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!

Implied

Something apparent from the circumstances, rather than from direct action or communication

Implied Agency

An agency which is not expressly set out but must be deduced from the circumstances and other facts It is an actual agency as …

Implied by Law

Required by law to be part of an agreement and treated by a court as part of an agreement even if it contradicts the …

Implied contract

A contract under which the agreement of the parties is demonstrated by their acts and conduct

Implied grant

A method of creating an easement One party may be using another’s property for the benefit of both parties

Implied Listing

An implied contract (see which) which would be governed by contract law, including the statute of frauds

Implied Notice

A form of actual notice not expressly given For example: “A” purchases property from “B” “C” is in possession “A” will have implied notice …

Implied Warranty

A warranty given by law or circumstances rather than by words of the seller See also: Express Warranty

Implied Warranty of Habitability

An implied guarantee that the property is safe and fit for human habitation; treated by law as an implicit provision in every residential lease, …

Impound Account

Account held by a lender for payment of taxes, insurance, or other periodic debts against real property The mortgagor or trustor pays a portion …

Impound Disbursements

The payment of escrowed funds to pay taxes and insurance when due

Improved Land

Land having either on-site improvements, off-site improvements, or both