Glossary Quiz ABS

The amount of value of a property above the total liens or mortgages os known as:

Equity

Reversion of property to the State is called

Escheat

An admission by the mortgagor as the exact principal balance is known as:

Estoppel certificate

Biennal most nearly means:

Every two years

The term habendum is used in connection with

A deed

Ad valorem is:

A tax according to valuation

A title which is free from any encumbrance or cloud is:

Abstract of title

A declaration made by a person to a qualified official that he freely and voluntarily executed a deed or other instrument is called:

An acknowledgemnt

A statute is:

An act of the legislature

An incident of land that passes with the title to the land is:

An appurtenance

One who has the right to sign the name of his principal to legal documents is:

An attorney-in-fact

The word "et ux" most nearly means:

And wife

Promulgated most nearly means:

Announced

To negotiate most nearly means:

Arrange

Combining adjoining parcels of land into one larger holding which gives the opportunity for more profitable development is called:

Assemblage

The term allegation most nearly means:

Assert

Bequeath is most nearly the opposite:

Bequest

An agreement to cover the down payment for the purchase of real estate as evidence of good faith on the part of the purchaser is

Binder

The violation of an obligation, engagement, or duty us:

Breach

The right of ownership, the right to use, possess, enjoy and dispose of a thing in every legay way and to exclude everyone else from interfering without rights is called:

Bundle of rights

The process of computng current value from expected future income is:

Capitalization

That which appears to be good title but which in fact is not good title is:

Color of title

the word consummate most nearly means:

Complete

To transact most nearly means:

Conduct

The word prospectus means all, but one fo the following:

Customer

Liquited damages are:

Damages agreed to be paid by the defaulting party

A commitment is:

Engagement

To put up something as security without surrendering possession is to:

Hypothecate

Irrevocable most nearly means:

Inalterable

amortization means:

Liquidation

a public notice, filed against specific lands, that an action at law is pending that may affect the title of the land:

Lis pendes

All of the following are synonymous except:

Mortagagor-lendor

An assignee is:

One who receives an assignemnt

Agent most nearly means:

One who represents another

To covenant is to:

Pledge

A printed advertisement for a new development, such as a subdivision is called a:

Prospectus

The remaoval of acloud from a title by proper action in a court of competent juridiction is called:

Quieting title

A person appointed by a court to administer property on which payments have been defaulted is

Receiver

The word revoked most nearly means:

Repealed

Waiver could mean all of the following except:

Restituition

The word reversion most nearly means:

Return to grantor, his heirs, or remainderman

The rights to the water thereon of a person owning land containing or bordering upon a stream are called:

Riparian rights

The distance from the curb or other established line, within which no building may be erected is called:

Set back

a condemnee is:

Someone whose property was taken thorugh condemnation proceedeeings

A remedy in a cpurt of equity compelling the defendant to carry out the terms of the agreement or contract which was executed is:

Specific performance

The action to compel the seller to execute a deed in pursuance of a written agreement is an action for:

Specific performance

Homogeneity most nearly means:

Stabilizes the area

In the planning and engineering of a tract for subdivion purposes a "Cul de Sac" is frequently employed. Ths term is used in reference to type if:

Street

Which if the following best describes earnest money:

The money deposited by the purchaser at the time of signing the contract

Equity represnets:

The owner's interest over and above the denbts against the property

Certain documents must be acknowledfged before they can be recorded, to Acknowledge means:

To declare that you signed a document

Hypothecate most nearly means:

To give as security

Quieting a title most nearly means:

To settle a cloud on the title by court action

To subordinate most nearly means:

To subrogate

The word fiduciary is most closely related to:

Trust

Bona fide can mean all except:

Unlawful

The seller of real estate is called:

Vendor

That which is capable of being adjedjed void, but is not void unless acton is taken to make it so:

Voidable

The term pursuant most nearly means:

in accordance with

A transcription is a

original recording

Chattel is another name for:

personal property

In law, the word tender means:

to offer to perform

To convey most nearly means:

to transfer