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Duplicate of Real Estate Vocabulary Flashcards | StudBud
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Duplicate of Real Estate Vocabulary
Duplicate of Real Estate Vocabulary
68 terms
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Real Estate Vocabulary #Therealestateschool #tallyrealtorgirl
Flashcards
68 cards
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Answers
1
Person who has a claim on another property
Lienee
Lienor
2
Buyer in a sales contract?
Vendor
Vendee
3
An act of corruption, vileness or moral depravity: a disgraceful action or deed
Quorum
Moral Turpitude
Severance
Obsolescence
4
An opinion of value based on supportive evidence and approved methods?
Appraisal
Comparative Market Analysis
USPAP
Brokers Price Opinion
5
A gift of real property by will
devise
devisor
devisee
heir
6
The SE 1/4 of the NW 1/4 and NE 1/4 of the SW 1/4 contain how many acres?
40
10
30
80
7
The properties value minus the debt is called?
Risk
Equity
Cash Flow
Leverage
8
A person to whom legal right is transferred?
Assignee
Assignor
9
Which method would an appraiser use for an investment property?
Cost Approach
Sales Comparison Approach
Income Approach
Market Analysis Approach
10
State and federal laws designed to maintain and preserve business competition
FHA guidelines
government control
Antitrust law
FREC law
11
An estate that can become effective only after another estate is terminated?
Estate by Entireties
Estopple
Estate of Remainder
Estate of Severalty
12
If you took the NOI and divided it by the sales price is would give you?
Index
Median
Overall Cap Rate
Interest Rate
13
A course of action for determining the disposition of a contested binder deposit?
Litigation
Escrow disbursement order
Arbitration
Writ of supersedes
14
The combination of two or more adjoining properties into one tract?
spec home
situs
assemblage
plottage
15
Deductions from taxable income on investment property do NOT include
Operating Expenses
Financing Expenses
Reserve for Replacement Fund
Depreciation
16
Prospective buyers preference for a certain area that affect value is?
Supply
Demand
Market condition
Situs
17
A written lease agreement with a specific starting and ending date?
Fee simple
Estate for years
Tenancy at will
Tenancy at sufferance
18
The freedom to use the open space above the property
Subsurface rights
Property rights
Air rights
Riperian rights
19
When you take the Potential gross income and deduct vacancy and collections, it is called ?
Net Income
Effective Gross Income
Potential Gross Income
Net Operating Income
20
The age indicated by a structures condition and utility
effective age
depreciation
comparative approach
sales method
21
Comparing similar properties to the subject property is called?
Income Approach
Sales Comparison Approach
Cost Depreciation Approach
Appraisal
22
A person who transfers legal right to another?
Assignor
Assignee
23
Tina Coombs is My FAVORITE!!!
YES
YES
YES
YES
24
The ability to provide useful services and benefits to an owner or tenant?
Demand
Utility
Scarcity
Transferability
25
Seller in a Sales Contract?
Vendee
Vedor
26
The difference between the adjusted basis of property and its net selling price?
Equity
Tax Shelter
Leverage
Capital Gain
27
When a correction of a defect results in as much added value as the cost to cure?
Curable
Functional Obsolescence
Non-curable
Over improvement
28
License held by a broker in two or more real estate firms?
Broker Associate License
Mutual Recognition License
Group License
Multiple License
29
A portion of the VA guaranteed loan that protects the lender if the borrower defaults
deposit
entitlement
escrow
encumbrance
30
Which approach would an Appraiser use for a Hospital Building?
Sales Comp Approach
Cost Approach
Income Approach
Market Analysis Approach
31
A loan that covers both real and personal property >
Blanket Mortgage
Mortgage fraud
Package Mortgage
Amortized mortgage
32
Total annual income a property would produce if it were fully rented and no collection losses
Effective Gross Income
Net Operating Income
None
Potential Gross Income
33
Basic Property Rights include?
Disturb, Control, Enjoy, Will, Exclude
Disposition, Enjoy, Exclusion, Possession, Control
Disposition, Enjoy, Will, Destroy, Control
Enjoy, Exclude, Destroy, Will, Control
34
The monetary value of a good or service to many buyers/sellers at a particular time?
Cost
Demand
Price
Value
35
The most comprehensive estate and it is inheritable?
Life Estate
Tenancy in common
Remainder Estate
Fee Simple
36
Owner who gives an option to a buyer?
Optionee
Optionor
37
Lender who receives note and mortgage ?
Mortgagee
Mortgagor
38
Party giving the deed that conveys title?
Grantor
Grantee
39
A provision in a mortgage that specifies terms to be met to avoid default?
Habendum Clause
Seisin Clause
Defeasance clause
Granting clause
40
Anything inferior because of operational inadequacies, poor design, changing taste, etc.
Physical Deterioration
Functional Obsolescence
Depreciation
External Obsolescence
41
Landlord who gives the lease?
Lessee
Lessor
42
Any item of personal property?
Encumbrance
Assets
Chattel
Entitlement
43
The added value as a result of assembling two or more properties into one?
Plottage
Plat map
Assemblage
Conformity
44
Seller receiving an offer to purchase and who accepts, counters, or rejects the offer?
Offer
Offeror
45
Party receiving the deed and acquiring the title?
Grantor
Grantee
46
The point when the broker makes no effort to service or sell the listed property
Adoption
Abandonment
Acceleration clause
Absentee ownership
47
Estimating market value based on the cost to buy it's equivalent is called?
Market Value Approach
Sales Comp Approach
Income Approach
Cost Approach
48
Inadequate attention to duties and obligations by those who know what is required of them
Commingle
Culpable Negligence
Condemnation
Conveyance
49
A covenant in a deed that warrants that the seller(grantor) holds the property fee simple
Testate
Seisin
Defeasance
Habendum
50
Tenant who receives the lease?
Lessor
Lessee
51
According to the value; in proportion of worth
Taxes
Ad Valorem
Property taxes
Interest rates
52
The total amount of spendable income generated from an investment?
Capital Gain
Cash Flow
Tax Shelter
Equity
53
Buyer making offer to purchase?
Offer
Offeror
54
A defect, valid claim, or encumbrance that serves to impair the title?
Conversion
Collusion
Commingling
Cloud on title
55
Property owner that does not reside at the property
Owner
Tenant
Friend
Absentee ownership
56
A one time tax levied on properties to help pay for public improvements is called?
Special Assessment
Assessed Taxes
Easement
Encumbrance
57
To offer land for public use?
Encumbrance
Gift
Declaration
Dedication
58
After the EGI has been calculated and all operating expenses have been deducted it is called?
Net Operating Income
Cash Flow
Effective Gross Income
Potential Gross Income
59
A deceased person, usually one who has recently died?
Descent
Devisor
Decedent
Devise
60
An owner invest more money than can reasonably be expected to recapture is called?
Highest and Best Use
External Obsolescence
Functional Obsolescence
Overimprovement
61
Buyer who receives an Option contract?
Optionee
Optionor
62
Borrower who gives note and mortgage to obtain loan?
Mortgagee
Mortgagor
63
An agreement wherein the terms are specifically stated by the parties orally, written or both?
Executed contract
Executory Contract
None
Express Contract
64
Person whose property is subject to a claim or charge by another
Lienee
Lienor
65
The freedom to use open space above property ?
Property rights
Air rights
Alienation
Subsurface rights
66
A principle of law that prohibits people from defending themselves against their own acts
estoppel
devisee
novation
ad valorem
67
One or more parties cause a third party to be deceived into believing a relationship exist
Business Brokerage
Corporation
Mortgage Fraud
Ostensible partnership
68
A written statement that bars the signer from making a claim inconsistent with the instrument?
Executory contract
Estoppel certificate
Addendum
Encumbrance clause
