Barney Fletcher Pre- Licensing Vocabulary Questions And Answers
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Barney Fletcher
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Barney Fletcher
Barney Fletcher Pre- Licensing Vocabulary
Questions And Answers
Gross Lease Most common type of lease whereby the landlord pays the expenses of
ownership
Fraud willful deception or misrepresentation of facts
Fiduciary A position of trust and confidence
Express Contract One where all terms an...
Barney Fletcher Pre- Licensing Vocabulary
Questions And Answers
Gross Lease Most common type of lease whereby the landlord pays the expenses of
ownership
Fraud willful deception or misrepresentation of facts
Fiduciary A position of trust and confidence
Express Contract One where all terms and conditions are openly and explicitly stated and
agreed upon
executory contract A contract that has not yet been fully performed.
exclusive listing A written contract that gives a licensed real estate agent the exclusive
right to sell a property for a specified time.
Eviction The legal process of removing a tenant from rental property
, Barney Fletcher Pre- Licensing Vocabulary
Questions And Answers
estoppel A legal theory under which a person is barred from asserting or denying a fact
because of the person's previous acts or words.
escrow Funds, property, or other things of value left in trust to a neutral third party and
released upon fulfillment of certain conditions, or by agreement of the parties.
escalation clause clause in a lease providing for the adjustment of rent based on specified
indexes or circumstances
Earnest Money A deposit made to a seller showing the buyer's good faith in a transaction.
Duress the use of threats or physical harm to force a person to do something against his
will
Dual Agency representation of two or more parties in a transaction by the same agent
covenant a promise to legal validity
, Barney Fletcher Pre- Licensing Vocabulary
Questions And Answers
Commingle to combine escrow funds in the same account with personal or business funds
Caveat Emptor let the buyer beware
Assignment The act of transferring to another all or part of one's rights arising under a
contract.
Attorney-In-Fact the person receiving the power of attorney
Bilateral Contract a contract where both parties are obligated to perform
blockbusting Illegal practice of inducing homeowners to sell their properties by telling
them that a certain people of a certain race, national origin or religion are moving into the area
Agent a person who acts or does business for another
Addendum added to a contract before the contract is binding
, Barney Fletcher Pre- Licensing Vocabulary
Questions And Answers
Dower and Curtesy The legal right or interest that one spouse has in the property of the
other spouse.
Downzoning Rezoning of land from a higher-density use to a lower-density use
Easement the right to use land for a specific and limited purpose
Eminent Domain the right of government to take private property for public use
Enroachment intrusion on a person's territory, rights
Equitable Lien Arises out of an agreement that some particular property shall be used as
security for a debt or obligation. Examples: vendee's lien, vendor's lien
Equitable Title The interest held by a vendee under a contract for deed or an installment
contract; the equitable right to obtain absolute ownership to property when legal title is held in
another's name.
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