Flashcards in RE - Set 13 Deck (26)
LOVE AND AFFECTION
The consideration used in a gift deed.
A statement of the unpaid balance of a loan and the condition of the debt.
Transfers any interest the grantor may have at the time the deed is signed, with no warranties of clear title.
The person receiving the property or to whom it is being conveyed.
The combined factors of usefulness with desirability.
An unqualified agreement to the terms of an offer.
An innocent or negligent mis-statement of a material fact which causes someone loss or harm.
DEFINITE AND CERTAIN
Precise acts to be performed are to be clearly stated.
The party receiving an offer.
An act meant to deceive in order to get someone to part with something of value.
The use of force to get agreement in accepting a contract.
An act must be performed within certain time limits as described in a contract.
An interest in various parts of a whole property, such as the interest of the fee owner, lessee, or mortgage.
The illegal practice of only showing clients property in certain areas.
COVENANTS, CONDITIONS AND RESTRICTIONS (CC&Rs)
Restrictions are placed on certain types of real property and limit the activities of owners.
American Land Title Association
An intangible, salable asset arising from the reputation of a business; the expectation of continued public patronage.
A court approved sale of the property of a deceased person.
The occupation of a broker. A real estate brokerage is the business of selling real estate through a broker who negotiates the sale for commission.
Liquid assets available for the conduct of daily business.
A signed statement, made before a notary public by a named person; confirming the signature on a document and that it was made of free will.
Notice given by possession of property.
ABSTRACT OF TITLE
A full summary of all consecutive grants, conveyances, wills, records and judicial proceedings affecting title to a specific parcel of real estate.
The act of charging a rate of interest in excess of that permitted by law.
Using a threat of violence to get agreement in accepting a contract.