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