A Words Flashcards
What is “abstract of title”?
Asummaryordigestofalltransfers,conveyances,legalproceedings,andanyother factsreliedonasevidenceoftitle,showingcontinuityofownership,togetherwithanyotherelementsofrecordwhichmayimpairtitle.
What is “AccelerationClause”?
Aconditioninarealestatefinancinginstrumentgivingthelenderthepowerto declareallsumsowinglenderimmediatelydueandpayableuponthehappeningofanevent,suchas saleoftheproperty,oradelinquencyintherepaymentofthenote.
What is “Accession”?
Thepotentialrightofownershiptolandwhichisproduced,thenaddedorunitedtothe owner’sland.
AccordandSatisfaction
Amethodofdischargingaclaimwherebythepartiesagreetogiveandaccept somethinginsettlementoftheclaimandperformtheagreement,theaccordbeingtheagreementand thesatisfactionitsexecutionorperformance,anditisanewcontractsubstitutedforanoldcontract whichistherebydischarged,orforanobligationorCauseofActionwhichissettled,andmusthaveallof theelementsofavalidcontract.
Accretion
Theprocessofgradualgrowthorincreaseoveraperiodoftimefromnaturallyoccurring events,resultinginadditionallayersofmatter.
Acknowledgement
Aformaldeclarationmadebeforeanauthorizedperson(ex:anotarypublic)bya personwhohasexecutedaninstrumentstatingthattheexecutionwashisorherfreeact. InCalifornia,anacknowledgementisthestatementbyanofficersuchasanotarythatthesignatoryto theinstrumentisthepersonrepresentedtobe.
What is “ActualAuthority”?
Authorityexpresslygivenbytheprincipalorgivenbythelawandnotdeniedbythe principal.
What is “ActualEviction”?
Theremovalofatenantbythelandlordbecausethetenantbreachedaconditionofa leaseoranotherrentalcontract.
ActualFraud
Anactintendedtodeceiveanother,e.g.,makingafalsestatement,makingapromise withoutintendingtoperformit,suppressingthetruth.
ActualNotice
Expressorimpliedknowledgeofafact.
AdValorem
Latinfor“accordingtovalue”.
AdjustableRateMortgage(ARM)
Amortgageloanwhichbearsinterestataratesubjecttochange duringthetermoftheloan,predeterminedorotherwise.
AdjustedBasis
Valueofpropertyusedtodeterminetheamountofgainorlossrealizedbyanowner uponsaleoftheproperty;equalsacquisitioncostpluscapitalimprovementsminusdepreciationtaken.
Administrator
Apersonappointedbyacourttoadministertheestateofaonewhohasdiedintestate.
AdversePossession
Amethodofacquiringtitletorealpropertybyconformingtostatutory requirements;aformofinvoluntaryalienationoftitle.
Advertising
Theprocessofcallingpeople’sattentiontosomethingtoarouseadesiretobuy,ortoat leastobtainadditionalinformationabouttheproductorservicebeingpromoted.
Agency
Therelationshipbetweenprincipalandtheprincipal’sagentwhicharisesoutofacontract, eitherexpressedorimplied,writtenororal,whereintheagentisemployedbytheprincipaltodocertain actsdealingwithathirdparty.
Agent
Onewhoactsforandwithauthorityfromanothercalledtheprincipal.
AirRights
Therightsinrealpropertytothereasonableuseoftheairspaceabovethesurfaceofthe land.
Alienate
Thecapacityforapieceofpropertyorapropertyrighttobesoldorotherwisetransferred fromonepartytoanother.
Alienation
Thetransferringofpropertytoanother;thetransferofpropertyandpossessionoflands,or otherthings,fromonepersontoanother.
Alluvium
Thegradualincreaseoftheearthonashoreofanoceanorbankofastreamresultingfrom theactionofthewater.
AlternativeDisputeResolution(ADR)
Theresolutionofdisputesbyvariousmeansincluding,butnot limitedtonegotiation,mediation,andarbitration.
AmericanswithDisabilitiesAct(ADA)
Afederallawprotectingtherightsofindividualswithphysical ormentalimpairments.
Annexation
Theattachingofpersonalpropertytolandsothatthelawviewsitaspartofthereal property(afixture).
AnnualPercentageRate(APR)
TherelativecostofcreditasdeterminedinaccordancewithRegulation ZoftheBoardofGovernorsoftheFederalReserveSystemforimplementingtheFederalTruthin LendingAct.
AnticipatoryRepudiation
Whenabreachoccursbeforeperformanceisdueasaresultofoneparty’s unequivocalintentionnottosubstantiallyperform.
Appraisal
Awrittenstatement,independentlyandimpartiallypreparedbyaqualifiedappraisersetting forthanopinioninafederallyrelatedtransactionastothemarketvalueofanadequatelydescribed propertyasofaspecificdate.Itissupportedbythepresentationandanalysisofrelevantmarket information.Anopinionofvalue.
Appraiser
Onequalifiedbyeducation,trainingandexperiencewhoishiredtoestimatethevalueof realandpersonalpropertybasedonexperience,judgment,facts,anduseofformalappraisalprocesses.
AppropriationofWater
Thetaking,impoundingordiversionofwaterflowingonthepublicdomain fromitsnaturalcourseandtheapplicationofthewatertosomebeneficialusepersonalandexclusiveto
theappropriator.
Appurtenances
Thatwhichbelongstosomething,bynotimmemorially;allthoserights,privileges,and improvementswhichbelongtoandpasswiththetransferoftheproperty,butwhicharenotnecessarily apartoftheactualproperty.
Arbitration
Aneutralthirdpartywholistenstoeachparty’spositionandmakesafinalbinding decision.
Assignees
Thosewhompropertyorintereststhereinshallhavebeentransferred.
Assignment
Atransferofbenefitsandobligationswithinacontracttoa3rdpartywhoisnotoriginally apartytothecontract.
Assignor
Onewhoassignsortransferproperty.
AssociateBroker
Alicensedrealestatebrokerwhochoosestoworkunderthenameandsupervision ofanotherlicensedbroker.
AssociateLicensee
Alicenseewhoislicensedunderabroker,orwhohasenteredintoawritten contractwiththebrokertoactasthebroker’sagentinarealestatetransaction.
Avulsion
Asuddenandperceptiblelossoflandbytheactionofwaterasbyasuddenchangeinthe courseofariver.
