Definition: Title to property is held by one person. Also called sole ownership. Pronunciation: \i-ˈstāt\\ˈsev-rəl-tē, ˈse-və-\ Used in a Sentence: Because there is only one owner the property is considered an estate in ..
Category : E
Definition: Real property owned by a corporation sole. Pronunciation: \i-ˈstāt\ Used in a Sentence: The church and rectory buildings and property are considered an estat..
Definition: A future interest in real estate that can become effective only upon the termination of the prior estate. Pronunciation: \i-ˈstāt\ \ri-ˈmān-dər\ Used in a..
Definition: A legal doctrine barring people from alleging or denying a fact because of one’s own previous actions or words to the contrary. Pronunciation: \e-ˈstä-pəl\ Used in a..
Definition: A legal instrument implemented by a mortgagor detailing the exact unpaid balance of a mortgage, the current rate of interest and the date to which interest has been paid. It bars the signer from making a claim inconsistent with the instrument. Pronunciation: \e-ˈstä-pəl\ \(ˌ)sər-ˈti-fi-kət\ Used in a Sentence: When the bank sold off the mortgage, the ..
Definition: A system of moral obligations, rules and standards of conduct that a member of a profession owes to the public or other members. Pronunciation: \ˈe-thiks\ Used in a Sentence: Good ethics is concerned with fidelity, integrity and competen..
Definition: Material that is presented to a court of law to help find the truth about something. Pronunciation: \ˈe-və-dən(t)s, -və-ˌden(t)s\ Used in a Sentence: The signed document was evidence that the buyer knew the terms of..
Definition: The right of an owner to keep others from tresspassing by entering or using the property without permission. Pronunciation: \iks-ˈklü-zhən\ Used in a Sentence: The right of excusion allowed the farmer to put a fence around his property to keep p..
Definition: A written listing agreement giving a sole agent the right to sell a property for a specified time. Pronunciation: \iks-ˈklü-siv, -ziv\ \ˈā-jən(t)-sē\ Used in a Sentence: The seller signed an exclusive-agency listing contract with the broker for a 6 month peri..
Definition: A written agreement given to one real estate broker as the sole agent for the sale of an owner’s property, with the commission going to that broker regardless of who actually sells the property during the contract period. Pronunciation: \iks-ˈklü-siv, -ziv\ Used in a Sentence: Because they had an exclusive-right-of-sale listing the broker still ..