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Flashcards in Terms F Deck (23)
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1
Q

A federal prohibition that protects buyer/renter of a dwelling from seller/landlord discrimination with regards to race, color, religion, gender, or national origin.

A

Fair Housing Act of 1968

2
Q

A single person, pregnant woman or a household with children under 18 living with parents or legal custodians who might experience housing discrimination.

A

Familial Status

3
Q

A group consisting of parents and children living together in a household.

A

Family

4
Q

Architectural term for a band running horizontally and situated vertically under a roof edge, or which forms the outer surface of a cornice, visible to an observer. Typically consisting of a wooden board or sheet metal.

A

Fasica

5
Q

Absolute ownership of real property; a person has this type of estate where the person is entitled to the entire property with unconditional power of disposition during the person’s life and descending to the person’s heirs or distributees.

A

Fee Simple Estate

6
Q

Backed loans that usually require a lower down payment and may sometimes have a lower interest rate.

A

FHA Mortgage

7
Q

A person who on behalf of or for the benefit of another transacts business or handles money or property not the person’s own; such relationship implies great confidence and trust.

A

Fiduciary

8
Q

The legal duty of a fiduciary to act in the best interests of the beneficiary. One common duty includes confidentiality.

A

Fiduciary Duties

9
Q

The decline in value of properties in neighborhood that were once middle or upper-middle income.

A

Filtering Down

10
Q

The first contact or meeting by a licensee when some detail and information about the property is shared with parties who express some interest in the real estate transactions.

A

First Substantive Contact

11
Q

Personal property so attached to the land or improvements as to become part of the real property.

A

Fixture/Trade Fixture

12
Q

Sheet metal used at wall and roof junctions and around chimney to prevent water entry.

A

Flashing

13
Q

A fee paid by a seller or buyer on a housing co-op transaction typically in New York City. It is not a tax, and not deductible as property tax. It is a transfer fee payable upon the sale of an apartment to the co-op.

A

Flip Tax

14
Q

A term used for buying a home and then turning around and reselling it for a profit.

A

Flipping

15
Q

Concrete set in the soil (foundation bed) that support the foundation of the house.

A

Footing

16
Q

A special agreement between the lender and the borrower to delay a foreclosure.

A

Forbearance

17
Q

The part of the structure, typically below grade, upon which all other construction is built.

A

Foundation Walls

18
Q

Moderately toxic gases or liquids which have typically been used as refrigerants (in air conditioning units) and as aerosol propellants.

A

Freon

19
Q

Easily crumbled or reduced to powder. Asbestos is an example of a friable substance.

A

Friable

20
Q

Refers to the length of a parcel facing a street.

A

Front Foot

21
Q

A type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee. This type of deed contains the strongest guarantee of title.

A

Full Covenant and Warranty Deed

22
Q

Impairment of useful capacity or efficiency; loss of value caused by super adequacy, inadequacy or changes in the art inherent in the property itself, not to be confused with external effects of economic obsolescence. Curable if the cost to cure is justified by the resulting increase in value of the property; otherwise incurable.

A

Functional Obsolescence

23
Q

A device used in electrical systems to protect against excessive current.

A

Fuse