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!

Accountability

In an agency relationship, the agent’s fiduciary duty to account to the principal

Accounts Payable

Money owing The term is generally used in business rather than personal finances Usually represents services or materials, such as wood, bricks, payment of …

Accounts Receivable

Money owed to a business for goods or services Accounts receivable may be sold or borrowed against Many times the sale of accounts receivable …

Accredited Land Consultant

A designation conferred by the REALTORS Land Institute See: REALTORS LAND INSTITUTE

Accretion

An increase or addition to land by the deposit of sand or soil washed up naturally from a river, lake, or sea

Accrual Accounting

An accounting method under which income and expenses are charged to the periods for which they are applicable, rather than when payment is received …

Accrue

To grow or mature

Accrued depreciation

The actual depreciation that has occurred to a property at any given date; the difference between the cost of replacement new (as of the …

Accrued Interest

Interest on a note, bond, etc which has been earned but not yet paid Since interest is usually paid in arrears, accrued interest does …

Accrued Items

Expenses owing but not yet payable An example is mortgage interest which is paid at the end of the month or property taxes which …

Accumulated Depreciation

See: Accrued Depreciation

Accumulated Interest

Unpaid interest which is past due See also: Accrued Interest