Bilateral
What is a type of contract in which two parties are legally bound to act?
Functional Obsolence
What is one kind of real property depreciation caused by poor design?
Grantee
What is the name of the party who aquires the title to real property in a deed?
Biennial
What is one word that indicates how often a PA salesperson's license is required to be renewed?
Testate
What is the condition called when a person dies with a will
Liz Pendens
What is the recorded legal notice that shows existing court action against real property?
Capitalization
What is the process of estimating the value of real property by using the rate of return and the annual net income?
.072
What is the decimal form of seventy two mills?
Open End Mortgage
What is the type of mortgage in which the mortgagor could receive future advances by increasing the debt up to its original amount?
Redlining
What is the act called of denying mortgages to applicants from a certain area based on factors other than financial qualification?
$2800
How much money would be charged as the result of a four point origination fee on a $95,000 property on which there is a $70,000 mortgage?
Statue of Frauds
What is the name of the state law that requires agreements of sale to be in writing?
Constructive Eviction
What is the name of the process by which a tenant is allowed to abandon a leased property without legal consequence if the landlord causes that leased property to become uninhabitable?
Usury
What is the practice of charging a rate of interest that is higher than is allowed by state law?
Title Theory
The lender is the owner of the mortgaged real estate according to what theory of mortgaged law?
Suit of Action to Quiet Title
What is filed in court to settle a cloud on the title and determine the ownership of real property?
Satisfaction of Mortgage
What recorded document indicates that the mortgage note has been paid in full?
Debit
What is any amount of money that is charged to someone on a closing statement and is required to be paid?
Easement In Gross
The right of way held by a railroad is an example of what type of easement?
Avulsion
The unexpected and dramatic loss of land as the result of an earthquake is represented by what real estate term?
43,560
How many square feet are in a acre of land
Ad Valorem
What is the type of real estate tax that is levied according to value?
Blue Sky Laws
State and federal laws that regulate real estate when it is sold as a security are known by what general name?
Chattels, Personalty
List two terms that means personal property
Abstract Of Title
What is the list of recorded documents on a particular real property called?