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!

Abutting

The joining, reaching, or touching of adjoining land Abutting parcels of land have a common boundary

Abutting Owner

One whose land is contiguous to (abuts) a public right of way

Abutting Property

Directly contiguous properties, sharing at least one common boundary

Accelerated Cost Recovery System (Acrs)

A portion of the Economic Recovery Act of 1981 which allowed shorter depreciation of both real and personal property, did not distinguish between new …

Accelerated depreciation

A method of calculating for tax purposes the depreciation of income property at a faster rate than would be achieved using the straight-line method …

Acceleration

The immediate right to possession of a remainder interest upon the failure of a life estate

Acceleration clause

A provision in a written mortgage, note, bond, or conditional sales contract that in the event of default, the whole amount of the principal …

Acceptance

Voluntary agreement to an offer (1) Real property acceptance must be unequivocal See: Mirror Image Rule (2) Acceptance for goods, according to the Uniform …

Access Right

A right to ingress and egress to and from one’s property May be express or implied

Accessibility

The location of a site in terms of how easily it may be reached by customers, employees, carriers, and others necessary to the intended …

Accessible

A residential building of more than one unit that can be entered and used by people who are physically handicapped

Accession

Title to improvements or additions to real property is acquired as a result of the accretion of alluvial deposits along the banks of streams …