CA Real Estate Broker License
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| show | Written summary of the chain of title.
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| Acceleration Clause | show 🗑
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| Accession* | show 🗑
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| show | Gradual additions to land bordering a river or stream.
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| Acknowledgment | show 🗑
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| Acre | show 🗑
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| show | Authority that a principal actually confers on the agent.
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| show | For income tax purposes is determined by subtracting the adjusted cost basis from the exchange value of the property.
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| Actual Notice | show 🗑
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| show | According to value; property tax is an ad valorem tax.
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| Adjusted Cost Basis | show 🗑
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| show | For income tax purposes this is the selling price, minus the expenses of the sale.
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| show | Acquiring 5 years off exclusive, notorious & open possession of the property contrary to the best interests of the true owner, under a claim of right or color of title. A quiet title action would be used to perfect title for property taken this way.
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| show | An expressed contractual relationship which can be created in writing or orally in which a principal authorizes and empowers the agent to act on behalf of the principal in dealing with third parties.
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| Agency Disclosure Law | show 🗑
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| Alienate | show 🗑
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| show | A clause in a loan which requires the borrower to payoff the loan when title is transferred.
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| show | It's always a junior lien which is subordinate to, yet includes, the liens to which it is subordinated. Commonly used with land contracts.
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| show | The soil deposited by accretion.
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| show | Discloses the location of earthquake fault lines on a Map.
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| show | A home. Amenity properties are appraised by the Market Data Approach.
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| Americans With Disabilities Act | show 🗑
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| Amortization | show 🗑
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| show | Used to determine the monthly payment.
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| show | A promissory note which calls for periodic payment of both principal and interest.
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| show | A change in direction is often referred to by using an angle expressed by degrees, minutes and seconds.
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| Annual Net Income | show 🗑
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| show | The relative cost of credit expressed in percentage terms, disclosed under the Truth in Lending Law (Reg. Z).
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| Appraisal | show 🗑
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| Appropriation | show 🗑
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| show | Runs with the land for the benefit of the land; it is real property.
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| Appurtenant Easement | show 🗑
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| Arbitration Clause | show 🗑
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| Assessment Lien | show 🗑
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| Assessment Roll | show 🗑
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| show | Contracts are assignable unless they call for some personal quality of the promisor, or unless they expressly or implicitly negate the right to assign (e.g., a listing cannot be assigned).
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| Assumed Assessment Lien | show 🗑
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| Assumption | show 🗑
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| show | Property is held by court order as security for a possible judgement in a pending lawsuit. This lien is valid for 3 years.
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| Attorney-in-fact | show 🗑
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| show | Sudden violent tearing away of land by water.
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| Backfill | show 🗑
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| Ballon Note | show 🗑
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| Ballon Payment | show 🗑
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| show | 30 day month and 360 day year, used for proration and loan calculations.
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| Beneficiary | show 🗑
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| Beneficiary Statement* | show 🗑
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| Bilateral Contract | show 🗑
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| Blanket Encumbrance | show 🗑
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| show | Does not disclose that an agent is representing the seller. When advertising, the licensee MUST disclose that he is an agent. A salesperson's ad MUST name the BROKER.
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| Board Foot* | show 🗑
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| Bonds | show 🗑
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| show | Cash, other "unlike" property, or "mortgage relief" used to balance the equities of the properties in a 1031 tax deferred exchange.
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| show | The risk inherent in the loan.
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| Broker | show 🗑
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| show | A measurement of heat used in rating the capacity of heating systems.
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| show | Determines the contribution of the building to the value of the enitre property. Use the building residual technique when the unkown factor is the value of the building.
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| show | Set of California laws regulating business, such as the real estate industry.
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| show | The state purchases homes and sells them to CA veterans, using a land contract.
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| show | Everyone is capable of contracting, except: minors and mentally incompetent persons.
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| Comprehensive Zoning Laws | show 🗑
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| Spot Zoning Laws | show 🗑
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| show | Apply to a certain portion of the covered area or to certain uses.
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| Joint Tenancy | show 🗑
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| show | Held by 2 or more people witn NO right of survivorship, interest can be unequal. Unity: Possession only
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| show | Held in common by a married couple.
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| show | Easements can be terminated by: express release, legal proceedings, 5 yrs of non-use, merger of the estates, adverse possession, abandonment, destruction of the servient tenement, and excessive use.
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| Civil Rights Act of 1866 | show 🗑
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| show | Established the federal reserve system to assist in the operation of federally chartered commericial banks & authorized them to make real estate loans.
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| Federal Farm Loan Act of 1916 | show 🗑
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| show | Created the Reconstruction Finance Corporation, designed to provide liquidity for commercial banks.
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| show | Created the Federal Home Loan Bank Board & the 12 district banks. This system is critical to current member savings and loan associations.
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| show | Granted member savings and loan associations the authority to lend.
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| National Housing Act of 1934 | show 🗑
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| show | Known as the GI Bill Of Rights was established the Veterans Administration Loan guarantee program.
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| show | Step 1: Define the problem. Step 2: Reconcile/correlate the data. Step 3: Estimate the Value.
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| show | Letter Form: Less formal; maybe a simple letter summarizing info. Short Form: Checklist used primarily for lenders; most commonly used form. Narrative: most comprehensive & complete analysis.
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| D.U.S.T. | show 🗑
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| show | Political/Government Rregulations, Economic Influences, Environmental & Physical Characteristics, Social Ideals & Standards
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| show | aka Comparison/Substitution Approach & basis of the Market Data approach. Determined by the cost to acquire an equally desirable substitute property, because no prudent person will pay more for a property than others are willing to pay.
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| Principle of Highest and Best Use | show 🗑
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| Curable Depreciation | show 🗑
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| Incurable Depreciation | show 🗑
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| Economic/Social Obsolescence | show 🗑
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| show | Caused by events occuring within the property lines such as: wear and tear and deferred maintenance.
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| Internal(Functional) Obsolescence | show 🗑
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| show | Caused by external events (outside property lines).
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Created by:
missd2013
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