Vocab: B

Question 1

Backfill

Answer 1

Excavated material used to fill in trenches around a property, such as against its foundation.

Question 2

Bearing Wall

Answer 2

A wall or partition which supports an upper part of a building, usually a roof or floor above.

Question 3

Beneficiary

Answer 3

One entitled to the benefits of a trust. One who receives benefits from an estate, the title of which is vested in a trustee. The lender holding a note and deed of trust.

Question 4

Blanket Mortgage

Answer 4

A mortgage which is secured by two or more parcels of real property.

Question 5

Blockbusting

Answer 5

The prohibited practice of a real estate licensee inducing a property owner to list their property for sale in response to a change taking place in the neighborhood demographics

Question 6

Boot

Answer 6

Receipt of an item not of like-kind property, such as cash or mortgage relief, in a tax deferred exchange

Question 7

Breach

Answer 7

The failure to perform when required on an agreement or failure of a duty owed another, either by omission or an act.

Question 8

Building Code

Answer 8

A series of regulations for construction of buildings withing a municipality established by ordinance or law

Question 9

Bulk Sale

Answer 9

The transfer of more than one-half the inventory of a businesses materials or goods to a person other than the business customers.

Question 10

Bundle of Rights

Answer 10

All of the legal rights incident to ownership of property including rights of use, possession, encumbering and disposition

Question 11

Business Opportunity

Answer 11

The assets for a business enterprise including its goodwill. The term includes the sale or lease of the business and goodwill of and existing business enterprise or oppurtunity.