M words Flashcards
ManagementAgreement
Acontractthatcreatesanagencyrelationshipinwhichtheowneristhe principalandthepropertymanageristheagentfortheowner.
MandatedDisclosure
Anitemofinformationwhichisrequiredbylawtobeconveyedfromoneentity involvedinarealestatetransactiontoanotherentityinthesametransaction.
MansardRoof
Aroofthathasfourslopingsides,eachofwhichbecomesteeperhalfwaydown.
MarketableTitle
Titlewhichareasonablepurchaser,informedastothefactsandtheirlegal importanceandactingwithreasonablecare,wouldbewillingandoughttoaccept.
MaterialFact
Anyfactthatwouldinfluencethedecisionofareasonablyprudentperson.
MaturityDate
Thedatebywhichaloanistobepaidinfull.
Mechanic’sLien
Aliencreatedbystatutewhichexistsagainstrealpropertyinfavorofpersonswho haveperformedworkorfurnishedmaterialsfortheimprovementoftherealproperty.
Mediation
Aformofalternativedisputeresolutioninwhichthepartiestoalawsuitmeetwitha neutralthird‐partyinanefforttosettlethecase.
Mediator
Apersonwhoattemptstomakepeopleinvolvedinaconflictcometoanagreement.
MetesandBounds
Atermusedindescribingtheboundarylinesofland,seeingforthalltheboundary linestogetherwiththeirterminalpointsandangles.
MineralRights
Alandowner’srighttoreceiveaportionoftheprofitsofanymineralsthatareextracted fromtheland.
MobileHome
Astructuretransportableinoneormoresections,designedandequippedtocontain notmorethantwodwellingunitstobeusedwithorwithoutafoundationsystem.
Mortgage
Aninstrumentrecognizedbylawbywhichpropertyishypothecatedtosecurethepayment ofadebtorobligation;aprocedureforforeclosureineventofdefaultisestablishedbystatute.
MortgageBanker
Apersonwhoseprinciplebusinessistheoriginating,financing,closing,sellingand servicingofloanssecuredbyrealpropertyforinstitutionallendersonacontractualbasis.
MortgageBroker
Abrokerwhoarrangesamortgageloanbetweenalenderandaborrowerforafee.