Letter S Vocab Flashcards
This is a term that is used to describe the amount the property sold for is the ______.
Sales Price
This is a term that is used to describe an agent of the broker who is also a fiduciary to their client.
Salesperson
This is a term that is used to describe an agent of the broker and also a fiduciary to their client
Salesperson
This is a term that is used to describe when the lessee becomes lessor and sub-lessee will make payments to their lessor who will in turn make the payments to the original lessor
Sandwich Lease
This is a term that is used to define an area that consists of 640 acres
Section
This is a term that is used to define debt where collateral was used to secure the financing
Secured Debt
This is a term that is used to define the agent who is representing the seller OR owner of the property
Seller’s Broker
This is a term that is used to describe the total of all costs relating to the sale of the property
Selling Costs
This is a term that is used to define when a single “unmarried” individual buys property. It is a term used in real estate to describe the ownership of property by one person. It is also called sole ownership or sole and separate123. The term comes from the idea that the owner is “severed” from other owners and holds the property in his own right.
Severalty
This is a term that is used to define the conversion of real property to personal property
Severance
This is a term that is used to define a law passed in 1890 to prevent the artificial raising of prices by restriction of trade or supply and to break up monopolies
Sherman Antitrust Act
This is a term that is used to define when investors are looking for a ROI in a short time frame
Short Term Gains
________ from each party involved must be on the contract to affirm its acceptance and for validity.
Signed
What does the acronym S.P.D.S. mean?
Seller Property Disclosure Statements
This is a term that is used to define when properties are taxed according to those who will benefit.
Special Assessments
Why are Special Assessments taxes important?
A special assessment tax in real estate is an additional property tax assessed by the local government to pay for your property and neighborhood improvement projects. The tax goes toward a specific geographic region known as a special assessment district, and the property owners in that area are the only ones who must pay the tax.
This is a term that is used to describe when there are NOT violations of the zoning ordinance and allow something different than what was originally determined to be built
Special Use Permits
This is a term that is used to describe an agent in charge of only one action for the principal
Specific Agent OR Special Agent
This is a term that is used to describe debts that are directly tied to the real property ONLY
Specific Liens
This is a term that is used to describe a form of real estate investment gambling where appreciation of the property is the outcome’s goal and is the WIN!
Speculation
What is the formula for the Square Footage Method?
Represents a means of appraising a building simply by multiplying its square foot cost by the amount of square feet in the structure being evaluated. Two or more buildings can then be compared by analyzing their total square footage costs
This is a term that is used to describe when these state laws may apply but it ONLY Applies to intestate situation when a person HAS heirs. This is the state statute that sets forth the distribution of assets to the heirs of the estate. The law pertains to the transfer of real property of a decedent who failed to leave a will.
State Laws of Descent
This is a term that is used to describe Written laws adopted by a legislative body
Statute Laws
This is a term that is used to defines time limits on bringing suit or action
Statute of Limitations
This is a term that is used to describe any lien that is placed on the property by an act of law
Statutory Lien
This term is used to describe that this calendar counts all 36 days of the year, each month has is calculated using 30 as the actual number of days.
Statutory Year
This is a term that is used to describe funneling prospective home buyers to or away from buying in a certain area
Steering also known as Channeling
This is a term that is used to describe property which buyers or tenants may shun for reasons that are unrelated to its physical condition or features
Stigmatized Property
This is a term that is used to describe acting as an agent on behalf of someone else
Sub Agent
This is a term that is used to describe when an agent is an ‘agent of the agent’ aka agent for the broker
Sub Agent
This is a term that is used to describe land divided into 6 or more parcels of less than 36 acres each
Subdivided Land
This is a term that is used to define the person who divides subdivided land
Subdivider
This is a term that is used to describe that there is a subject to condition on the existing mortgage on the property that will need an appraisal
Subject To
This is a term that is used to define the identified property being appraised
Subject Property
This is a term that is used to define the action taken when the current “lessee” becomes a “lessor” to a 3rd party
Sub-Leasing
This is a term that is used to describe what it is called when the injured party can force the other party to fulfill the contract
Suit for Performance
This is a term that is used to describe water found ON the surface of the property
Surface Water
