Day 1 Real Estate Vocabulary Flashcards

Day 1 Real Estate Vocabulary Flashcards STATUTE OF LIMITATIONSA federal or state statute setting the maximum time period during which a certain action can be brought or certain rights enforced.Load-bearing wall Approach of substitution Chatteln.THE PRINCIPLE OF REGRESSIONThe Value of more expensive home placed in a neighborhood of less expensive homes will drop in value

INJUNCTION

Straight noteWhen there are no principal payments made and the entire principal amount of the loan is paid off at maturity or the end.relinquishmenta giving up; a surrender RelictionThe increase in land caused by the gradual recession, shrinkage, or change in course of a body of water (such as a lake, sea, or river) which gives the owner of the riparian property more dry land."reliction"reliction real estatereliction real estate USURYn., PRINCIPLE OF CONFORMITY Appraisal theory that affirms that the maximum value is realized if the use of land conforms to existing neighborhood standards.Executory contractcontract not fully performed on both sides Avulsion Accretiongrowth in size or increase in amount The cost approach NovationSubstituting a new obligation for an old one or substituting new parties to an existing obligation.DURESS (n.) compulsion by threat; forcible confinement

PRINCIPLE OF STAGNATION

BLOCKBUSTINGA process by which real estate agents convince white property owners to sell their houses at low prices because of fear that persons of color will soon move into the neighborhood Accession(n.) agreeing with or consenting to(n.) the act of attaining or gaining access to a new office or position(syn.) acquiescenceaccession