Definition: Insufficient attention to duties and responsibilities by those who know, or should know, what is required of them. Pronunciation: \ˈkəl-pə-bəl\ \ˈne-gli-jən(t)s\ Used in a Sentence: The broker was charged with culpable negligence for not managing his agents..
Definition: When the correction of a defect results in as much added value as the cost to correct the defect. Pronunciation: \ˈkyu̇r-ə-bəl\ \di-ˌprē-shē-ˈā-shən\ Used in a Sentence: The repair of the cracked driveway was considered a curable depreciation because the owners were able to recoup the costs by getting a higher price for th..
Definition: One with whom the broker or sales associate hopes to be successful in achieving the purpose of employment. Per Section 475.01, F.S., a member of the public who is or may be a buyer or seller of real property and may or may not be represented by a real estate licensee in an authorized brokerage ..
Definition: Losses sustained as a result of a breach of contract or some other cause. See also liquidated damages and unliquidated damages. Pronunciation: \ˈda-mij-iz\ Used in a Sentence: When the buyer defaulted on the contract the seller sued for damages..
Definition: As a verb, to make an entry on the left of charge side of an account; as a noun, a charge or expense. Pronunciation: \ˈde-bət\ Used in a Sentence: The purchase price of the property is a debit to the buyer on the closing ..
Definition: A dead person. Pronunciation: \di-ˈsē-dənt\ Used in a Sentence: There is a tax on the estate of the..
Definition: The legal document that the developer of a condominium must file and record in order to establish a condominium under state law. Pronunciation: \ˌde-klə-ˈrā-shən\ \ˌkän-də-ˈmi-nē-əm\ Used in a Sentence: The developer filed the declaration of condominium with the county before he started..
Definition: A course of action declaring rights claimed under a contract or statute intended to prevent loss or to guide performance by the party or parties affected. Pronunciation: \di-ˈkler -ə-ˌtȯr-ē\\ˈjəj-mənt\ Used in a Sentence: The broker felt he deserved a portion of the disputed funds so he filed for a declaratory ..
Definition: An offer of land for some public use, by an owner, together with acceptance by or on behalf of the public. Pronunciation: \ˌde-di-ˈkā-shən\ Used in a Sentence: The new park was made available by the dedication of the land from a local..
Definition: A type of conveyance; a written instrument to transfer title to real property from one party to another. Pronunciation: \ˈdēd\ Used in a Sentence: Once the sale was complete, the deed was transferred to the ..