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Pre-licensing flashcards > AKA List > Flashcards

AKA List Flashcards

1
Q

Borrower

A

mortgagor, maker, payor, obligor, grantee

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2
Q

Seller

A

grantor

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3
Q

Lender

A

mortgagee, payee

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4
Q

Landlord

A

lessor

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5
Q

Tenant

A

lessee

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6
Q

Split-level home

A

tri-level home

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7
Q

Due-on-sale clause

A

alienation clause

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8
Q

Principal + Interest

A

debt service

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9
Q

Points

A

prepaid interest

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10
Q

Amortization

A

mortgage debt reduction, debt liquidation

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11
Q

Level payment mortgate

A

fixed rate-level payment mortgage

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12
Q

Interest only mortgage

A

term loan, straight loan, interest only loan

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13
Q

Loan Origination fee

A

transfer fee

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14
Q

Uniqueness

A

nonhomogeneity, heterogeneity

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15
Q

Designated agency

A

designated dual agency

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16
Q

Land

A

real estate, realty, real property

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17
Q

Personal property

A

personalty, chattel

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18
Q

Location

A

situs

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19
Q

Inheritable interest

A

hereditaments

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20
Q

Appurtenance

A

runs with the land, appurtenant rights, improvements

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21
Q

High tide

A

mean high water mark

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22
Q

Manufactured home

A

mobile home, trailer

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23
Q

Fructus industriales

A

emblements, fruit of industry

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24
Q

Non-freehold estate

A

leasehold estate

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25
Q

Fee simple defeasible

A

qualified fee estate

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26
Q

Estovers

A

use of property resources to maintain property

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27
Q

Hybrid ownership

A

common interest community ownership

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28
Q

Mortgage

A

deed of trust (NC), debt service

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29
Q

Property taxes

A

ad valorem taxes

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30
Q

Writs

A

court orders

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31
Q

Covenants

A

deed restrictions, conditions, protective covenants

32
Q

Assessed Value

A

true market value, full market value

33
Q

Lot and block

A

reference to a recorded plat

34
Q

Tiers

A

township tiers

35
Q

Seisin

A

freehold possession

36
Q

Special warranty deed

A

limited warranty deed

37
Q

Cloud on title

A

color on title (stained)

38
Q

Excise tax

A

deed transfer tax, revenue stamps

39
Q

Client

40
Q

Seller’s agent

A

listing agent

41
Q

Broker

A

agent, salesperson

42
Q

Firm (national)

43
Q

Stigmatized properties (national)

A

property where someone died, haunted, etc

44
Q

Protection period

A

extender clause, override clause

45
Q

Offer to purchase

A

(national) contract of sale, purchase and sale agreement

46
Q

Counter offer

A

conditional acceptance

47
Q

Agreement

48
Q

Ernest money deposit

A

liquidated damages

49
Q

Rescission

A

cancellation

50
Q

Installment land contract

A

contract for deed, land contract, land sales contract/agreement

51
Q

Tenancy at will

A

estate at will

52
Q

Tenancy at sufferance

A

estate at sufferance

53
Q

Percentage lease

A

retail lease

54
Q

Fixed rental flat

A

gross lease

55
Q

Cash flow

A

cash throw off

56
Q

Homeowner’s insurance

A

hazard insurance

57
Q

Property insurance

A

casualty insurance

58
Q

Satisfaction of mortgate

A

deed of release, release of mortgage, mortgage discharge

59
Q

Alienation clause

A

due on sale clause

60
Q

fixed rate loan

A

level payment

61
Q

Quitclaim deed

A

non-warranty deed

62
Q

Fannie Mae

A

Federal National Mortgage Association

63
Q

Sill

A

sill plate

64
Q

Market value

A

appraisal process

65
Q

Market price

A

sold price

66
Q

Market cost

A

investment by owner

67
Q

Sales Comparison Approach

A

Market Data Approach, Sales comp

68
Q

Economic depreciation

A

locational, environmental, external obsolescence

69
Q

Rate of return

A

capitalization rate (cap rate)

70
Q

income capitalization approach

A

income approach

71
Q

Blockbusting

A

panic pedaling

72
Q

CERCLA

73
Q

Escrow account

A

trust account

74
Q

RESPA

A

regulation x

75
Q

Agency

A

relationship (between firm and client)

Pre-licensing flashcards (2 decks)

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