Colibri Real Estate - Texas Principles Of Real Est
Colibri Real Estate - Texas Principles of Real Est
Exam (elaborations)
Colibri Real Estate - Texas Principles of Real Estate II
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Course
Colibri Real Estate - Texas Principles of Real Est
Institution
Colibri Real Estate - Texas Principles Of Real Est
Colibri Real Estate - Texas Principles of Real Estate II
Interstate Land Sales Full Disclosure Act
This act establishes a nationwide program for the registration of subdivisions sold across state lines,
aiming to protect consumers by providing essential information when considering land pur...
Colibri Real Estate - Texas Principles of Real Estate II
Interstate Land Sales Full Disclosure Act
This act establishes a nationwide program for the registration of subdivisions sold across state lines,
aiming to protect consumers by providing essential information when considering land purchases.
Farmer Mac
The Federal Agricultural Mortgage Corporation, a privately owned and publicly traded entity created by
Congress, which aims to establish a secondary market for agricultural mortgages and rural utility loans,
as well as portions of agriculture and rural development loans guaranteed by the USDA.
Rental Value
An estimation of the rental income a property can yield in a specific timeframe.
Interest
For buyers, this is the cost for borrowing money; for lenders, it refers to the income earned from loan
investments.
Principal
The original amount borrowed upon which interest payments are calculated.
Functional Obsolescence
The depreciation within property lines due to outdated systems such as plumbing, electrical, or heating,
as well as older lighting fixtures or architectural styles.
Replacement Cost
The value determined by the current expenses of constructing an equivalent of the property's
improvements.
Building Permits
,Official authorization from a government agency permitting the commencement of construction or
renovation on a building or improvement.
Land Lease
A lease agreement in which the landowner allows a tenant to use the land exclusively in exchange for
rent.
Depositor Insurance Fund (DIF)
This fund insures bank deposits and protects depositors, as well as facilitates the resolution of failed
banks.
Pre-Foreclosure
A period of grace before the foreclosure process begins.
Marketable Title
A title that is clear of defects, ensuring the buyer's confidence in not needing to defend the title's
validity.
12-month/30-day Proration
Calculating prorations based on a 360-day year, with each month assumed to have 30 days.
Eminent Domain
The government's right to acquire private property for public use, provided that just compensation is
paid to the owner.
Lien
A legal claim indicating that a debt is secured by a property.
Police Power
The inherent authority of the state to regulate activities to safeguard public health, safety, morality, and
welfare.
, Covenant
A promise included in a deed that benefits a sold property or preserves the value of a retained property
when adjacent land is sold.
Freddie Mac
A corporation that purchases conventional loans from financial institutions, pools these loans, and
issues mortgage-backed securities.
Retail Centers
Income-generating commercial properties of various sizes that have distinct functional categories,
typically anchored by a main tenant.
Shared Equity Mortgage
A mortgage arrangement where the lender shares in the appreciation of the mortgaged property upon
its sale.
Cash Equivalent Sale
A sale where the buyer utilizes a conventional loan to complete the purchase of a property.
Sale and Leaseback
An arrangement where the owner sells a property and subsequently leases it back from the buyer,
making the former owner the tenant.
Rent Roll
A record detailing the number of rental units within a property, their lease lengths, and the associated
monthly income from each unit.
Mortgage Fraud
A criminal act involving the intentional misrepresentation or omission of information on a mortgage loan
application to secure a loan or a larger loan than would have been approved with truthful information.
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