Free Real Estate Vocabulary Flashcards

An abbreviation for “Locus sigilli”, the place of the seal. At one time, individuals had seals, and documents were invalid unless the seal was affixed. Modernly, signatures are notarized and only corporations, in certain circumstances, must affix a seal.

(1) Work as opposed to materials. (2) A land measure of 177 1/7 acres. Used in Mexico.

An equitable doctrine used by the courts to bar a legal claim or prevent the assertion of a right because of undue delay, negligence, or failure to assert the claim or right.

Leave alone, let proceed. French expression made popular by Adam Smith, and used to describe a theory that free trade promotes a better business climate than government controls.

Load-bearing steel columns, which are filled with concrete (lally).

Steel support columns filled with concrete.

The word means both to split into thin layers and to combine thin layers, as well as to cover with a thin layer.

Wood such as plywood, which is constructed in sheets, or veneered wood, such as cheaper softwood, covered with a layer of more expensive hardwood, and glued together.

The earth’s surface extending downward to the center of the earth and upward infinitely into space.

An accumulation of land held for future use.

A certificate given by the federal government enabling one to obtain land by following certain registration processes. Used in the late 1800’s.

An installment contract for the sale of land. The seller (vendor) has legal title until paid in full. The buyer (vendee) has equitable title during the contract term.