Definition: A person in a position of trust and confidence with respect to another person. Pronunciation: \fə-ˈdü-shē-ˌer-ē\ Used in a Sentence: A fiduciary’s responsibilities are both ethical ..
Category : F
Definition: A decision rendered by the FREC. Pronunciation: \ˈfī-nəl\ \ˈȯr-dər\ Used in a Sentence: The FREC issued a final order at the conclusion of the informa..
Definition: A mortgage on a property that is superior in right to any other mortgage, the first mortgage recorded. Pronunciation: Used in a Sentence: When paying off mortgage debt, the first mortgage must be paid before any other ..
Definition: An article that was once personal property bu has been so affixed to the real estate it has become real property (such as tile, track lighting, fencing) Pronunciation: \ˈfiks-chər\ Used in a Sentence: Once the wood flooring was installed it was considered a fixture in ..
Definition: A lot characterized by a long access road or driveway leading back to the main part of the lot. Pronunciation: Used in a Sentence: When we looked at the map we could see that the parcel of land was a..
Definition: What a sales associate does after a sale to maintain customer contact and goodwill. Pronunciation: \ˈfä-lō-ˌəp\ Used in a Sentence: A few weeks after the sale the agent did a follow-up with the buyers to make sure there were no..
Definition: A legal procedure whereby property used as security for a debt is sold to satisfy the debt owing to default in payment of the mortgage note or default in other terms of the mortgage document. Pronunciation: \(ˌ)fȯr-ˈklō-zhər\ Used in a Sentence: Once the owner stopped making mortgage payments, the lender started foreclosure proceedings ..
Definition: An outline of the charges against a licensee that must be addressed within the statutory time frame. Pronunciation: \ˈfȯr-məl\ \kəm-ˈplānt\ Used in a Sentence: The licensee received a formal complaint that detailed the charges ag..
Definition: Any agreement that contains all the essentials of a contract, including that it is in writing and under seal, a contract that depends on a particular form. Pronunciation: \ˈfȯr-məl\ \ˈkän-ˌtrakt\ Used in a Sentence: We had a formal contract with the broker to sell our..
Definition: A session in which testimony and evidence are presented, especially before an official. Pronunciation: \ˈfȯr-məl\ \ˈhir-iŋ\ Used in a Sentence: The licensee requested a formal hearing to review and rule on the dispute..