Shared Flashcard Set

Details

Real Estate License
Words and Terms
16
Real Estate & Planning
Professional
02/08/2012

Additional Real Estate & Planning Flashcards

 


 

Cards

Term
DECLARATION OF HOMESTEAD
Definition
THE RECORDED DOCUMENT THAT PROTECTS A HOMEOWNER FROM FORECLOSURE BY CERTAIN JUDGEMENT CREDITORS
Term
EMBLEMENTS
Definition
Annual crops produced for sale, by a tenant using or occupying the property
Term
VOIDABLE
Definition
An agreement which is valid and enforeable on its face, but maybe rejected by one or more of the parties
Term
IMPLIED CONTRACT
Definition
Agreement shown by acts and conduct rather than words
Term
SECTION
Definition
An area of land, used in the governement survey method of land description: a land area of one square mile, or 640 acres; 1/36 of a township
Term
PRIVATE GRANT
Definition
The granting of private property to other private person
Term
REVOKE
Definition
Recall and make void
Term
TENDER
Definition
An offer by one of the parties to a contract to carry out his or her part of the contract
Term
PUBLIC GRANT
Definition
The transfer of title by the government to a private individual
Term
REAL ESTATE SALESPERSON
Definition
Someon holding a real estate license and employed by a a real estate broker, for pay to perform any of the activities of a real estate broker
Term
REAL ESTATE LAW
Definition
The law that affects the licensing and conduct of real estate agents
Term
REAL ESTATE BROKER
Definition
Someone permitted by law to employ persons holding a salesperson's license and who may also negotiate sales
Term
ADVERSE POSSESSION
Definition
Acquiring title to property by continued possession and payment of taxes
Term
IMPLIED CONTRACT
Definition
Agreement shown by acts and conduct rather than words
Term
INSTRUMENT
Definition
A written legal document setting forth the rights and liabilities fo the parties involved
Term
CHATTEL REAL
Definition
An item of personal property which is connected to real estate, for example a lease
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