Judgement The final determination of a court of competent jurisdiction

CA Real Estate Vocabulary Flashcards JudgementThe final determination of a court of competent jurisdiction of a matter presented to it; money judgements provide for the payment of claims presented to the court, or are awarded as damages, etc.DeedWritten instrument which, when properly executed and delivered, conveys tittle.AgencyThe relationship between principal and agent which arises out of contract either expressed or implied, written or oral, wherein the agent is employed by the principal to do certain acts dealing with a third party.AssessmentThe valuation of property for the purpose of levying a tax or the amount of the tax to be levied.DiscountFor less Trust deedNote DeciduousTrees which loose their leaves in the autumn and winter.EasementCreated by a grant or agreement for a specific purpose l, an easement is the right, privilege or interest which one

party has in the land of another (example: right-of-way)

Dominant tenementThe land that is benefited by an easement appurtenant.Judicial foreclosureBank goes to court AttachmentSeizure of property by court order, usually done to have it available in the event that a judgement is obtained in a pending lawsuit.Amortized loanA loan that is completely paid off, interest and principal, by a serious of regular payments that are equal or nearly equal. Also called a level payments loan.AssignmentA transfer or making over to another of the whole of any property, real or personal, in possession or in action, of any estate or right therein.OutlawsExpire AccruedAccumulated up to this point in time. Accrued interest, or accrued depreciation.Alienationthe transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.AssessorThe official who has the responsibility of determining assessed values.AppurtenanceSomething annexed to another thing which may be transferred incident to it. That which belongs to another thing, as a barn, dwelling, garage or orchard is incident to the land to which it is attached.

DwellingResidential property Promissory noteTo pay TrusteeSeller, beneficiary, bank MortgagorBuyer DeficiencyNegative, loss, up side down TrustorSeller, borrower DefaultDon't want to pay, refuse to pay AccretionAn addition to land from natural causes as, for example, from gradual action of the ocean or river waters Accrued DepreciationThe difference between the cost of replacement new as of the date of the appraisal and the present appraised value.A.L.T.A Tittle Policy(American Land Tittle Association) a type of insurance policy issued by tittle insurance companies which expands the risks normally insured against under the standard type policy. It is a lenders policy.GranteeBuyer JuniorSecond trust deed Alienation clauseClause in a loan document providing for full payment if property is sold.AbandonmentTo release a claim, as a declaration of abandonment when a property has been homestead.Acre43,560 square feet of land Deed of trustDocument by which naked legal tittle is transferred to a trustee as a security for a loan.Abstract of tittleA summary or digest of the conveyances, transfers, and any other facts relied on as evidence of tittle, together with any other elements of record which may impair the tittle.AssignorOne who assigns or transfers property.Ad valoremAccording to value DuressUnlawful constraint exercised upon a person whereby the person is forced to do some act against his or her will.AbstractA brief summary GrantorSeller EncumberedCloud, something against the tittle AccessionAcquiring tittle by having property added to your property Abstract of judgementA condensation of the essential provisions of a court judgement.AssigneeThe one to whom property is transferred.Lieu of foreclosureWhen owner gives grand deed willingly Assessed ValueA value placed upon property by a public officer or board as basis for taxation.LesseeTenant AmortizationThe liquidation of a financial obligation on an installment basis; also, recovery, over a period, of cost or value

AcknowledgementA formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.Acceleration ClauseClause in trust deed or mortgage giving the lender the right to call all sums owing to be due and payable upon the the happening of a certain event, such as the sale of the property or failure to pay property taxes.LessorOwner Abatement of nuisanceExtinction of termination of a nuisance HomesteadA home upon which the owner or owners have recorded a declaration of homestead, which protects the homeowner against judgements up to specified amounts.