Definition: the money or a promise of something that can be measured in terms of money Pronunciation: \ˈval-yə-bəl\ \kən-ˌsi-də-ˈrā-shən\ Used in a Sentence: Valuable consideration is always sufficient to support a..
Definition: the worth of something Pronunciation: \ˈval-(ˌ)yü\ Used in a Sentence: We sold the home for less than its f..
Definition: an agreement for the tenant to pay specified rent increases based on a predetermined index (CPI) at set future dates Pronunciation: \ˈver-ē-ə-bəl\ \ˈlēs\ Used in a Sentence: We signed a variable lease agreement on the off..
Definition: an exception to zoning regulations or ordinances granted to relieve a hardship Pronunciation: \ˈver-ē-ən(t)s\ Used in a Sentence: He had to get a variance to add a garage on to ..
Definition: the buyer or purchaser of real property in an agreement of sale Pronunciation: \ven-ˈdē\ Used in a Sentence: The vendee put 20% down towards the purchase of ..
Definition: the seller of real property in an agreement of sale Pronunciation: \ˈven-dər\ Used in a Sentence: The vendor accepted the offer on the house and signed a..
Definition: a claim against property giving the seller the right to hold the property as security for any unpaid purchase money Pronunciation: \ˈven-dər\ \ˈlēn\ Used in a..
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..
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..