Government Flashcards
Learn about government roles and regulations affecting real estate, including taxation, zoning, and property rights.
Which real estate term is this?
Actions taken on behalf of a government agency or entity, not by a private party.
Acts of the State
Which real estate term is this?
Government processes for licensing and other services assigned by the legislative branch.
Administrative Hearings and Procedures
Which real estate term is this?
Designed to prevent practices that restrain trade or inhibit free competition, like monopolies or price fixing.
Antitrust Laws
Which real estate term is this?
The chief legal officer in charge of enforcing the law and defending state actions.
Attorney General
Which real estate term is this?
Local and state laws that set minimum construction and habitability standards based on public health, safety, and welfare.
Building Codes and Regulations
Which real estate term is this?
A certificate issued by the Veterans Administration verifying eligibility for a VA loan.
Certificate of Eligibility
(COE)
Which real estate term is this?
The legal proceeding under the government’s right to claim land for public use via eminent domain.
Condemnation
Which real estate term is this?
Private nonprofit organizations create these trusts to protect or maintain designated land.
Conservation Land Trust
Which real estate term is this?
An authorization for lenders to perform their own loan reviews and underwriting.
Direct Endorsement
Which real estate term is this?
Programs helping buyers with down payments through grants or loans.
Down Payment Assistance Program
Which real estate term is this?
The government’s right to take private real estate for public benefit.
Eminent Domain
Which real estate term is this?
Process where property goes to the state if the owner dies without heirs.
Escheat
Which real estate term is this?
A tax on property or its transfer at the time of the owner’s passing.
Estate Tax(es)
Which real estate term is this?
The amount an individual can leave to heirs without paying tax.
Estate Tax Exemption
Which real estate term is this?
Decisions rendered by the federal court system, including the Supreme Court.
Federal Court Decisions
Which real estate term is this?
A real estate-related transaction requiring an appraiser’s services, regulated by federal agencies.
Federally Related Transaction
(FRT)
Which real estate term is this?
Regulations adopted by federal agencies under Congress’s authority.
Federal Regulations
Which real estate term is this?
Statute requiring landlords to make leased properties habitable and maintain them.
Habitability Statute
Which real estate term is this?
Refers to geographic or subject matter-based areas or bases in which a government agency is authorized to exercise its authority.
Jurisdiction
Which real estate term is this?
Regulations based on factors like square footage and number of bedrooms for rental properties.
Occupancy Standards
Which real estate term is this?
A subsection of HUD ensuring safe, decent, and affordable housing.
Office of Public and Indian Housing
(PIH)
Which real estate term is this?
State laws addressing individual privacy and handling of social security numbers.
Privacy Laws
Which real estate term is this?
Laws addressing ownership, sale, leasing, and transfer of rights in property.
Real Estate Laws
Which real estate term is this?
Tax from a change in property use, attributed to buyer or seller.
Rollback Tax
