Prep Agent
fixture
(Maria) Method, Adaptability, Relationship, Intention, Agreement.
plottage
1 plus 1 equals 3
Trade fixture
Business dentist chair
Bundle of rights
DEEP C
estate for years
Fixed period. example. Summer rental
police power
Keeping ppl safe ex zoning
littoral rights
Lakes, Oceans, large bodies of water
Chattel Real
Moveable - cows moveeee personal property
concurrent estate
Owning property with others
government powers
PETE - Police Power, Escheat, Taxation, Eminent Domain
cluster zoning
PUDS
tenancy in common
Part of T TIP missing
zoining
R3 - multi family residential
value
STUD
joint tenancy
T TIP - time tell interest position more than one person / right of survivorship
fee simple
absolute
listing
agreement between seller and broker to find buyer
impounds
an account for taxes and insurance
deposit
anything of value
subordination
big brother $10 example
subrogation
big brother deals with bully
subdivision
brownies example condo
steering
buyers
implied easement
by necessity. example. landlocked parcel
estate at will
can terminate at any time
valid contract essentials
capable parties, mutual consent, consideration, lawful object
Quiet title action
cloud removal
condemnation
compensation
executed contract
completely performed
alienation of title
conveyance (giving) the title
injunctions
court order to stop
emblements
crops. personal
Estate at sufferance
deadbeat tenant
negative amortization
debt goes up
probate sale
determined by court
amortization
downward slant, fulfilling a loan
voidable contract
duress
deeds
evidence of transfer of title
puffing
exagerating
gross lease
flat rent
eminent domain
government condemnation for public use
easement by condemnation
government create an easement on property
chain of title
history of ownership
community property
husband and wife owning property
net listing
illegal
void contract
illegal object
Real Property
immovable
capitalization approach
income to value
life estate
king and knight
lis pendens
lawsuit pending
cost replacement approach
libraries
market data approach
like properties
encumbrances
limitation/burden on property ex: lien, a lien is money owed on the property- ex mechanics lien (involuntary lien) voluntary lien is if they need to borrow money General lien - goes after other things Specific lien - goes after only 1 thing like home
fully amortization loan
line goes down, debt goes down as you pay
judgement lien example
lis pendens
specific lien example
loan
depreciation
loss in value
involuntary lien
mechanics lien
periodic tenancy
month to month or year to year
voluntary lien
mortgage
Personal Property
movable
statue of frauds
must be in writing
escrow
neutral
a novation
new
fee simple defeasible
no alcohol
quitclaim deed
no containing warranty
constructive eviction
no water or heat
acknowledgement
notary
exclusive listing
one broker
exclusive authorization and right to sell listing
one broker and gets commission
exclusive agency listing
one broker, owner can also sell
economic obsolescence
outside property lines
freehold estate
own indefinitely
title
ownership
percentage lease
part of gross receipts
appurtenant easement
passes with sale
straight note
paying interest only
building codes
police power
easement in gross
power lines
RESPA
prevents kickbacks
gross rate multipliers
price divided by rent
unilateral contract
promise for an act example option contract
bilateral contract
promise for promise
interest
rent on money
Less than freehold estate
rental
easement
right to cross another's land
riparian rights
rivers and streams moving body of water
protection period clause
safety clause entitles commission after expired listing
blockbusting, panic selling, and panic peddling
selling
severalty
sole ownership
inverse condemnation
suing the government
abstract of title
summary
General lien example
tax
net lease
tenant pays a portion of taxes insurance maintenance
statute of limitations
time
ownership
title
cloud on title
title is not clear. Example. former name
encroaching
trespassing, intruding
TIL
truth in lending
functional obsolescence
two cars, one car garage
grant deed
two implied warranties
abandonment
voluntary
avulsion
washing away land by water . Dam example
physical deterioration
wear and tear
open listing
whoever brings a buyer gets paid
testate
will
intestate
without a will
easement by prescription
without permission. example. a path
variance
zoning exception
