NC Real Estate Key Terms
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | An instrument transferring ownership of personal property
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| show | Personal property
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| Closing | show 🗑
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| Free market | show 🗑
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| show | The use of land that will preserve its utility and yield a net income in the form of rent that forms, when capitalized at the proper rate of interest, the highest present value of the land.
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| show | A physical characteristic of land describing the impossibility of relocating land from one place to another.
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| show | Structures, walls. roads and so on.
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| show | A physical characteristic of land meaning that land is a permanent commodity and cannot be destroyed.
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| show | Governmental controls (e.g. zoning laws, building codes) or private controls such as deeds restrictions, subdivision covenants that dictate how the land can be used.
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| Listing contract | show 🗑
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| show | A physical characteristic of land describing that land as a unique commodity.
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| show | A bilateral enforceable contract for the sale of real property.
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| Personal property | show 🗑
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| show | Personal property or chattels.
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| show | Land and everything that is permanently attached to land.
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| Real Property | show 🗑
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| show | A registered trademark of the National Association of REALTORS.
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| show | Land and everything permanently attached to land.
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| Scarcity | show 🗑
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| Situs | show 🗑
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| Specific performance | show 🗑
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