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..
Definition: A recently sold property similar to one being evaluated. Also called a comparable or comp. Pronunciation: \ˈkäm-p(ə-)rə-bəl \ \ˈprä-pər-tē\ Used in a Sentence: The sales agent looked for a comparable property in the nei..
Definition: An informal estimate of market value performed by a real estate licensee for the seller to assist in arriving at an appropriate listing price. If working with a buyer giving an informal estimate of market value to help arrive at an appropriate offering price. Pronunciation: \kəm-ˈper-tiv\ \ˈmär-kət\ \ə-ˈna-lə-səs\ Used in a Sentence: The agent provided a comparative ..
Definition: Anything of value or a valuable consideration, directly or indirectly paid, promised, or expected to be paid or received for a service provided. Pronunciation: \ˌkäm-pən-ˈsā-shən \ Used in a Sentence: The builder offered a reduced price for the upgraded flooring as compensation for ..
Definition: A party to a contract who possesses the legal capacity to enter into a binding contract. Pronunciation: \ˈkäm-pə-tənt\ Used in a Sentence: The elderly owner was deemed competent to sign the contract for the sale of his..
Definition: A person who makes a formal charge in court saying that someone has done something wrong. (See also plaintiff). Pronunciation: \kəm-ˈplā-nənt\ Used in a Sentence: The complainant charged that the defendant had broken the ironclad contract that both h..
Definition: A formal charge or allegation. Pronunciation: \kəm-ˈplānt\ Used in a Sentence: A copy of the complaint was sent to the subject’s..
Definition: A declaration of policies for the future physical development of an area. (Also called a master plan). Pronunciation: \ˌkäm-pri-ˈhen(t)-siv, -prē-\ Used in a Sentence: The comprehensive plan for the area allowed for the building of a new hospital in t..
Definition: To hide something from sight or to keep something secret. Pronunciation: \kən–ˈsēl-mənt\ Used in a Sentence: The broker could be charged with concealment for not revealing that the area was prone to..