Module 11 Flashcards
The person appointed by the court to handle the estate of someone who died without a will
Administrator
The causing of harm by disrupting something that belongs to someone else – for example, interfering with a contractual relationship
Tortious interference
The basic evidence of debt showing in writing who owes how much to whom
Promissory note
The intentional or negligent misrepresentation or concealment of a material fact
Correct
The agent who finds a buyer in a real estate transaction
Selling agent
Increase in the value of a property due to changes in market conditions, inflation, or other causes
Appreciation
An unexpected failure to perform according to the terms of a contract
Breach
An interest created in property upon the execution of a valid sales contract, whereby actual title will be transferred by deed at a future closing date
Equitable title
The legal ability to enter into a contract
Contractual capacity
A land use that does not comply with the general zoning rules for the zone in which it’s located, but is permitted there because it benefits the public
Condition use
Possession of property by a holdover tenant
Tenancy at sufferance
Anyone who is authorized to act on behalf of someone else
Agent
When a contract is terminated and each party gives anything acquired and the contract back to the other party
Rescission
An easement that benefits a person instead of a piece of land
Easement in gross
When something outside the control of the property makes it less desireable
Economic obsolescence
