Definition: Any defect, valid claim, or encumbrance that serves to weaken the title or restrict an owner’s rights. Pronunciation: Used in a Sentence: The title search revealed there is a cloud on the title from 5 ..
Definition: Title to real property held by two or more persons at the same time. Also called concurrent ownership or multiple ownership. Pronunciation: \ˈkō-ō-nər-ˌship\ Used in a Sentence: Mary and Jim had a co-ownerhip of ..
Definition: Real or personal property pledged as security on a debt. Pronunciation: \kə-ˈla-t(ə-)rəl\ Used in a Sentence: The adjoining property was pledged as collateral for..
Definition: Secret agreement or cooperation, especially for an illegal or deceitful purpose Pronunciation: \kə-ˈlü-zhən\ Used in a Sentence: The company was acting in collusion with manufacturers to infla..
Definition: A condition in which ownership of real property appears to be good but actually is not good due to a defect. Pronunciation: Used in a Sentence: The sale of the property did not go through due to the color..
Definition: A classification of real estate that includes income-producing properties such as shopping centers, gas stations, office buildings, restaurants and parking lots. Usually, must be zoned for business purposes. Pronunciation: \kə-ˈmər-shəl\ Used in a Sentence: He is interested in buying some commercial real estate as an i..
Definition: To combine money or a deposit with personal funds. Pronunciation: \kə-ˈmiŋ-gəl, kä-\ Used in a Sentence: It is against FREC regulations to commingle earnest money and perso..
Definition: A percentage of the money received paid to a broker and/or sales associate for successfully concluding a real estate transaction. Pronunciation: \kə-ˈmi-shən\ Used in a Sentence: The broker earned 6% commission from the sale of the..
Definition: The parts of a multiple-ownership property not included in each unit; those parts in which each unit owner holds an undivided interest. Pronunciation: \ˈkä-mən\\ˈel-ə-mənt-s\ Used in a Sentence: The pool area and game room are some of the common elements in the condo ..
Definition: Judge-made law established in decrees and judgement of the courts (case law), as opposed to statutory law. Pronunciation: \ˈkä-mən\ Used in a Sentence: The judge applied the common law as first set down in an eighteenth century tress..