Letter R Vocab

Question 1

What is the formula for R.O.I.?

Answer 1

Profit from Investment / Cost of Investment = Return on Investment

Question 2

This term describes naturally occurring radioactive gas that can cause lung cancer.

Answer 2

Radon

Question 3

This term defines North-South lines

Answer 3

Range Lines

Question 4

This term defines 6 mile strips

Answer 4

Range Lines

Question 5

This term defines a type of agency formation that take place after the fact.

Answer 5

Ratified Agency

Question 6

This term defines Land, anything under it or over it, rights, improvements and fixtures.

Answer 6

Real Property

Question 7

This term defines all parties acting fairly with the intent to complete the agreement.

Answer 7

Reasonable Standard

Question 8

This term defines refusing to issue insurance polices or make loans in a particular area.

Answer 8

Redlining

Question 9

This term describes how property value will decrease if less valuable property enters an area.

Answer 9

Regression

Ex. A new airport in a residential community would bring prices down.

Question 10

This term defines a recession of water that continues to expose increased land.

Answer 10

Reliction

Question 11

This term defines a third party who has a remainder interest in real property.

Answer 11

Remainderman

Question 12

This term defines the cost of rebuilding using current materials.

Answer 12

Replacement Costs

Question 13

This term defines he cost of an exact reproduction.

Answer 13

Reproduction Costs

Question 14

This term is define as Revoked, cancelled or taken back.

Answer 14

Rescind

Question 15

This term defines the remedy of cancelling a contract that restores all parties to original negotiations, making all parties whole again.

Answer 15

Rescission

Question 16

What does the acronym RESPA mean?

Answer 16

Real Estate Settlement Procedures
Act

Question 17

This term defines whereby the property will revert back to the lessor at the termination of the lease.

Answer 17

Reversionary Interest

Question 18

This term defines a contract clause that automatically transfers full ownership back to grantor.

Answer 18

Reverter Clause

EX. Reverter, in the context of real property, means the return to the grantor or his/her heirs of real property after all interests in the property given to others have terminated. Reverter occurs when the property owner transfers a vested estate of lesser quantum than he started with. Reverter is also called “reversion”. For example, if A grants land “to B until he marries Y” or “to Z so long as the land is used for church purposes”, then there is a possibility that the land will revert to A if B marries Y, or if the land is no longer used for a church.

Question 19

This term defines when one owner dies, their portion of the property will pass ‘automatically’ to the other owners and split equally.

Answer 19

Rights of Survivorship

Question 20

This term describes water rights that apply to Flowing Waters (Rivers and Streams).

Answer 20

Riparian Rights