The earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached, is know as
Real Estate
Movable objects, which are not considered real estate, are known as
Personal Property
The permanent right to use another's land for the benefit of a neighboring parcel is known as
An Appurtenant Easement- an easement for adjacent properties or neighbors, which run with the land. (Think of the A's - Appurtenant = Adjacent of Another)
The ownership of property by one person only is known as
severalty
A condensed history of title to a particular piece of real estate, including a summary of the original grant, and all subsequent conveyances and encumbrances affecting the property, is known as
abstract of title
The illegal practice of inducing homeowners to sell their properties by making representations about the prospective entry of persons of a certain race/national origin into the neighborhood is also called
Blockbusting- trying to induce or force people to move out of their neighborhood or BLOCK
The term for something that grants the right to use another's land for a specific purpose, and is considered an incorporeal interest in land is
Easement
The clauses in a deed that limit the future uses of a property are known as
deed restrictions
The loss of value in any property, regardless of the specific cause, in an appraisal, is known as
depreciation
A person who has complete control over a parcel of real estate is said to own a
fee simple estate
The law that requires real estate contracts to be in writing to be enforceable is the
statue of frauds
The effort that brings about the desired result in a real estate sale is known as
procuring cause
A naturally occurring gas that is suspected of causing lung cancer is known as
radon
A claim or liability attached to a property is called
an encumbrance- Restrictions, liens, and buyer's claims are all forms of encumbrances
In an appurtenant easement, the party that benefits is known as the
dominant tenement
An encumbrance that affects the title, usually related to money, is known as
a lien
A recorded legal document that gives constructive notice that an action affecting a certain property has been filed in court is called
lis pendens- "litigation pending
This document that defines the relationship between the real estate firm and the seller is the
listing agreement
The rights of a landowner to use waters of an adjacent stream or river are known as
riparian rights- River and Riparian
The rights of a landowner to use waters of an adjacent lake or ocean are known as
littoral rights- Lake and Littoral
A claim or interest revealed by a title search is called a
cloud on title
When the amortized payment of a mortgage remains constant over the period of the loan but leaves an outstanding balance to be paid at the end, this payment is called
a balloon payment
The process in which boundaries are measured and land areas determined is called
a survey
An estimate of the value of something, usually a property, is known as
an appraisal
A lien placed on the property without the consent of the owner is known as a(n)
involuntary lien
This type of lien is created by law. It is known as
a statutory lien
The type of lien that is secured by specific property and only affects that property is known as
a specific lien
The system established in 1785 by the U.S. government, which describes land with principal meridians and base lines, is called
rectangular survey system
A listing contract under which the broker's commission is contingent upon his producing a ready, willing, and able buyer before the property is sold by the seller or another broker is known as
an open listing
A portion of a township under the rectangular survey system, which is a square with mile-long sides, is called a
section
The type of easement that is necessary for another person to enter his own land by going through another's property is known as
an easement by necessity
A contract in which all the parties have fulfilled all their promises and performed the contract is known as
an executed contract
An oral contract in which the parties state the contract's terms and express their intentions in words is known as
an expressed contract
The type of depreciation caused by outside factors, which are external to the property, is known as
external obsolescence
The benefit, interest or value that induces a promise, and the glue that binds a contract, is known as
consideration
The illegal act of a real estate broker who places his client's or customer's funds with his own funds is known as
commingling
The failure to perform provisions of a contract without legal excuse is known as
breach of contract
A refusal to make reasonable accommodations in rules, policies, practices, or services when such accommodations may be necessary to afford such person equal opportunity to use and enjoy a dwelling is one definition of
discrimination
The easement that is not created for the benefit of the land owned by the owner of the easement, but that attaches personally to the easement owner is known as an
easement in gross
A lease that goes from month to month is known as
an estate from period to period
The type of lease, which is for an indefinite amount of time may be cancelled by the landlord or tenant at any time is known as
estate at will
A situation in which the tenant's lease has expired and the tenant is no longer paying rent, but is living on the property is known as
estate at sufferance
A mortgage clause which states that, should the borrower sell the property, the entire balance of her mortgage would be due immediately, is known as
the due-on-sale clause
The legal procedure in which property is pledged as security is sold to satisfy the debt is known as
foreclosure
A mineral that was once used as insulation, and is now considered harmful if disturbed or exposed, is
asbestos
The sealing off of disintegrating asbestos is one method of asbestos control. This is known as
encapsulation
The environmental hazard found mostly in electrical equipment is known as
PCBs
The clause in a mortgage that can be enforced to make the entire debt due immediately if the mortgagor defaults on the loan is the
acceleration clause
A person who is authorized to represent another is the
agent
The remnant of an estate that has been conveyed to take effect and be enjoyed after the termination of a prior estate, as when an owner conveys a life estate to one party and the remainder to another, is called
the remainder estate
A deed that contains no warranties, but in which the grantor does give up his own rights or claims, is known as
a quitclaim deed
If one creditor is substituted for another, with the substituted person succeeding to the legal rights of the original creditor, this is known as
subrogation
The joint ownership that is recognized in some states, of property acquired by husband and wife during marriage, is known as
tenancy by the entirety
A type of value estimate approach, in which value equals the estimated land value plus reproduction costs of any improvements, after the depreciation costs have been subtracted, is called the
cost approach
This appraisal approach estimates the value of the present worth of the future rights to the income the property generates by converting the net income of the property into a value. This is known as
income approach
An estimate based on an analysis of comparable sales and other pertinent market data is known as
market value
If a landlord breaches a lease by allowing the property to fall into severe disrepair, which causes her tenant to leave the property because it is uninhabitable, this is known as
constructive eviction
The type of lease that allows for the rent to be increased or decreased periodically based on changes in the government cost-of-living index is known as a
index lease
The type of lease that allows for the step-up of rent payments and is used to attract tenants to difficult-to-rent properties is called a
graduated lease
In a lease, the lessor's interest is known as the
leased fee interest
A court order that authorizes and directs the proper officer of the court to sell the property of a defendant as required by the judgment or decree of the court is known as
a writ of execution
An action taken by a creditor in which the court simply retains custody of the property while a lawsuit is being decided is known as
a writ of attachment
The buyer or purchaser under a land contract is also known as the
vendee
A type of junior mortgage in which the existing mortgage amount, plus any additional purchase funds, is loaned to a buyer by the seller is known as
wraparound mortgage
The seller under a land contract is also known as
the vendor
A written document that provides for the transfer of title of property owned by the deceased is a(n)
will
An exercise of police power by a municipality to regulate and control the character and use of the property is called a(n)
zoning ordinance
A one-sided contract is known as a
unilateral contract
The absolute ownership of a unit in a multi-unit building, based on a legal description of the airspace the unit actually occupies, is a
condominium
If a person lives in an apartment, and owns stock in the corporation possessing the proprietary lease, this is known as a
cooperative
With this type of contract, two or more parties are bound to act as described in the contract.This is called a
bilateral contract
A term used to refer to any document that transfers title to real property is known as
conveyance
A new offer made in response to an offer received is a(n)
counteroffer
The parts of the property that are necessary or convenient to the existence, maintenance and safety of a condominium and are normally in common use by all of the condo residents are known as
common elements
The appraisal principle that states that the value of any component of a property is what it gives to the value of the whole or what its absence detracts from the whole is called
contribution
The process of changing a property's status from rental to condominium is known as
conversion
A person who has made and left a valid will is known as being
testate
A person who dies without leaving a will is known as having died
intestate
The appraisal principle that follows the interrelationship of the supply of and demand for real estate is called
supply and demand
The return of the rights of the possession and quiet enjoyment to the lessor at the expiration of a lease is known as
reversionary right
The remnant of an estate that the grantor holds after he's granted a life estate to another person, if the estate will return to the grantor, is called
reversion
A payment by a tenant, held by a landlord during the lease term, is called
security deposit
The possession of land by one who claims to own at least an estate for life is known as
seisin
The grantor guarantees that the grantee's title is good against anyone who challenges the grantee's ownership is called
covenant of quiet enjoyment
In this situation, the grantor promises to obtain and deliver any instrument needed to make the title good is the
convenant of further assurance
A situation in which the grantor warrants that the property is free from liens and encumbrances is
covenant against encumbrances
The situation in which a grantor promises that if at any time in the future the title fails, he will be liable, is known as
covenant of warranty forever
A point, line, or surface from which elevations are measured is known as the
datum
he type of description uses the boundaries and measurements of the land in question is known as what type of system?
metes-and-bounds
The type of survey system that is based on sets of intersecting lines, which are principal meridians and base lines, is known as
government survey
The illegal activity that occurs when competing brokers get together to set commission rates is called
price-fixing
This illegal activity is a conspiracy to boycott a firm and drive it out of business. This is known as
group boycotts
The type of loan that allows, at the end of the term, that the entire debt is paid off, is known as a
fully amortized loan
The type of plan for a loan calls for payments of interest only, with the principal to be paid in full at the end of the loan term is called a(n)
straight loan
The type of mortgage that shifts the risk or reward of changing interest rates from the lender to the borrower is called
an adjustable rate mortgage
The originally scheduled number of years for a loan is also called the
term
One of the two types of encumbrances, under which restrictions and easements fall, is known as
usage encumbrance
A lien placed against a specific property by workers or suppliers who have not been paid for labor or materials used in construction or improvements to the property is known as
a mechanic's lien
The type of lien which takes priority over all other liens, and has the first claim against a property is called
a tax lien
Addition to the land through natural causes, usually by a change in water flow.
accretion