Terminology

Question 1

A.L.T.A. Title Policy

Answer 1

A type of title insurance policy issued by title insurance companies which expands the risks normally insured against under the standard type policy. (Cover Boundary Disputes)

Question 2

Abatement of Nuisance

Answer 2

排除妨害
Extinction or termination of a nuisance.

Question 3

Abstract of Judgment

Answer 3

A condensation of the essential provisions of a court Judgment.

Question 4

Abstract of Title

Answer 4

A summary or digest of the conveyances, transfers and any other facts relied on as evidence of title, together with any other elements of record which may impair the title.

Question 5

Abstraction

Answer 5

A method of valuing land. The indicated value of the improvement is deducted from the sale price.

Question 6

Accelerated Cost Recovery System

Answer 6

The system for figuring depreciation (Cost recovery) for depreciable real property acquired and placed into service after January 1, 1981. (ACRS).

Question 7

Accelerated Depreciation

Answer 7

A method of cost write-off in which depreciation allowances are greater in the first few years of ownership than in subsequent years. This permits an earlier recovery of capital and a faster tax write-off of an asset.

Question 8

Acceleration Clause

Answer 8

Clause in trust deed or mortgage giving lender right to call all sums owing him to be immediately due and payable upon the happening of a certain event.

Question 9

Acceptance

Answer 9

When the seller or agent’s principal agrees to the terms of the agreement of sale and approves the negotiation on the part of the agent and acknowledges receipt of the deposit in subscribing to the agreement of sale, that act is termed an acceptance.

Question 10

Access Right

Answer 10

The right of an owner to have ingress and egress to and from his property.

Question 11

Accession

Answer 11

An addition to property through the efforts of man or by natural forces.

Question 12

Accretion

Answer 12

An addition to land from natural causes as, for example, from gradual action of the ocean or river waters.

Question 13

Accrued Items of Expense

Answer 13

应计费用
Those incurred expenses which are not yet payable. The seller’s accrued expenses are credited to the purchaser in a closing statement.

Question 14

Accrued Depreciation

Answer 14

应计折旧
The difference between the cost of replacement new as of the date of the appraisal and the present appraised value.

Question 15

Acknowledgment

Answer 15

A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.

Question 16

Acoustical Tile

Answer 16

隔音砖
Blocks of fiber, mineral or metal, with small holes or rough-textured surface to absorb sound, used as covering for interior walls and ceilings.

Question 17

Acquisition

Answer 17

The act or process by which a person procures property.

Question 18

Acre

Answer 18

A measure of land equaling 160 square rods, or 4,840 square yards, or 43,560 square feet, or a tract about 208.71 feet square.

Question 19

Actual Authority

Answer 19

That authority an agent has or believes that he or she has because of an intentional, unintentional or careless act of a principal.

Question 20

Actual Fraud

Answer 20

An act intended to deceive another, e.g., making a false statement, making a promise without intending to perform it, suppressing the truth.

Question 21

Administrator

Answer 21

A male person appointed by the probate court to administer the estate of a person deceased.

Question 22

AD Valorem

Answer 22

A Latin phrase meaning “according to value.” Usually used in connection with real estate taxation.