Free Real Estate Vocabulary Flashcards

Surface horizon (layer) of soil, the composition of which is effected by water which percolates through it.

A type of construction usually found in resort areas. The exterior framing of the building is shaped like the letter A.

A national organization composed of member state and local bar associations, which control the licensing of attorneys.

A specialized association of real estate brokers and salesmen who deal primarily in industrial properties. The goal of the association is to further the knowledge and effectiveness of its members.

An organization, composed of title insurance companies, which has adopted certain insurance policy forms to standardize coverage on a national basis.

See: Prime Tenant

Originated by the American Bankers Association, it is the number (usually in the upper right hand portion of the check) which identifies the bank upon which the check is drawn.

The voluntary and permanent cessation of use or enjoyment with no intention to resume or reclaim one’s possession or interest. May pertain to an easement of a property.

A recorded document, executed by those claiming a homestead exemption, giving up said homestead. Not applicable to all states and procedure must be according to local statutes.

A reduction or decrease. Commonly used to describe a decrease of assessed valuation of property for ad valorem taxes. When used regarding wills, it refers to a reduction of gifts to one or more beneficiaries when the assets left in the will are insufficient to pay all creditors and beneficiaries. There is usually a different formula used for debts than for priorities of gifts. See also: Contribution.

Soil having distinct A (upper), B (middle), and C (lower) horizons (layers of soil).

The horizontal axis of a curve; the vertical axis being the ordinate. The terms are used in connection with charts and graphs.