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