Study sets matching "real estate"
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What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
Alluvion
Avulsion
Appurtenance
balloon payment
Increase of soil along the bank of a body of water by natural…
The tearing or washing away of land along the bank of a body o…
anything affixed to or used with land for its benefit that is…
an installment payment on a promissory note much bigger than t…
Alluvion
Increase of soil along the bank of a body of water by natural…
Avulsion
The tearing or washing away of land along the bank of a body o…
Accession
Annexation
Real Property
Real Property - Bundle of Rights
Acquiring title to additions or improvements to real property…
The process of converting personal property into real property
includes both land and real estate includes the bundle of righ…
Right of Possession... Right to control the property (within law)…
Accession
Acquiring title to additions or improvements to real property…
Annexation
The process of converting personal property into real property
Shortfall of Funds
Irrevocable Assignment of Mortgage Proc…
Transfer Back Consideration Amount
Amortization Period
The difference between the cash balance payable by the purchas…
The mortgage that is being taken out to purchase the house sol…
$1.00 and other good and valuable consideration
Whole Life of the Loan
Shortfall of Funds
The difference between the cash balance payable by the purchas…
Irrevocable Assignment of Mortgage Proc…
The mortgage that is being taken out to purchase the house sol…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
PETE stand for?
Escheat?
How is LTV calculated?
Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will /no heirs )taken by the state…
Loan amount /sale price or appraised value (whichever is lower…
It is the government taking private property for public good.
PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
Escheat?
Abandonment (dying with no will /no heirs )taken by the state…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
Acre
Test for fixtures
Bill of sale
US Government Survey uses
4840 square yards; 43560 square feet
1. Relationship to parties... 2. Method of attachment... 3. Intent o…
Transfers title to personal property
Sections and Townships
Acre
4840 square yards; 43560 square feet
Test for fixtures
1. Relationship to parties... 2. Method of attachment... 3. Intent o…
Under the law of agency, a real estate…
When does a client enter into a fiducia…
The word improvement refers to:... street…
Which of the following is true with reg…
advertising
when they enter into a listing agreement.
all of the above... ... Explanation... Streets, sidewalks, sewers, and…
they are real property rights that may be sold separately from…
Under the law of agency, a real estate…
advertising
When does a client enter into a fiducia…
when they enter into a listing agreement.
Bundle of Rights
Real Property
Personal Property
Chattel
1.Possession, 2.Use, 3.Encumber, 4.Exclusion, 5.Transfer
physical property such as land and buildings
movable items such as cars, clothing, books, and so on.
Chattel is like cattle and cattle moves, personal property
Bundle of Rights
1.Possession, 2.Use, 3.Encumber, 4.Exclusion, 5.Transfer
Real Property
physical property such as land and buildings
Physical characteristics of land
Agency
Principlal (client)
Puffing
immobility, permanence & uniqueness
means acting on behalf of another in expectation of compensati…
the individual who hires & gives authority to the agent of rep…
when an agent makes non-factual statements about the property…
Physical characteristics of land
immobility, permanence & uniqueness
Agency
means acting on behalf of another in expectation of compensati…
How do you change a fraction to a decim…
How do you change a decimal to a percen…
How do you change a percentage to a dec…
How do you find the area of a square or…
Divide the top number (numerator) by the bottom number (denomi…
Move the decimal two places to the right and add a % symbol
Move the decimal two places to the left and remove the % symbo…
length times width
How do you change a fraction to a decim…
Divide the top number (numerator) by the bottom number (denomi…
How do you change a decimal to a percen…
Move the decimal two places to the right and add a % symbol
Acceleration clause
Adjustable-rate mortgage (ARM)
Alienation clause
Assumption of mortgage
The clause in a mortgage or deed of trust that can be enforced…
A loan characterized by a fluctuating interest rate, usually o…
The clause in a mortgage or deed of trust stating that the bal…
Acquiring title to property on which there is an existing mort…
Acceleration clause
The clause in a mortgage or deed of trust that can be enforced…
Adjustable-rate mortgage (ARM)
A loan characterized by a fluctuating interest rate, usually o…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
Addendum
Amendment
Assignment
Bilateral Contract
A document that was not part of the original contract that may…
A change to the original contract.
The transfer in writing of interest in a bond, mortgage, lease…
A legally enforceable promise or set of promises that must be…
Addendum
A document that was not part of the original contract that may…
Amendment
A change to the original contract.
Adjusted basis
Ad valorem tax
Appropriation
Basis
If a property was acquired by purchase, the owner's basis is t…
A tax levied according to value, generally used to refer to re…
An action taken by a taxing body that authorized the expenditu…
The financial interest that the IRS attribute to an owner of a…
Adjusted basis
If a property was acquired by purchase, the owner's basis is t…
Ad valorem tax
A tax levied according to value, generally used to refer to re…
Classes of Real Estate
Agricultural Real Estate
Appraisal
Brokerage
Residential , Commercial, Industrial, Agricultural and Special…
Includes farm, orchards, timberland, ranches and hatcheries.
The process of estimating the market value of real estate.
Bringing together parties in a real estate transactions
Classes of Real Estate
Residential , Commercial, Industrial, Agricultural and Special…
Agricultural Real Estate
Includes farm, orchards, timberland, ranches and hatcheries.
Estate from Period to Period
Estate for years
Estate at sufferance
Estate at will
A leasehold estate that is automatically renewed for the same…
A leasehold estate with a definite end date; must be renegotia…
A tenancy created when one is in wrongful possession of real e…
Possession of real estate belonging to another, with their per…
Estate from Period to Period
A leasehold estate that is automatically renewed for the same…
Estate for years
A leasehold estate with a definite end date; must be renegotia…
accretion
air rights
alluvion
avulsion
the gradual accumulation of sand or soil washed up by bodies o…
the right to use the open above a property
soil left behind by water through natural causes
the sudden or violent change in a streams course through natur…
accretion
the gradual accumulation of sand or soil washed up by bodies o…
air rights
the right to use the open above a property
1031 exchange
1099-S Reporting
abendum clause
acknowledgment
"under Internal Revenue Code section 1031, a tax-deferred exch…
"a report to be submitted on IRS Form 1099-S by escrow agents…
"a clause in a deed, usually following the granting clause and…
"a written declaration signed by a person before a duly author…
1031 exchange
"under Internal Revenue Code section 1031, a tax-deferred exch…
1099-S Reporting
"a report to be submitted on IRS Form 1099-S by escrow agents…