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!

Par Value

(1) Concerning stock The face value of a share of stock (2) With reference to mortgages or trust deeds, the value of the mortgage …

Parapet

A short wall along the edge of a platform, such as a roof, terrace, etc, to protect the edge and divert rainwater

Parcel

A general term meaning any part or portion of land

Parcel 2 Easement

A colloquial term used to describe an appurtenant easement of the dominant tenement, because the easement is described in the legal description Usually, the …

Parcel Map

A map allowed in some states as a substitute for a subdivision map for 1 to 4 parcels (lots) with no common area The …

Parging

Coating cement on a masonry wall, usually for water proofing

Parish

A political division in Louisiana, comparable to a county

Parking

The acquisition of property by an exchange accommodation titleholder (EAT) to meet the requirements of a reverse exchange or build to suit exchange under …

Parking Ratio

The ratio of parking spaces to building (usually rentable) area Examples: Office use, 4 parking spaces per 1000 square feet; apartment use, 2 parking …

Parkway

(1) A highway through a park, usually restricting vehicles over a certain weight (2) A freeway or expressway

Parol

Verbal Usually refers to evidence in a court of law The “Parol Evidence Rule” governs when such evidence is admissible

Parol Evidence

Evidence concerning negotiationsor oral agreements not included in a writtencontract that alter or contradict the terms of thewritten contract