Real Estate law final
RealExam
Real Estate Law Final Exam
Estate Guide
law final Exam2025?2026
Guide 2025-2026? Complete Study
Study online at https://quizlet.com/_h3kb3i
1. abandonment The relinquishment of property, title or rights without the idea of returning to them
2. Agricultural lands lands that are being actively used for grazing and or crop production
3. Annual cap Limits the amount of increase or decrease a rate could adjust in any on adjustment
period (usually 2 percent)
4. agency A relationship in which one party (the principal) authorizes another (the agent) to
act on the principals behalf
5. acceptance assent to the terms of an offer
6. annual percent- as defined in the truth in lending act, the percentage that the total finance charge
age rate (APR) calcuulated on an annual basis bears to the amount of the loan or credit
7. Balloon payment a mortgage in which the final payment under a contract is substantially larger than
mortgage the previous installment payments
8. Bylaws(condo) the rules governing the internal operation of a condominium unit development
9. chain of title the recorded history of events that affect the title to a specific parcel of land , usually
(recorded histo- beginning with the original patent or grant.
ry; to original
grant)
10. Common ele- the parts of the development property that are necessary or convenient for the
ments residents of a condominium and are owned in common by all condo residents.
11. consideration a promise, act or forbearance bargained for and given in exchange for a promise
act or forbearance.
12. contract. a promise or agreement that the law will enforce.
13. Deed a legal instrument that conveys title to real property on delivery and acceptance by
the grantee.
Real Estate Law Final Exam Guide 2025?2026 ? Complete Study
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, Real Estate law final
RealExam
Real Estate Law Final Exam
Estate Guide
law final Exam2025?2026
Guide 2025-2026? Complete Study
Study online at https://quizlet.com/_h3kb3i
14. building code protects the public health, safety, and welfare by regulating building and construc-
tion standards.
15. broker an agent who facilitates transactions between parties
16. breach of con- the unexcused failure to perform an obligation under contract
tract
17. closing the final state of the real estate purchase transaction when the deed and the
purchase money are exchanged
18. condominium the fee simple ownership of one unit in a multiple-unit structure, combined with
an ownership of an undivided interest in the land an all other parts of the structure
held in common with the owners of the other individual units of the structure
19. Acceleration a provision in a mortgage giving the mortgagee the right to declare the entire debt
due and payable on default.
20. comprehensive a prerequisite for regulating land use. its contents can range from a thorough
plan master plan to a zoning code and map
21. constructive evi- an occurrence that results when the actions of the landlord so materially interfere
dence with the tenants enjoyment as to make the premises uninhabitable
22. community prop- a form of co-ownership between husband and wife in which each has one-half
erty interest in property acquired through the labor of either during
23. cooperative a form of ownership in which the land and the buildings are usually owned by
a corporation; individual unit residents own stock in the corporation and have a
proprietary lease in a specific unit or apartment
24. co-ownership ownership of real estate in which two or more people have undivided interests
25. easement a right to use another persons real property fir a particular purpose
Real Estate Law Final Exam Guide 2025?2026 ? Complete Study
2/9
RealExam
Real Estate Law Final Exam
Estate Guide
law final Exam2025?2026
Guide 2025-2026? Complete Study
Study online at https://quizlet.com/_h3kb3i
1. abandonment The relinquishment of property, title or rights without the idea of returning to them
2. Agricultural lands lands that are being actively used for grazing and or crop production
3. Annual cap Limits the amount of increase or decrease a rate could adjust in any on adjustment
period (usually 2 percent)
4. agency A relationship in which one party (the principal) authorizes another (the agent) to
act on the principals behalf
5. acceptance assent to the terms of an offer
6. annual percent- as defined in the truth in lending act, the percentage that the total finance charge
age rate (APR) calcuulated on an annual basis bears to the amount of the loan or credit
7. Balloon payment a mortgage in which the final payment under a contract is substantially larger than
mortgage the previous installment payments
8. Bylaws(condo) the rules governing the internal operation of a condominium unit development
9. chain of title the recorded history of events that affect the title to a specific parcel of land , usually
(recorded histo- beginning with the original patent or grant.
ry; to original
grant)
10. Common ele- the parts of the development property that are necessary or convenient for the
ments residents of a condominium and are owned in common by all condo residents.
11. consideration a promise, act or forbearance bargained for and given in exchange for a promise
act or forbearance.
12. contract. a promise or agreement that the law will enforce.
13. Deed a legal instrument that conveys title to real property on delivery and acceptance by
the grantee.
Real Estate Law Final Exam Guide 2025?2026 ? Complete Study
1/9
, Real Estate law final
RealExam
Real Estate Law Final Exam
Estate Guide
law final Exam2025?2026
Guide 2025-2026? Complete Study
Study online at https://quizlet.com/_h3kb3i
14. building code protects the public health, safety, and welfare by regulating building and construc-
tion standards.
15. broker an agent who facilitates transactions between parties
16. breach of con- the unexcused failure to perform an obligation under contract
tract
17. closing the final state of the real estate purchase transaction when the deed and the
purchase money are exchanged
18. condominium the fee simple ownership of one unit in a multiple-unit structure, combined with
an ownership of an undivided interest in the land an all other parts of the structure
held in common with the owners of the other individual units of the structure
19. Acceleration a provision in a mortgage giving the mortgagee the right to declare the entire debt
due and payable on default.
20. comprehensive a prerequisite for regulating land use. its contents can range from a thorough
plan master plan to a zoning code and map
21. constructive evi- an occurrence that results when the actions of the landlord so materially interfere
dence with the tenants enjoyment as to make the premises uninhabitable
22. community prop- a form of co-ownership between husband and wife in which each has one-half
erty interest in property acquired through the labor of either during
23. cooperative a form of ownership in which the land and the buildings are usually owned by
a corporation; individual unit residents own stock in the corporation and have a
proprietary lease in a specific unit or apartment
24. co-ownership ownership of real estate in which two or more people have undivided interests
25. easement a right to use another persons real property fir a particular purpose
Real Estate Law Final Exam Guide 2025?2026 ? Complete Study
2/9
