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Real Estate Glossary > M words > Flashcards

M words Flashcards

1
Q

ManagementAgreement

A

Acontractthatcreatesanagencyrelationshipinwhichtheowneristhe principalandthepropertymanageristheagentfortheowner.

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2
Q

MandatedDisclosure

A

Anitemofinformationwhichisrequiredbylawtobeconveyedfromoneentity involvedinarealestatetransactiontoanotherentityinthesametransaction.

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3
Q

MansardRoof

A

Aroofthathasfourslopingsides,eachofwhichbecomesteeperhalfwaydown.

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4
Q

MarketableTitle

A

Titlewhichareasonablepurchaser,informedastothefactsandtheirlegal importanceandactingwithreasonablecare,wouldbewillingandoughttoaccept.

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5
Q

MaterialFact

A

Anyfactthatwouldinfluencethedecisionofareasonablyprudentperson.

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6
Q

MaturityDate

A

Thedatebywhichaloanistobepaidinfull.

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7
Q

Mechanic’sLien

A

Aliencreatedbystatutewhichexistsagainstrealpropertyinfavorofpersonswho haveperformedworkorfurnishedmaterialsfortheimprovementoftherealproperty.

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8
Q

Mediation

A

Aformofalternativedisputeresolutioninwhichthepartiestoalawsuitmeetwitha neutralthird‐partyinanefforttosettlethecase.

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9
Q

Mediator

A

Apersonwhoattemptstomakepeopleinvolvedinaconflictcometoanagreement.

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10
Q

MetesandBounds

A

Atermusedindescribingtheboundarylinesofland,seeingforthalltheboundary linestogetherwiththeirterminalpointsandangles.

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11
Q

MineralRights

A

Alandowner’srighttoreceiveaportionoftheprofitsofanymineralsthatareextracted fromtheland.

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12
Q

MobileHome

A

Astructuretransportableinoneormoresections,designedandequippedtocontain notmorethantwodwellingunitstobeusedwithorwithoutafoundationsystem.

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13
Q

Mortgage

A

Aninstrumentrecognizedbylawbywhichpropertyishypothecatedtosecurethepayment ofadebtorobligation;aprocedureforforeclosureineventofdefaultisestablishedbystatute.

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14
Q

MortgageBanker

A

Apersonwhoseprinciplebusinessistheoriginating,financing,closing,sellingand servicingofloanssecuredbyrealpropertyforinstitutionallendersonacontractualbasis.

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15
Q

MortgageBroker

A

Abrokerwhoarrangesamortgageloanbetweenalenderandaborrowerforafee.

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16
Q

Mortgagee

A

Onetowhomamortgagorgivesamortgagetosecurealoanorperformanceofan obligation;alenderorcreditor.

17
Q

Mortgagor

A

Onewhogivesamortgageonhisorherpropertytosecurealoanorassureperformance ofanobligation;aborrower.

18
Q

MortgageInsurancePremium(MIP)

A

Aone‐timepremiumpaidattheclosingpursuanttothe purchase.

19
Q

MultipleListingService(MLS)

A

Anassociationofrealestateagentsprovidingforapoolingoflistings andthesharingofcommissionsonaspecifiedbasis.

20
Q

MutualMortgageInsurance(MMI)

A

Apercentageoftheamountowed.

Real Estate Glossary (23 decks)

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