Definition: a contract that because of the manner or method in which it was brought about, one of the parties is allowed to void contractual duties Pronunciation: \ˈvȯi-də-bəl\ Used in a Sentence: A minor’s contract is voidable because the minor can choose to void the..
Category : V
Definition: the license status that results when a licensee has met all of the requirements for licensure but chooses not to engage in the real estate business and has requested the license be put in this status. Pronunciation: \ˈvä-lən-ˌter-ē\ \(ˌ)i-ˈnak-tiv\ Used in a Sentence: Mary placed her license in voluntary inactive status while she was ..
Definition: claims imposed against real property with the consent of the owner Pronunciation: \ˈvä-lən-ˌter-ē\ \ˈlēn\ Used in a Sentence: A second mortgage is a type of volun..
Definition: the licensee requests that the DBPR cancel the license Pronunciation: \ˈvä-lən-ˌter-ē\ \ri-ˈliŋ-kwish-mənt\ Used in a Sentence: When Sam decided to retire he notified the DBPR to voluntarily relinquish hi..