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;
18 Cards in this Set
- Front
- Back
Abandonment
|
Voluntary surrender of a claim or right, such as when a Declaration of Abandonment terminates a homestead.
|
|
Abstract
|
A brief summary.
|
|
Abstract of Judgement
|
A condensation of the essential provisions of a court judgment.
|
|
Abstract of Title
|
A summary or digest of the conveyances, transfers, and any other facts relied on as evidence of title, together with any other elements of record which may impair the title.
|
|
Accelaration Clause
|
Clause in trust deed or mortgage giving the lender the right to call all sums owing to be due and payable upon the happening of a certain event, such as the sale of the property or failure to pay property taxes.
|
|
Accession
|
Acquiring title by having property added to your property.
|
|
Accretion
|
An addition to land from natural causes as, for example, from gradual action of the ocean or river waters.
|
|
Accrued
|
Accumulated up to this point in time. Accrued interest, or accrued depreciation.
|
|
Accrued Depreciation
|
The difference between the cost of replacement new as of the date of the appraisal and the present appraised value.
|
|
Acknowledgment
|
A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.
|
|
Acre
|
43,560 square feet of land.
|
|
Actual Notice
|
Knowledge of the existence of a thing or fact.
|
|
Ad Valorem
|
According to valuation.
|
|
Agency
|
The relationship between principal and agent which arises out of a contract, either expressed or implied, written or oral, wherein the agent is employed by the principal to do certain acts dealing with a third party.
|
|
Agent
|
One who represents another from whom he has derived authority.
|
|
Alienation
|
The transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.
|
|
Alienation Clause
|
Clause in a loan document providing for full payment if property is sold.
|
|
ALTA Title Policy
|
(American Land Title Association) A type of title insurance policy issued by title insurance companies which expands the risks normally insured against under the standard type policy. It is a lender's policy.
|