue
proof or evidence of ownership of property
title
an area of land divided into parcels or lots which are generally of size suitable for residential use
subdivision
an area of land divided into parcels or lots which are generally of size suitable for residential use
subdivison
a claim against a property making it less than marketable or less acceptable to a buyer
encumbrance
the depositing of money, legal instruments, or valuables with a third party to be held until certain acts are performed or conditions met
escrow
a system of listing property for sale through one agent which allows other agents to sell the property also at a reduced rate of commission
multiple listing
complete ownership of property subject only to eminent domain
fee simple
a system of land description
metes and bounds
an imporovement on a parcel of land that intrudes upon or invades a contagious parcel of land
encroachment
the monetary price a property would bring in a competative open market under all conditions requisite for a fair sale
market value
a capital gain in the sale or exchange of an asset, the amount of which is received in cash and is therefore subject to taxation
realized gain
the percent of total market value placed upon property for purposes of taxation
assessed valuation
local regulations which prescribe the use of land and the structural design and use of buildings in a designated area
zoning
a purchaser acceptable to a seller or capeable of meeting terms
Ready, Willing, an Able Buyer
a plan or map of a tract of land which is part of the public record and shows actual and proposed property lines, easements, etc.
plat
that which had been added to or become part of the property and is included when the property is sold
appurtance
the right of government to take private property for public use after just compensation has been made to the owner
eminent domain
a legal instrument whereby the grantor transfers rights in a property to the grantee with no statement of guarantee against claims by others
quitclaim deed
a legal instrument that, when properly executed and delivered, transfers or conveys title or interest in realty ("real property")
deed
the authorization by local government to build, alter, or remodel property
building permit
a downpayment of money or other considerations given as evidence of good faith for binding a contract
earnest money
the right to make limited use of real property owned by another
easement