1
Q
The placement of permanent improvement on adjacent property owned by another.
A
Encroachment
2
Q
Owned by
A
Vested
3
Q
To perform a complete; to sign.
A
Execute
4
Q
An agreement in which one party promises to pay consideration for the performance of an act by another party. The party promising to pay consideration is not legally obligated to act unless the party promising to perform does so.
A
Execute Contract
5
Q
A contract in which each party to the contract promises to perform some act or duty in exchange for the promise of the other party.
A
Bilateral Contract
6
Q
Ended the war with Mexico in 1848, and California became a possession of the United States.
A
Treaty of Guadalupe Hidalgo
7
Q
The legal transfer of a person’s interest in real property under the law of descent and distribution.
A
Succession
8
Q
I waited enter property; eccess.
A
Ingress
9
Q
An agent of a person who is already acting as an agent for principal.
A
Subagent
10
Q
The acquisition of little to additional land or to improvement as a result of annexation of fixtures or as a result of alluvial deposits along the banks of streams by accretion.
A
Accession
11
Q
Sand or mud carried by water and deposited on land.
A
Alluvial Deposit
12
Q
Agreement shown by acts and conduct rather than words.
A
Implied Contract
13
Q
A contract in which an obligation to perform exist on one or both sides of the contract.
A
Executory Contract
14
Q
The appropriation of property belonging to another
A
Conversion
15
Q
The transfer of a claim, benefit, or right in property from one person to another
A
Assignment
16
Q
Agreement to the provisions of the contract by the parties involved; a mutual willingness to enter into a contract
A
Mutual consent
17
Q
A relationship in which one party (principal) authorizes another party (agent) to act as the principal’s representative in dealing with third parties
A
Agency
18
Q
An agreement to do or not do a certain thing.
A
Contract
19
Q
Temporarily make ineffective
A
Suspend
20
Q
The rights or interests an owner has in something owned
A
Property
21
Q
The transfer of title to land from one person to another by use of a written instrument
A
Conveyances
22
Q
The right to use another’s land for a specified purpose; sometimes known as right-of-way
A
Easement
23
Q
Anything movable that is not real property
A
Personal property
24
Q
A recorded notice indicating pending litigation on a property that prevents a conveyance or any other transfer of ownership until the lawsuit is settled.
A
Lis Pendens
25
Someone permitted by law to employ persons holding a salesperson's license and who may also negotiate sales.
Real state broker
26
Land; anything affixed to the land; anything appurtenant to the land; anything immovable by law
Real property
27
The land description used in the U.S. government survey system consisting of a six-by-six mile area containing 36 sections, each one mile Square
Township
28
A written agreement used to transfer ownership in personal property
Bill of sale
29
A condition which requires something to occur before the transaction becomes absolute and enforceable: for example, a sale that is contingent on the buyer obtaining financing.
Condition precedent
30
And ownership concept describing all the legal rights that attach to the ownership of real property
Bundle of rights
31
An estate that is limited in duration to life of its owner or the life of some other chosen person
Life estate
32
An estate in which the holder has a fee simple title that is subject to return to the grantor if a specified condition occurs; also known as fee simple qualified
Fee simple defeasible
33
Personal property that has become affixed to real estate
Fixture
34
The most complete form of ownership of real property; also known as an estate of inheritance
Estate in fee
35
An estate in real property which continues for an indefinite period of time
Freehold estate
36
An article of personal property affixed to leased property by the tenant as a necessary part of business; may be removed by tenant as personal property upon termination of the lease
Trade fixture
37
An estate in which the holder has a fee simple title that is subject to return to the grantor if a specified condition occurs
Fee simple qualified
38
A measurement meaning one foot or twelve inches in length as contrasted to a square foot or a cubic foot
Linear foot
39
Personal property
Chattel
40
A method of land description in which the dimensions of the property are measured by distance and direction
Metes and bounds
41
A legal interest in land that defines the nature, degree, extent, and duration of a person's ownership in land
Estate
42
Annual crops produced for sale, by a tenant using or occupying the property
Emblements
43
A condition which, if it occurs at some point in the future, can cause a property to revert to the grantor: example, a requirement in a grant deed that a buyer must never use the property for anything other than a private residence
Condition subsequent
44
The recorded document that protects a homeowner from foreclosure by certain judgment creditors
Declaration of homestead
45
Permission to use a property which may be revoked at any time
License
46
A way to exit property
Egress
47
Recall and make void
Revoke
48
Approved
Ratified
49
Someone under 18 years of age
Minor
50
Legally binding
Valid
51
An agreement which is totally absent of legal effect
Void
52
Soil that builds up as s result of accretion
Alluvium
53
The party making an offer
Offeror
54
An unqualified agreement to terms of an offer
Acceptance
55
The rejection of an original offer that becomes a new offer
Counteroffer
56
The party receiving an offer
Offeree
57
Precise acts to be performed are to be clearly stated.
Definite and certain
58
The gradual wearing away of land by natural process
Erosion
59
A court action to divide a property held by co-owners
Partition action
60
Ownership of real property by one person or entity
Severalty
61
To deposit client funds in the broker's personal account
Commingling
62
A prospective buyer of real estate
Customer
63
To transfer ownership of title
Convey
64
Transfer ownership or sell
Alienate
65
A lawsuit brought to court
Action
66
A fixed landmark used in metes and bounds land description
Monument
67
The largest, most complete ownership recognized by law; also known as a fee simple absolute, or fee
Fee simple
68
A freehold estate can be passed by descent or by will after the owner's death
Estate of inheritance
69
A survey line running north and south, used as a reference when mapping land
Meridian
70
The law that affects the licensing and conduct of real estate agents
Real estate law
71
The canceling of an offer to a contract by the person making the original offer
Revocation
72
A presentation or personal for acceptance to form the contract
Offer
73
A written instrument given a person legal authority to act on behalf of another person
Power of attorney
74
A survey line running east and west, and used as a reference when mapping land
Bass line
75
And action brought in a court to compel a party to carry out the terms of the contract
Specific performance
76
Someone who is legally set free from parental control/supervision
Emancipated minor
77
The failure to perform on part or all of the terms and conditions of the contract
Breach of contract
78
The use of force to get agreement in excepting the contract
Duress
79
Using unfair advantage to get agreement in accepting a contract
Undue influence
80
Using a threat of violence to get agreement and accepting a contract
Menace
81
Intention to be bound by an agreement, thus preventing jokes and jests from becoming valid contract
Contractual intent
82
The person who employs an agent to perform of service for a fee
Client
83
Each party to a contract must give up something to make the agreement binding
Valuable consideration
84
The building-up of soil by natural causes on property bordering the river, lake, or ocean.
Accretion
85
The final legal decision of a judge in a court of law regarding the legal rights of the parties to a dispute
Judgment
86
The person transferring a claim, benefit, or right in property to another
Consideration
87
A relationship that implies a position of trust or confidence
Fiduciary
88
Occurs when land that has been covered by water is exposed by the receding of the water
Reliction
89
Land grants recorded by the Mexican government in California
Expedientes
90
The person to whom a claim, benefit, or right in property is made
Assignee
91
An agent who represents both parties in a transaction
Dual agent
92
The substitution by agreement of the obligation for an existing one
Novation
93
The granting of private property to other private persons
Private Grant
94
Acquiring title to property by continued position and payment of Texas
Adverse possession
95
Land bordering a lake, ocean, or sea as opposed to a land bordering a stream or river (running water)
Littoral
96
Owners may use only reasonable amount of the total water supply for beneficial use.
Doctrine of correlative user
97
An item of personal property which is connected to a real estate, for example a lease
Chattel real
98
I leasehold estate that is considered to exist for a definite period of time or successive period of time until termination
Less-than-freehold estate
99
The most complete form of ownership of real property; also known as simple, or free
Fee simple absolute
100
A land description used in the U.S.government survey system consisting of a strip of land located every 6 miles east of each principal meridian
Range
101
An area of land, used in the government survey method of land description: a land area of one square mile, or 640 acres; 1/36 of a township.
Section
102
The large and most complete ownership recognized by law; and estate in fee with no restrictions on its use; also known as a fee simple
Fee
103
A set of principles or values by which an individual guides his or her own behavior and judges that of others
Ethics
104
Someone holding a real estate license and employed by a real estate broker, for pay, to perform any of the activities of real estate broker
Real estate salesperson
105
The power of the state to pass laws, that promote order, safety, health, morals, and general welfare of its citizens.
Police power
106
Those rights, privileges, and improvement that belong to and pass with the transfer of real property, but are not necessarily a part of the actual property
Appurtenance
107
The same as a real estate salesperson, holding a real estate license, employed by a broker
Real estate sales associate
108
The right of a landowner whose land is next to a natural watercourse to reasonable use of whatever water flows past the property
Riparian rights
109
And agreement which is valid and enforceable on its face, but may be rejected by one or more of the parties
Voidable
110
A competent and disinterested person who is authorized by another person to act in his or her place in legal matters
Attorney-in-fact
111
Someone licensed by the department of Real Estate, holding either a broker or salesperson license, who negotiates sales for other people
Real estate agent
112
An individual; a private person, as distinguished from an artificial entity such as a corporation or partnership
Natural person
113
Exaggerated comments or opinions not made as representations of fact and thus not grounds for misrepresentations
Puffing
114
A right, given for consideration, to a party (optionee) by a property owner (optionor)
Option
115
A contract that was valid when made but either cannot be proved or will not be enforced by a court
Unenforceable
116
Sets in advance a specified amount of money as a penalty in the event of a breach of contract.
Liquidated damages
117
A contract by which a principal employs an agent to do certain things for the principal
Listing
118
An act must be performed within certain time limits as described in a contract
Timely manner
119
An act meant to deceive in order to get someone to part with something of value
Fraud
120
An innocent or negligent misstatement of a material fact which causes someone loss or harm
Mis-Representation
121
Legal action taken to repeal a contract either by mutual consent of the parties or by one party when the other party has breached a contract
Rescission
122
Legal action taken to repeal a contract by one party when the other party has breached a contract
Unilateral Rescission
123
A grant of public lands by the government usually for roads, railroads, or agricultural colleges
Land grant
124
Primary document used to present an offer on real property; also known as a sales contract
Deposit Receipt
125
A person who act for and in the place of another, called a principal, for the purpose of affecting the principal's legal relationship with third persons
Agent
126
A state law which requires that certain contracts must be in writing and contain essential elements in order to be enforceable
Statute of frauds
127
Transfer less than the entire leasehold, with the original lessee being primarily liable
Sublease
128
Refraining from action by a creditor against the debt owed by a borrower after the debt has become due
Forbearance
129
A transaction, such as sales of property, in which all parties involved are acting in their own self-interest and are under no undue influence or pressure from the other parties
Arm's length transaction
130
Oral or written negotiations made prior to a dispute about an executed contract
Parole evidence
131
A written legal document setting forth the rights and liabilities of the parties involved
Instrument
132
Deeds used by the U.S. government when confirming or transferring ownership of private parties
Patents
133
An easement that is not appurtenant to any one parcel, for example, public utilities
Easement in gross
134
The sudden washing or tearing away of the land by action of water
Avulsion
135
That interest a co-owner has in property, which carries with it the right to possession and use of the whole property, along with the co-owners
Undivided interest
136
The parties declare the terms and put their intentions in words, either oral or written
Express contract
137
A statute limiting the period of time during which legal action may be taken on a certain issue
Statute of limitations
138
A type of deed in which the grantor warrants that he or she has not previously conveyed the property being granted, that he or she has not encumbered the property except disclosed, and that he or she will convey to the grantee any title to the property acquired later
Grant deed
139
The approval of a previously authorized act, performed on behalf of a person, which makes the act valid and legally binding
Ratification
140
An agreement in which one party promises to pay consideration for the performance of an act by another party. The party promising to pay consideration is not legally obligated to act unless the party promising to perform does so
Unilateral contract
141
A deed given by the government to a private individual as evidence of transfer of title from government to the public person
Patent deed
142
An offer by one of the parties to a contract to carry out his or her part of the contract
Tender
Real Estate
flashcards
Decks in class (5)
# Cards
