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Real Estate Glossary > I words > Flashcards

I words Flashcards

1
Q

ImpliedAgency

A

Agencythatexistsasaresultofactionsoftheparties.

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2
Q

ImpliedContract

A

Anagreementthathasnotbeenputintowords,butisimpliedbytheactionsofthe parties.

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3
Q

IncomeApproach

A

Oneofthethreemethodsoftheappraisalprocessgenerallyappliedtoincome producingproperty,andinvolvesathree‐stepprocess–(1)findnetannualincome,(2)setan appropriatecapitalizationrateor“presentworth”factor,and(3)capitalizetheincomedividingthenet incomebythecapitalizationrate.

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4
Q

IndependentContractor

A

Apersonwhoactsforanotherbutwhosellsfinalresultsandwhosemethods ofachievingthoseresultsarenotsubjecttothecontrolofanother.

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5
Q

Inflation

A

Anincreaseinmoneyandcreditrelativetoavailablegoodsthatresultsinhigherprices.

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6
Q

Injunction

A

Awritororderissuedunderthesealofacourttorestrainoneormorepartiestoasuitor proceedingfromdoinganactwhichisdeemedtobeinequitableorunjustinregardtotherightsof someotherpartyorpartiesinthesuitorproceeding.

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7
Q

InstallmentNote

A

Anotewhichprovidesforaseriesofperiodicpaymentsofprincipalandinterest, untilamountborrowerispaidinfull.Thisperiodicreductionofprincipalamortizestheloan.

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8
Q

Insurance

A

Acontractbetweentheinsurerandtheinsured.

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9
Q

IntegrativeNegotiation

A

Oftenreferredtoas‘win‐win’andtypicallyentailstwoormoreissuestobe negotiated.Itinvolvesanagreementprocessthatbetterintegratestheaimsandgoalsofallthe involvedpartiesthroughcreativeandcollaborativeproblemsolving.

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10
Q

IntercontinentalExchangeLondonInterbankOfferedRate(LIBOR)

A

Abenchmarkratethatsomeof theworld’sleadingbankschargeeachotherforshort‐termloans.

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11
Q

InterestRate

A

Thepercentageofasumofmoneychargedforitsuse.Rentorchargepaidforuseof money,expressedasapercentagepermonthoryearofthesumborrowed.

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12
Q

Interpleader

A

Anequitableproceedingbroughtbyathirdpartyactinginthecapacityofastakeholder whereintherearerivalclaimantstothesamemoneyand/orpropertyrequestingthecourttodetermine suchpropertiesdisposition

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13
Q

Intestate

A

Apersonwhodieshavingmadenowill,oronewhichisdefectiveinform,issaidtohavedied intestate,inwhichcasetheestatedescendstotheheirsatlawornextofkin.

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14
Q

IntestateSuccession

A

Distributionofpropertybydescentasprovidedbystatute.

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15
Q

InvoluntaryAlienation

A

Transferoftitletorealpropertyasaresultofalienforeclosuresale,adverse possession,thefilingofapetitioninbankruptcy,orcondemnationunderpowerofeminentdomainor uponthedeathofthetitleholder,totheStatewhentherearenoheirs.

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16
Q

InvoluntaryLien

A

Alienimposedagainstpropertywithoutconsentofanowner(ex:taxes,special assessments,federalincometaxliens,etc..).

Real Estate Glossary (23 decks)

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