Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Real Estate > Q - T > Flashcards

Q - T Flashcards

1
Q

qualified fee simple

A

a defeasible fee (title), recognizable by the words as long as

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

quiet title action

A

a lawsuit to remove a cloud on a title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

quitclaim deed

A

a deed of release that contains no warranty of title; used to remove a cloud on a title

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

radon

A

gas that can kill you; most found in soil.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

rate lock

A

A purchaser obtains a promise from a lender for a specific interest rate available for a specific time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

rate of return

A

percentage of income that the investor gets back on an investment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

ratification

A

affirming an implied agency by approving a broker’s action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Real Estate Settlement Procedures Act (RESPA)

A

federal law regulating activities of lending institutions in making mortgage loans for housing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

real property tax lean

A

taxes levied against real property by the local government that have priority over all other liens

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

reality of consent

A

mutual agreement between the parties to contract; meeting of the minds; to exist and be free of duress,fraud,undue influence, and misrepresentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

realized gain

A

actual profit resulting from a sale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

realty

A

Land and everything permanently attached to land

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

recognized gain

A

the amount of profit taxable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

reconciliation

A

a) the process of checking accounting of the settlement statement
b) the adjustment process in appraising, in which comparables are adjusted to the subject property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

recordation

A

written registration of an owner’s title in public records to protect against subsequent claimants

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

redlining

A

the refusal of lending institutions to make loans for the purchase, construction, or repair of a dwelling because the area in which the dwelling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

referee’s deed

A

Used to convey real property when court-appointed individual acts as directed by the court in a bankruptcy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

reference to a plat

A

A description on a deed that may refer to a plat map and lot number as part of a recorded subdivision

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Regulation Z

A

Requirements issued by the Federal Reserve Board in implementing the Truth-in-Lending Law, which is part of the Federal Consumer Credit Protection

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

release clause

A

A provision in a mortgage to release certain properties from the mortgage lien when the principle is reduced by a specific amount

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

remainder interest

A

future interest in a life estate

22
Q

remise

A

to release or give up

23
Q

repossession

A

regaining possession of property as a result of another person’s breach of contract

24
Q

rescission

A

Cancellation of a contract when another party is in default

25
Q

restrictive covenant

A

a restriction placed on a private owner’s use of land by a nongovernmental entity of individual.

26
Q

reversion

A

return of title to the holder of a future interest, such as the grantor in a life estate not in remainder

27
Q

reversionary interest

A

a provision stating the owner’s interest - that possession of property will go back to the owner at the end of the lease

28
Q

right of assignment

A

allows a lender to sell a mortgage at any time and obtain the money invested rather than wait for completion of the loan term

29
Q

right of survivorship

A

the right of an owner to receive the title to a co-owner’s share upon death of the co-owner, as in the case of joint tenancy and tenancy by entirety

30
Q

riparian rights

A

the rights of an owner of property adjoining a watercourse such as a river, including access to and use of water.

31
Q

running with the land

A

Rights moving from grantor to grantee along with a title

32
Q

sales comparison approach

A

an appraisal approach for estimating the value of single-family dwellings and vacant land; it compares the subjects property with other similar properties that have sold recently

33
Q

scarcity

A

a) an economic characteristic of real property

b) In appraisal, supply of property in relation to effective demand

34
Q

second mortgage market

A

the market in which lenders sell mortgages

35
Q

seepage pit

A

a covered pit through which discharge from the septic tank infiltrates into the surrounding soil

36
Q

seisin (seizin)

A

possession of a freehold estate in land

37
Q

self-dealing

A

illegal activity that can occur when a broker has an undisclosed interest in a property

38
Q

service drop

A

Aboveground electrical cables that come from the nearest pole connecting to the service entrance conductors of a house

39
Q

service lateral

A

Underground electrical wiring connecting to a house

40
Q

setback

A

the distance from a front of interior property line to the point where a structure can be located

41
Q

severalty

A

ownership by only one person

42
Q

share loan

A

a type of loan where stock is the collateral; it is used for Co-op purchases

43
Q

Sherman Antitrust Act

A

Federal legislation including imposition of civil and punitive damages for anti trust activities.

44
Q

sick building syndrom

A

a chemical illness that may be caused by the air quality in a building

45
Q

situs

A

location of land

46
Q

slab-on-grade construction

A

a type of concrete flooring that is part of the foundation and is poured on a prepared and graded surface

47
Q

sole plate

A

A horizontal baseplate that serves as the foundation for a wall system

48
Q

special agent

A

an agent with limited authority to act on behalf of the principle, such as created by a listing

49
Q

special assessment

A

a levy by a local gov. against real property for part of the cost of making an improvement to the property, i.e. paving streets, installing waterlines, putting in sidewalks etc.

50
Q

special purpose real estate

A

a category of real property created as a result of combining the land and its improvements for a single highest and best use

Real Estate (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions