問題一覧
1
what is A piece of land that has been enhanced an is ready for structure
a site
2
an area of preference which can attribute to value
a situs
3
each party acts in their own interest also know as meeting of the minds
arms length transaction
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the combining of 2 or more parcels of land into one larger parcel
assemblage
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method used to determine the cost of building that relies on cost manuals
square foot method
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a lien such as a tax lien or judgement lien which attaches to all property during and prior to ownership
general lien
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method of identifying properties located in a subdivision
lot and block system
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ownership by 2 or more people each has undivided interest with right of survivorship
joint tenancy
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transfer of property with the owners consent
voluntary alienation
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interest in real property that gives the title holder the right to acquire legal title to the property
equitable title
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when the entire principal amount of the loan is paid off at maturity or end,there are know principals made
straight note
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real estate brokers/sales persons to inform sellers of their obligation to disclose any info relative to lead paint within the home
TITLE X
13
method of reducing the fees required when a borrower decides to prepay a fixed commercial real estate loan
defeasance
14
controls/adjust the priority of mortgage loans keeps junior mortgages secondary to primary mortgages when refinanced
subordination clause
15
what is? a mortgage with low initial monthly payments which gradually increase over a specified period of time
gradual payment adjustable mortgage
16
method of reducing the fees required when borrower decides to prepay a fixed commercial real estate loan
defeasance
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document allowing for legal seizure of property for a debt before a judgement is ?
write of attachment
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when the agent is sole representative of the buyer and is not allowed to hire different agents
exclusive buyer agency agreement
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simply a interest in real property ?
a estate
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a protection law that state declares unfair methods and practices against citizens,home buyers or others
MGL 93A
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this shows how an area or neighborhood is divided into various lots or parcel of land recorded at the town hall
plat map
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a court order to stop someone from performing a act or to restrain them from continuing a act
injunction
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controls or adjust the priority of mortgage loans keeps junior mortgage secondary to a primary one when it is refinanced
subordination clause
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method of calculating the cost of a structure the most common method of estimating cost by resedential appraisal
comparative unit method
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a estate of indefinite duration and is freely transferable and inheritable can be passed to heirs or by law
fee simple
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relieves one or both parties of there performance obligation if circumstances beyond their control arise
force majuere
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entire principal amount of the loan is paid off at maturity or end with no principal payments made
straight note
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purchases resedential mortgages and converts them into securities for the sale to investors
Fannie Mae
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arrangement in which two or more parties share ownership but have undivided interest no right of survivorship
tenancy in common
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a loan taken out to replace a short term or interim loan usually after the completion of a construction project
a take out loan
31
a judgement against a borrower for the balance of the debt owed after the forclosure sale .
defiency judgement
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when appraiser counts number and type of each part and material used to construct a building + cost for labor materials etc
quantity survey method
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problems that the buyer finds with the property during inspection
patent defect
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judgement against a (mortgagor) for the balance of debt owed after a forclosure sale
defiency judgement
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property law doctrine which states that a mortgage transfers a properties title but holds it until it is payed
title theory
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a poisonous gas given off as part of combustion
carbon monoxide
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purchases resedential mortgages and converts them into securities for the sale to investors
Fannie Mae
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rental agreement based on the cost of living adjustments
index lease
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the total operating expenses of a brokerage (divided by) the total number of licensees in the office .
desk cost
40
the seller reimburses the buyer for loss of liability
indemnify
41
a safety clause can also be known as ?
extension clause
42
a township =
36 square miles
43
how many feet are there in 1 acre
43,560 ft
44
real estate taxes can be known as ?
ad valorem taxes
45
grants a company specific right to access another’s property for a specific purpose
easement in gross
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a gift of real estate made by a will
devise
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describing land that uses compass degrees,feet and monuments is known as
metes and bounds
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any document or claim that may invalidate or impair the title to real property
cloud on title
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a written instrument that conveys title to real property
deed
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a restriction placed by a private grantor on the future use of the property
deed restriction
51
refers to a decrease in the assessed value of an ad valorem tax or in the assessment rate
abatement
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a promise that runs w the property forever in a general warranty deed
covenant
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person w no ownership interest in the property and no permission from the property owner continually uses property for a specific period of time.
easement by prescription
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more buyers less home =
sellers market
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an area of preference which can attribute to value
situs
56
the combining of two or more parcels of land into one larger parcel
assemblage
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a estate in which ownership is held for a defined length of time
non freehold estate
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a form of tenancy where there is no written lease . The tenant is not required to give notice beforehand and note rent is agreed upon
tenancy at will
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someone buys a loan and they need to pay it back
principal
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runs north to south in a government survey
principal meridian
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many buyers fewer homes =
buyers market
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north and south boundaries of townships are created by ?
township lines
63
east and west rows of townships
tiers
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ownership of one property by different people each having equal rights it is inheritable no rights of survivorship
tenancy in common
65
a promise that runs forever with the property in a general warranty deed
covenant