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Vocabulary 2 for 60 Hour Flashcards | StudBud
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Vocabulary 2 for 60 Hour
Vocabulary 2 for 60 Hour
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1
A contract that complies with all the essentials of a contract and is binding and enforceable on all parties to it.
time is of the essence contract
verbal contract
valid contract
unilateral contract
2
On a closing statement, an amount charged to any party would be called a:
credit
debit
profit
covenant
3
An article installed by a tenant under the terms of the lease that is removable by the tenant before the lease ends is:
a trade fixture
a lease option
an x-bar method
a fixture
4
An agreed upon periodic payment made by a tenant for possession and use of a property owned by another is called...
rent
fiduciary
lien
PITI
5
The earth's surface downward to the center and upward infinitely into space AND things permanently attached by nature...
...is called land
...is called immobility
...is called uniqueness
...is called improvements
6
A relationship of trust and confidence between parties is called
fiduciary relationship
consent
master plan
promissory
7
The relationship between a principal and an agent who is authorized to represent the principal is called
agency
beneficiary
addendum
heir
8
A place or condition where goods can be bought or sold and a price is established is called...
competition
market
patent
license
9
The natural level at which the ground is saturated is called
water rights
water table
margin
riparian rights
10
A property that has acquired an undesirable reputation due to an event that occurred on or near it is considered to be
ratified
stigmatized
a liability
a variance
11
An item of personal property that has been converted to real property by permanently attaching it is called what?
Novation
Reservation
Fixture
Emblements
12
The illegal practice of channeling home seekers to particular areas based on any of the protected classes is considered
stigmatized properties
steering
fiduciary
redlining
13
A payment by a tenant, held by the landlord, and kept in the event of default or damage is considered...
security deposit
collateral
First and Last month's rent
earnest money
14
The market in which loans are originated is called
comparable market
secondary mortgage market
market value
primary mortgage market
15
A premium added to the index rate representing the lender's cost of doing business is referred to as a
satisfaction
security deposit
license
margin
16
A horizontal plane from which heights and depths are measured is what?
Exclusive Economic Zones
Water table
Datum
Law of the Sea
17
Laws designed to preserve the free enterprise of the open marketplace by making certain behaviors illegal is called:
Small Business Liability Relief
Internet Data Exchange Policy
Antitrust Laws
Fair Housing Amendments Act of 1988
18
A charge made by the lender for the use of their money is called
rent
usury
prorations
interest
19
Private agreements that affect land use that may be included in the seller's deed to the buyer.
covenants, conditions and restrictions
land trust
spot zoning
intermediary
20
A person who receives a transfer of real property from another is the
managing broker
grantor
grantee
lender