Ballon payment Final payment; pay entire payment plus interest due.

Prep agent Real Estate Flashcards RESPA(Real Estate Settlement Procedures Act) 1-4 Residential , prevent kickbacks Chain of TitleHistory of ownership The Principal of RegressionOther properties will go down Community PropertyMarriageHusband and Wife

Trade FixtureBusiness ( personal property )( ex: a dentist chair )

TitleOwnership General LienJudgement lienGo to court bc u owe $ Ballon paymentFinal payment; pay entire payment plus interest due.Exclusive Right to Sell ListingProvides protection to broker for a commission still regardless who sells TILATruth In Lending ActDisclosed information of credit cost Buy downPay money upfront to lower the interest rate Abstract of TitleSummary giving details of the title deeds that can prove owners right LeasePersonal property Police PowerZoningKeeping people safe Less than Freehold estateApartment building Gross Rent MultiplierPrice divided by rent l Negative AmorizationUr debt goes up as you pay off your loan FiduciaryAgent Failed to CARE for their client AbandonmentTerminating by not using it anymore Usury LawsLimit amount of interest that may be charged A Valid ContractCapable , mutual consent, consideration, legal

• government powersPETEPolice PowerEminent DomainTaxationEscheat

Zoning OridancesULTBSUse of landLot sizesTypes of structuresPermittedBuilding heightsSetbacks ValueSTUDScarcityTransferabilityUtilityDemand EscheatNo will , No heirsGovt. takes property Specific PerformanceRequires a party to perform their specific Act that they said they were going to do in the contract DeedsEvidence of the transfer of title Exclusive Listing1 brokers exclusively Government PowersPETEPolice Power,Eminent DomainTaxationEscheat Market Data ApproachComparing other properties to your to find your value Life estate Pur Autre vieBased upon a life of another AbandonmentWhen a tenant leaves unit Voluntary Unilateral ContractOne Promise for a ActOption Contract(Reward poster ) Easement in GrossLimited right of one person to use another's land; attaches personally to the owner not the land.LiensMoney owed

Fiduciary RELATIONSHIPACOLDAccountabilityCare and skillObey legal instructionLoyal to your clientDue care Chattel realCattle cows MOOOOOOOvable Specific LienLoan on your house SitusThe location of the property affecting value Statute of limitationsTime( a lease under 1 year) Littoral RightsSea, lake AppurtenancesRun with the land ; goes with the property EncumbrancesLimitation on yourProperty Void contractMinor Riparian RightsRiver , Creek EquityInterest in the property ; the money above and beyond what you owe .EasementRight of passage SeveraltyBy yourself Bilateral ContractPromise for a promiseA listing Agreement Cost ApproachSpecial purpose propertiesLibraries PuffingExaggerate Net ListingBroker authorized to sell property the seller agrees to accept a SET PRICE BlockbustingYou should SELL bc of these certain people are moving near you FixtureMARIAMethod, adaptability,Relationship,IntentionalAgreement ImpoundsTaxes and insurance due SubleasesPossession but not responsibility Staff appraiserWho works for a company that had a salary Capitalization Income ApproachConverts income into value Percentage LeaseLandlord gets paid on percentage of your sales Eminent DomainTakes property for public use InjunctionCourt order to stop Voidable contractStill have the option, can cancel or keep InterestRent on MONEY MisrepresentationWhoops my badWithout intention Joint TenancyTTIPTime, Title , Interest,PossessionRight of survivorship Executed ContractBoth parties signed Title InsuranceMake sure the ownership transfers correctly, clear and marketable title AlienationTransferring title /ownership Inverse CondemnationSue the government Bundle of RightsDeepC disposition,exclusion, enjoyment , postion , control Plottage1+1= 3Combine units and the value increases more Straight NotePeriodic payments of interest only A ListingBilateral employment contract - Seller - Broker - to find a ready willing able buyer

SteeringPush buyers to a certain neighborhood The Statue of FraudsContracts need to be in writing EncroachmentTrespassed Estate for YearsFixed period of time Exclusive Agency Listing1 broker ; owner can still sell LicenseGranted permission to do something Fee appraiserThe one you hire when ur selling homes Personal PropertyMovable TestateWith a will Deficiency JudgementForeclosure Net LeasePay for your tax , insurance and maintenance EscrowMiddle man ; Neutral Party Concurrent estateWith others Estate at SufferanceDeadbeat tenantDoesn't want to leave Concurrent EstateWhen you own it with others NovationBuyer assumes sellers loan ; new contract has been created.Down ZoningCommercial to Residential Physical DeteriorationProperty falling apart IntestateWithout a will VarianceRequest of alternationFrom zoning ordinance Real PropertyImmovable Lis PendensLawsuit Pending Tenancy in CommonPossession ConsiderationCompensation A Cloud on titleTitle is not Clear(When something is wrong with the title) Estate for yearsNo notice before you move out; designated period of timeSUMMER RENTAL