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