Letter R Vocab Flashcards
What is the formula for R.O.I.?
Profit from Investment / Cost of Investment = Return on Investment
This term describes naturally occurring radioactive gas that can cause lung cancer.
Radon
This term defines North-South lines
Range Lines
This term defines 6 mile strips
Range Lines
This term defines a type of agency formation that take place after the fact.
Ratified Agency
This term defines Land, anything under it or over it, rights, improvements and fixtures.
Real Property
This term defines all parties acting fairly with the intent to complete the agreement.
Reasonable Standard
This term defines refusing to issue insurance polices or make loans in a particular area.
Redlining
This term describes how property value will decrease if less valuable property enters an area.
Regression
Ex. A new airport in a residential community would bring prices down.
This term defines a recession of water that continues to expose increased land.
Reliction
This term defines a third party who has a remainder interest in real property.
Remainderman
This term defines the cost of rebuilding using current materials.
Replacement Costs
This term defines he cost of an exact reproduction.
Reproduction Costs
This term is define as Revoked, cancelled or taken back.
Rescind
This term defines the remedy of cancelling a contract that restores all parties to original negotiations, making all parties whole again.
Rescission
What does the acronym RESPA mean?
Real Estate Settlement Procedures
Act
This term defines whereby the property will revert back to the lessor at the termination of the lease.
Reversionary Interest
This term defines a contract clause that automatically transfers full ownership back to grantor.
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.
This term defines when one owner dies, their portion of the property will pass ‘automatically’ to the other owners and split equally.
Rights of Survivorship
This term describes water rights that apply to Flowing Waters (Rivers and Streams).
Riparian Rights
