Details Title: Real Estate Feasibility Test 1 Description: 1-An Introduction to Real Estate Investment:Legal Concepts and 2-Financing: Notes and Mortgages Total Flash Cards: 9 Created: 09/20/2009 20:18:28		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Real Estate & Planning Flashcards
Cards in this set: Term Estate in possession Definition entititles its owner to immediate enjoyment of the rights to that estate......estate not in possession conveys enjoyment in the future Term freehold estate Definition indefinate period Term remainder Definition exists when the grantor of a present estate with fewer ownership rights than the grantor's own estate conveys to a third person the reversionary interest the grantor of the heirs would otherwise have in the property upon termination Term reversion Definition exists when the holder of an estate in land (the grantor) conveys to another person (a gratnee) a present estate in the property that has fewer ownership rights than the grantors own estate and retains for the grantor the right to take back the full estate that the grantor enjoyed before the conveyance Term estate for years Definition has exact duration Term abstract of title Definition historical summary of the publicly recorded documents that affect a title Term Most significant warranties conveyed in a General Warranty Definition Grantor has good title '' has right to convey a covenant to compensate the grantee fo loss of property or eviction suffered by the grantee as a result of someone else having a superior claim covenant against encumbrances on the propety otehr than those specifically stated Term note Definition a document which serves as evidence that debt exists between a borrower  a borrower and a lender Term Definition