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24 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Remainder man |
The party designated to receive an estate at the end of a life estate |
You are the remainder left |
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Tenancy in common |
When 2 or more persons wish to share ownership of property |
Me and my girlfriends get a house together and split it |
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Subordination |
Lender agrees to step down in priority of lien |
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Prima Facie evidence |
Requiring no further proof |
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Variance |
An exception to zoning ordinance granted to relieve hardships |
" Vary nice " |
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Growing equity mortgage |
Increase equity by increasing monthly payments |
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Specific performance |
Remedy for injured party |
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Tenancy at sufferance |
When tenant stay in possession of the property beyond the ending date of legal tenancy |
"Tenant" |
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Group license |
Grant to work various properties under one owner developer |
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Regression |
Value of superior property is affected by its association w inferior property of the same type |
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No brokerage relationship has |
Limited representation |
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Free simple ownership / interval ownership |
Right to sell, will or give away property |
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Proprietary lease |
The right to occupy the unit for the life of the cooperation |
I have "priority" I have this for my dads condo |
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Freddie Mac |
Ran by government |
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Fanni Mae |
Buys and sells mortgages |
If I'm wearing a fanni pack then I probably took out what on my house |
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Ginne mae |
Low cost mortgage credit to underserved sectors |
People who say "gimme" are most likely what |
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Conversion |
Unauthorized use of someone's property |
If I sleep at the neighbors house without asking , will start a commotion |
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Seisin clause |
In deed, says that the seller ( fee simple estate holder ) holds the right to the property |
3 things |
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Granting clause |
In a deed Names of people involved, words of conveyance, description of property |
I'm going to pull the trigger on you if you don't make payments |
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Triggering ( truth lending act ) |
% down Payment Number of payments Etc |
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Due on sale clause |
Payment due in full at time of sale |
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Due on sale clause |
Payment due in full at time of sale |
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Equity of redemption |
Paying off mortgages , principle and interest to prevent foreclosure |
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Florida statue 475 protects against |
Commission |
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