RE

Card Set Information

Author:
apraskopf
ID:
19750
Filename:
RE
Updated:
2010-05-18 23:40:57
Tags:
Things Know
Folders:

Description:
Broker's Exam
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  1. Appropriation-
    is the private taking and use of public property, such as water from a river or lake
  2. Condemnation
    The process in which eminent domain is executed
  3. Alienation (clause)
    • Means that the full loan is due and payable on demand
    • Also mean Conveyance
  4. Accession
    Addition to property by man or nature
  5. Accretion
    Addition from natural causes
  6. Alluvion
    Increase in earth from water
  7. Reliction
    Increase in earth from the withdrawal of water
  8. Avulsion
    Sudden loss of land from water
  9. Abrogation
    Rescinding or annulling a contract by mutual consent
  10. Hypothecate
    To place an item as collateral but to keep possession
  11. Pledge
    Deposit personal property as collateral
  12. FHA Title 1
    Only for Property improvement and mobile homes
  13. Age-life method or straight line method
    depreciation equal amounts of depreciation each year of economic life of building
  14. Capitatilzation
    converts income into value
  15. Documentary Transfer Tax
    55 cents per $500.00 less liens and ?
  16. Unruh-- Business
    Rumford Owners
    Holden Lending
  17. Article 7
    Maximum commissions for 1st trust deeds $730K, 2nd $720K
  18. Regulation Z
    • The right to rescind when the loan is secured by a lien against the consumer's existing principal dwelling.
    • Reg Z requires the lender/creditor to be responsible for furnishing Truth in Lending disclosures to the consumer
  19. When is a lease valid ?
    • LAND
    • Length of time
    • Amount of rent
    • Names of the parties
    • Description of the property
  20. Personal Property is generally?????
    movable
  21. What are Emblements?
    They are a tenant's annual crops and they are considered personal property

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