Free Real Estate Vocabulary Flashcards

Pass the real exam by knowing all of the vital real estate vocabulary terms that are crucial to passing the real estate licensing examination. Study all of the important real estate glossary terms and definitions, and pass with confidence!

L.S.

An abbreviation for “Locus sigilli”, the place of the seal At one time, individuals had seals, and documents were invalid unless the seal was …

Labor

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

Laches

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

Laissez-Faire

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

Lally Columns

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

LallyTM Columns

Steel support columns filled with concrete

Laminate

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

Laminated Wood

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

Land

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

Land Bank

An accumulation of land held for future use

Land Certificate

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

Land Contract

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