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!

Participation Loan

See: Participation

Participation Plan

A loan when the buyer andanother investor (or seller, lender, etc) enter intoa partnership, with the buyer paying an equityshare in lieu of interest …

Partition

The division of cotenants’ interests in real property when the parties do not all voluntarily agree to terminate the co-ownership; takes place through court …

Partnership

An association of two or more individuals who carry on a continuing business for profit as co-owners Under the law, a partnership is regarded …

Partnership Property

The property partners bringinto a business at the outset, or later acquirefor the business; property owned as tenants inpartnership See: Tenancy in Partnership

Party Wall

A wall erected on a property boundary as a common support to structures on both sides, which are under different ownerships

Party wall easement

A wall that is located on or at a boundary line between two adjoining parcels for the use of the owners of both properties

Pass Through

(1) A method of escalation found in modern leases whereby the tenant directly pays increases in operating expenses of the property (2) A method …

Pass Through Certificate

A mortgage backed certificate under which interest from the mortgage pool is paid directly to the certificate holder

Pass-through Securitie

Mortgage backedsecurities issued by Ginnie Mae, which payinterest and principal payments on a monthlybasis

Passive Income

Defined in Section 469 as earningsderived from any trade or business or incomeproducingactivity in which the taxpayer doesnot materially participate

Patent

Instrument of conveyance of title to public (government) land