Life Estate Ownership for the duration of someone's life. The life tenant has all the rights and duties of an owner, except the right to choose who will get the property upon his or her death. The person who gets the property is called the remainderman, who gets fee simple ownership. ...
用Quizlet學習並牢記包含*Law of Contracts* 1. Which of the following practices could be considered practicing law by a real estate broker for the sale or lease of real property? A. Use of a form prepared by the broker's company B. Use of a form prepared b
The person to whom ownership, title or interest in real estate is transferred. They have the same legal rights, objectives, and remedies as the grantor. Allodial System The real property ownership system that allows free and full ownership right in land by individuals. Alluvion The soil deposited...
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A characteristic of real property; each piece of land, each building, and each house is a unique piece of real estate. Also called Uniqueness or Heterogeneity. Real Estate Cycles General swings in real estate activity, resulting in increasing or decreasing activity and property values, during diff...
INTEREST OR VALUE THAT ONE HAS IN REAL ESTATE PROPERTY OVER AND ABOVE ANY LIENS AGAINST IT. Also ownership in property, determined by calculating the fair market value minus the amount of liens and encumbrance. FORECLOSURE A legal process to enforce a lien on a mortgage or deed of trust. Th...
Texas Reverse Mortgage Underwritten based upon the home's appraised value and the loan term or the actuarial life expectancy of the owner. Uses formulasMinimum age 62Max size 10 acresMust receive counseling Real Estate Settlement Procedures Act (RESPA) The federal law that requires certain disclosure...
The interest of co-owners in which individual interest is indistinguishable. (Everyone owns part of the whole property.) 點擊卡片即可翻轉 👆 建立者 katherine_ferguson45 學生們也學習了 學習指南 Chapter 4 Quiz (Legal Aspects of Real Estate) ...
Everything that isn't real estate or land, including movable items like laptops or bikes. Trade Fixture Items a business owner attaches to a property to run their business, such as special equipment in a coffee shop, which can be taken when leaving the property. ...
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