PrepAgent DRE Salesperson Vocab Flashcards
(194 cards)
1
Q
Bundle of Rights
A
权利捆绑–Right & interest of having title such as possession, control, exclusion, sell, and of enjoyment
2
Q
Real Property
A
房地产— goes with the property
- Generally immovable
3
Q
Personal Property
A
私人财产— goes with the person
- Generally movable
4
Q
Chattel Real
A
动产–cows moove - personal property
5
Q
Fixture
A
夹具— was personal and is now real
- MARIA Method, Adaptability, Relationship, Intention, Agreement
6
Q
Trade Fixture
A
贸易夹具— personal because it goes with a business
7
Q
Riparian Rights
A
河岸权利–river - moving body of water
8
Q
Littoral Rights
A
沿海权利–Lake - body of water standing still
9
Q
Accretion
A
吸积–additional of land
10
Q
Avulsion
A
撕脱–tearing away of land
11
Q
Reliction
A
遗物–gradual recession of water leaving land permanently uncovered.
12
Q
Appurtenances
A
附件–Runs with the land
13
Q
Freehold Estate
A
永久业权–no fixed duration of ownership.
14
Q
Fee Simple Estate
A
费用简单的庄园— highest possible ownership..
- also know as fee simple absolute
15
Q
Fee Simple Defeasible
A
费用简单可废止–Possesses the property as a fee simple subject to a condition
16
Q
Life Estate
A
生命庄园–ownership of land for the duration of a person’s life
17
Q
Less than Freehold Estate
A
少于永久业权地产–limited period of time
18
Q
Estate for Years
A
多年的遗产— defined period of time
- for example 6 months or july 3rd - september 8th
19
Q
Periodic Tenancy
A
定期租赁— period to period such as month to month
20
Q
Estate at Will
A
随意遗产–end at any time
21
Q
Estate at Sufferance
A
受难庄园–landlord is suffering as tenant is in possession passed agreed upon time.
22
Q
Lease
A
租— possession but not ownership from lessor to lessee
- considered personal property
23
Q
Percentage Lease
A
百分比租赁–based on a percentage of gross receipts
24
Q
Net Lease
A
净租赁–tenant pays taxes, insurance and maintenance
25
Gross Lease
总租赁--tenant pays fixed amount
26
Sandwich Lease
三明治租赁--primary party is lessee and a lessor
27
Tenant Improvement Allowance
租户改善津贴--allowance to customize generally for business purposes.
28
Abandonment
放弃--Voluntarily giving up the rights and responsibilities of possession of a property.
29
Subleases
转租--Grants possession but not responsibility
30
Assignment
任务--Grants possession and responsibility
31
Surrender
投降--agreement to return the property to the owner (landlord) before the lease ends.
32
Constructive Eviction
建设性驱逐--landlord fails to do something that he/she has a legal duty to provide.
33
Deeds
行为--evidence of transfer
34
A Grant Deed
赠款契约--transfer of real property from one person or entity to another person or entity. Each party transferring an interest in the property, or "grantor", is required to sign it.
35
A Quitclaim Deed
退出契约--Deed releasing a person's interest with no warranties. Typically in non-sale situations
36
Warranty deed
保证书--deed that guarantees a clear title to the buyer of real property.
37
Special Warranty Deed
特别保证契约--Seller only warrants or guarantees the title against defects that may have arisen during the period of ownership of the property.
38
General Warranty Deed
一般保修契约--Seller warrants or guarantees the title against defects that may have arisen during the entire life of the property.
39
Title
标题--ownership
40
Chain of Title
标题链--history of ownership which shows conveyances and encumbrances.
41
Abstract of Title
标题摘要--summary
42
Cloud on Title
标题云--Defect in title ie.. single women married
43
A Quiet Title Action
安静的标题操作--lawsuit in order to establish a party's title
44
Alienation of Title
产权异化--capacity of property or a property right to be sold or transferred
45
Title Insurance
产权保险--Ensure clear and marketable title
46
Standard Policy of Title Insurance
产权保险标准政策--Standard coverage includes:
- Defects that are found in public records
- Forged documents
- Incompetent grantors
- Incorrect marital statements
- Improper delivery of deeds
47
ALTA Policy of Title Insurance
产权保险的 ALTA 政策--Protects real property owners and mortgage lenders against losses from defects in titles.
48
Extended Policy of Title Insurance
产权保险的扩展政策--Includes everything in a standard policy plus defects found in a property inspection. Which would include unrecorded rights of parties in possession, examination of survey. unrecorded liens, not known by a policy holder.
49
Severalty
几个--sole ownership
50
Concurrent Estate
并发庄园--ownership with others
51
Joint Tenancy
联合租赁--TTIP right of survivorship
52
Tenancy in Common
共同租赁--unity of possession
53
Encumbrances
负担--Limitation
54
Easement
缓和--Right to cross
55
dominant tenement
主要物业--Gaining the benefit of the easement
56
servient tenement
服务公寓--Suffers the burden of an easement.
57
Easement by Prescription
处方地役权--granted after used the property in a hostile, continuous and open manner for a statutorily prescribed number of years
58
Appurtenant Easement
附属地役权--right to use adjoining property that transfers with the land
59
Easement in Gross
总地役权--no dominent tenament
60
Government Powers
政府权力--PETE - Police Power, Escheat, Taxation, Eminent Domain
61
Police Power
警察权力--States ability to regulate for the betterment of the health, safety, morals, and general welfare of community.
62
Zoning
分区--Police power that divides and into areas for designated uses
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Variance
方差--Exception to the roll
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Down Zoning
向下分区--Commercial to residential
65
Grandfather Clause
祖父条款--exempt from new rule,
66
Nonconforming Use
不合格使用--A type of zoning variance where a parcel of land may be given an exception from current zoning ordinances due to improvements made by a prior owner or before the current zoning ordinances made the desired use non-conforming under local law.
67
Building Codes
建筑规范--protect public health, safety and general welfare
68
Escheat
归还--Reversion of property to the state when the owner dies without heirs.
69
Intestate
无遗嘱--no will
70
Testate
遗嘱--has a will
71
Probate
遗嘱认证--executor for the estate of a deceased person sells property in order to divide the property among the beneficiaries.
72
Holographic Will
全息意志--written by hand
73
Taxation
税收--financial charge by a state to fund various public expenditures
74
Marginal tax rate
边际税率--percentage taken from your next dollar of taxable income
75
1031 Tax Deferred Exchange
1031 递延税款交换--- Defer taxes
| - identify 45 days, acquire within180 days of closing previous property.
76
Boot
开机--Fair market value of other Property received in an exchange
77
Ad Valorem
从价--Latin for according to value
78
Eminent Domain
知名领域--Government ability to take private property for public use
79
Condemnation
谴责--Process of compensating a person when property is taken by eminent domain.
80
Inverse Condemnation
反定罪--Sueing the government for just compensation when property is taken
81
Encroachment
侵犯--When a structure is built in part on a neighbor's property.
82
Liens
留置权--money owned
83
General Liens
一般留置权--lien against all personal property
84
Specific Liens
特定留置权--lien that is on a single property
85
Voluntary Lien
自愿留置权--lien that exists because of an action taken by a debtor
86
Involuntary Lien
非自愿留置权--Liens that were imposed on a individual. i.e. .. taxes and judgment liens
87
Mechanics Lien
力学留置权--Lien on behalf of those who have supplied labor or materials that improve the property.
88
Judgement Lien
判决留置权--Lien placed by the court
89
Lis Pendis
利斯潘迪斯--lawsuit pending involving either the title to the property or a claimed ownership interest in it.
90
Injunctions
禁令--Court order that compels a party to do or refrain from specific acts.
91
Constructive Notice
建设性通知--Signifies that a person should have known as a reasonable person would have.
92
Actual Notice
实际通知--Personally given to somebody
93
Escrow
第三方托管--neutral third party
94
Debit
借方--money owed
95
Credit
信用--money received
96
Short Rate
短期利率--A higher periodic rate for a shorter term than what was originally contracted
97
Impounds
扣押--Money set aside by a lender to pay for reoccurring costs that take priority over the loan such as taxes and insurance.
98
RESPA
RESPA--Eliminating kickbacks and referral fees which add unnecessary costs to settlement services.
99
TILA
蒂拉--- Inform use of consumer credit
- Require disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.
100
Fair Housing Act
公平住房法--1968 act banning refusal to sell or rent a dwelling to any person because of race, color, religion, sex, or national origin.
101
Jones vs. Mayer
琼斯对阵梅耶--1968 court case that bared all racial discrimination, private as well as public, in the sale or rental of property based on the thirteenth amendment.
102
Sherman Anti-Trust Act
谢尔曼反托拉斯法--bans anti competitive behavior such as price fixing
103
Americans with Disabilities Act
美国残疾人法案--1990 act prohibiting discrimination against people with disabilities in employment, transportation, public accommodation, communications, and governmental activities.
104
Material Fact
重要事实--a fact that, if known, might have caused a buyer or seller of real estate to make a different decision
105
Steering
操舵--buyers - You should live by “those” people
106
Blockbusting
一鸣惊人--sellers - You better sell because you do not want to live by “those” people
107
Panic Selling
恐慌性抛售--sellers - You better sell because you do not want to live by “those” people
108
Panic Peddling
恐慌兜售--sellers - You better sell because you do not want to live by “those” people
109
Redlining
红线--denying services such as a loan, either directly or through selectively raising prices, to residents of certain areas based on race or ethnicity.
110
Misrepresentation
失实陈述--the action or offense of giving a false or misleading account of the nature of something.
111
Actual Fraud
实际欺诈--fraud committed with the actual intent to deceive and thereby injure another
112
Constructive Fraud
建设性欺诈--- person gained an unfair advantage over another by unfair methods.
- Intent does not need to be shown
113
Commingling
混合--mixing of funds
114
Puffing
膨化--gross exaggeration of facts
115
Caveat Emptor
买者自负--latin for buyer beware
116
Essentials of a Valid Contract
有效合同的要素--Mutual consent, lawful object, consideration, capable parties
117
Void Contract
作废契约--Lacks one of the 4 essential elements
118
Voidable Contract
可撤销合同--Option to rescind
119
Bilateral Contract
双边合同--promise for a promise example would be a exclusive listing
120
Unilateral Contract
单边合同--promise for a act example would be a open listing or a option contract
121
Executed Contract
已执行合同--a contract that has been fully performed
122
Executory Contract
执行合同--a contract that has not yet been fully performed
123
The Statute of Frauds
欺诈法--states what contracts must be in writing
124
Statute of Limitations
诉讼时效--States time frames for certain contracts
125
Novation
更新--latin for new as it relates to contracts
126
Codicil
科迪西尔--amendment
127
Agency
机构--ACOLD Accountability Care Obedience Loyalty Disclosure
128
Fiduciary
受托人--A position of trust, good faith and honesty
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Actual Authority
实际权限--Expressly conferred by a principal to an agent to act on the principal's behalf.
130
Ostensible Authority
表面权威--Authority granted by acceptance of action on the princeiples behalf.
131
Dual Agent
双重代理--buyer & seller have the same BROKER
132
General Agent
总代理--- authorized to perform any and all acts associated with the job.
- A real estate licensee acting in the capacity of a property manager.
133
Special Agent
特务--- Limited authority granted to him or her through a principal.
- Relationship with the principal is not expected to be continuous.
- Listing contract creates a special agency.
134
Estoppel
禁止反言--prevents asserting something contrary to what is implied by a previous action or statement.
135
Listing
清单--bileteral employment contract
136
Exclusive Listing
独家上市--- one broker can be paid
| - no need to show procuring cause in order to be compensated.
137
Exclusive Agency Listing
独家代理列表--- Owner sells agent gets nothing
| - You need to show your are the procuring cause in order to be compensated
138
Exclusive Authorization and Right to Sell Listing
独家授权和上市权--Broker gets paid if property sold regardless of procurance cause
139
Open listing
公开上市--- Seller can hire multiple brokers
| - Broker that proves procuring cause would be compensated
140
Net Listing
净上市--Money received above and beyond a designated amount
141
Protection Period Clause (Safety Clause)
保护期条款（Safety Clause）--Compensated after listing expires if you can prove your are the procuring cause
142
Contingency Clause
应急条款--defines a condition or action that must be met in order for a real estate contract to become binding
143
Hold Harmless Clause
持有无害条款--- also known as a liability waiver
- agreement whereby parties agree not to hold the other party responsible for any loss, damage, or legal liability that may arise under the agreement.
144
Interim Occupancy Agreement
临时入住协议--Staying after sale
145
Deposit
订金--Placing something of value to show that you are serous about your offer.
146
Value
价值--What a willing buyer will pay on the open market
147
Essential Elements of Value
价值的基本要素--STUD - Scarcity Transferability, Utility, Demand
148
Principle of Substitution
替代原则--no prudent person would pay very a property when another one readily available that has the same use, design and income for less.
149
Principle of Contribution
贡献原则--How much does an item contribute to the net income of a property?
150
Principle of Regression
回归原理--The value of a more expensive home placed in a neighborhood of less expensive homes will drop in value.
151
Principle of Progression
渐进原则--Progression states that the value of less expensive properties will increase when placed in the area of more expensive properties.
152
Principle of Highest and Best use
最高和最佳使用原则--- How much of a net return you can get by building on the property?
- If the use is temporary, it would then be considered the Interim use
153
Plottage
地块--1+1 =3
154
Appraisal
评价--Estimate of value
155
Narrative Appraisal
叙事评价--A comprehensive appraisal report is a “complete” appraisal.
156
Market Data (Comparison) Approach
市场数据（比较）法--- Examination and comparison of actual sales of comparable properties.
- Best used to find values of houses and vacant lots.
157
Cost (Replacement) Approach
成本（更换）方法--- Finding out how much would it cost to replace the building brand new
- Better for new buildings not old.
158
Capitalization (Income) Approach
资本化（收入）法--- Converts Income into value.
- A property that can prove to bring in more income will increase the value.
- Most appropriate for a shopping center.
159
Gross Multipliers
总乘数--price divided by rent
160
Cap rate
上限率--Higher Cap rate represents higher risk
161
Acre
英亩--43560
162
Depreciation
折旧--loss in value to any cause
163
Physical Deterioration
物理退化--wear and tear
164
Functional Obsolescence
功能陈旧--poor planning
165
Economic Obsolescence
经济过时--outside causes
166
mortgage
抵押--a voluntary, specific lien
167
Mortgage brokers
按揭经纪人--- Intermediary between consumers and lenders.
| - Mortgage broker originates loans while the mortgage lender funds loans.
168
mortgage banker
按揭银行家--A direct mortgage lender.
169
Interest
兴趣--rent on money
170
Leverage
杠杆作用--borrowed capital to increase the potential return of an investment
171
Amortization
摊销--the paying off of debt
172
Negative Amortization
负摊销--interest paid but debt increases
173
Balloon Loan
气球贷款--loan that does not fully amortize over its term
174
Appreciation
欣赏--increase in value over time
175
Construction Loan
建设贷款--short-term loan used to finance the building of a property.
176
Obligatory Advances
强制性预付款--Money given during a construction loan at agreed upon stages.
177
participation loan
参与贷款--A loan that requires interest plus a portion of the profits as payment.
178
Interim Loan
临时贷款--short term financing
179
Take-Out Loan
外卖贷款--- Long-term loans replace interim financing, such as a short-term construction loan.
- Usually mortgages with fixed payments that are amortizing.
180
Subject To
服从于--seller liable, buyer not liable
181
Assume
认为--relieves seller, buyer is liable
182
Hypothecate
抵押--Pledging an asset as collateral for a loan while retaining ownership
183
Subordination Clause
从属条款--Current debts will take priority over debts made in the future.
184
Prepayment Clause
预付款条款--provision that permits a borrower to satisfy a debt before it is due date.
185
Prepayment Penalty
预付罚款--regulates what the borrower is allowed to pay off and when.
186
Due-on-sale clause
到期销售条款--Balance of the loan may be called to repay in full upon sale
187
Primary Mortgage Market
初级抵押贷款市场--Where Lenders make mortgage loans directly to borrowers
188
Secondary Mortgage Market
二级抵押贷款市场--resale marketplace
189
Insurance companies (as a lender)
保险公司（作为贷方）--- Prefer income producing properties and long term large industrial projects. - - Frequently demand to be able to do a participation loan
190
savings and loan association
储蓄贷款协会--A state or federally-chartered financial intermediary that accepts deposits from the public and invests those funds primarily in residential mortgage loans
191
FHA
联邦住房管理局--- Small downpayment required
- insures the lender, does not make loans.
- unconventional loan because they are backed by the government.
- no pre-payment penalty
- Single family homes, one to four units owner occupied
192
VA Loan
退伍军人贷款--- Does not require a down payment, however the lender can require one.
- owner occupied house, condominium, or townhouse
193
GNMA
GNMA--A governmental part of the secondary market that deals primarily in recycling VA and FHA mortgages.
194
FNMA
国家金融管理局--federally sponsored private corporation which provides a secondary market for housing mortgages.
