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..
Category : C
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..
Definition: An independent special district created pursuant to Florida law to service long-term detailed needs of its community. A CDD constructs, operates, and maintains communitywide services and infrastructure for the benefits of the residents. CDD’s provide an alternate way to fund and construct capital infrastructure to service projected growth. Pronunciation: \kə-ˈmyü-nə-tē\ \di-ˈve-ləp-mənt, dē-\ \ˈdis-(ˌ)trikt\ Used in a ..
Definition: Real property acquired during a marriage. (FL is not a community property state). Pronunciation: \kə-ˈmyü-nə-tē\ \ˈprä-pər-tē\ Used in a Sentence: Because Florida is not a community property state, the husband could not claim a share of his wife’s business..