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!

Inadequate Improvement

See: Underimprovement

Incentive Zoning

A system by which developers receive zoning incentives on the condition that specific physical, social, or cultural benefits are provided to the community

Inchoate

Incomplete; begun but not completed; contingent

Inchoate Dower

The dower interest of a wife during the life of her husband May vest at his death

Inchoate Instrument

An unrecorded instrument (such as a deed) which is valid only between the parties and those having actual notice; but not against “the world” …

Inchoate right

Incomplete right, such as a wife’s dower interest in her husband’s property during his life

Incinerator

A heavily insulated, furnace-like device for burning rubbish, giving off a minimum of heat and smoke, and burning the rubbish more completely than an …

Income

Generally, any increase in the assets of a person or corporation caused by labor, sales, or return on invested funds May be different for …

Income approach

The process of estimating the value of an income-producing property by capitalization of the annual net income expected to be produced by the property …

Income Averaging

A method of figuring income tax by paying tax on the average income per year for the past five years For example: A, a …

Income Capitalization Approach

Estimating value (v) by dividing Net Operating Income (NOI) by an overall capitalization rate R0 NOI ÷ R0 = v See: Overall Capitalization Rate

Income Participation

See: Participation