Definition: any interest or estate in land, including leaseholds, subleaseholds, business opportunities and enterprises, and mineral rights; real estate Pronunciation: Used in a Sentence: The law treats real property and personal property di..
Category : R
Definition: a real estate broker who is a member of a local board of REALTORS® and is affiliated with the state association (Florida REALTORS®) and the National Association of REALTORS® Pronunciation: \ˈrē(-ə)l-tər, -ˌtȯr\ Used in a Sentence: Our broker was able to use the REALTOR® designation since he was a memb..
Definition: land and everything permanently affixed thereto Pronunciation: \ˈrē(-ə)l-tē\ Used in a Sentence: Real estate and real property are also terms f..
Definition: a fair length of time that may be allowed or required for an act to be completed, considering the nature of the act and the surrounding circumstances Pronunciation: Used in a Sentence: A lender’s decision to exercise a due-on-sale clause must be made within a reasonable time after the event that triggers t..
Definition: an independent party appointed by a court to hold in trust and administer property under litigation Pronunciation: \ri-ˈsē-vər\ Used in a Sentence: A receiver was appointed by the court when the building owner filed for bankrupt..
Definition: a provision in a mortgage, related to income-producing property, that is designed to require that income derived shall be used to make mortgage payments in the event the borrower defaults. Pronunciation: \ri-ˈsē-vər-ˌship\ \ˈklȯz\ Used in a Sentence: The receivership clause in the mortgage allowed the bank to continue to receive payments from the property even ..
Definition: an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states Pronunciation: \ˌre-sə-ˈprä-s(ə-)tē\ Used in a Sentence: There is no reciprocity between Florida and any ot..
Definition: a determination by an administrative law judge that includes findings and conclusions, as well as the recommended penalty, if any, required by law or agency rule Pronunciation: \ˌre-kə-ˈmend\ \ˈȯr-dər\ Used in a Sentence: After reviewing all of the facts of the case, the administrative judge issued a recommen..
Definition: to place any document or instrument affecting title or an interest in real property in the public records of the county in which the property is located Pronunciation: \ri-ˈkȯrd\ Used in a Sentence: Several of the legal instruments signed at closing should be recorded to give constructive notice of new ownership and debt ..
Definition: the assigned period of time over which property is depreciated for tax purposes Pronunciation: \ri-ˈkə-və-rē\ \ˈpir-ē-əd\ Used in a Sentence: We were given a 5 year recovery period on our..