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!

Penstock

(1) A valve to regulate or direct the flow of water (2) A conduit for a similar purpose

Penthouse

(1) A condominium or apartment on the roof of a building, used as a residence (2) A small building on a roof, which houses …

Per Annum

Yearly, annually

Per Capita

Literally, by heads Commonly, as individuals In the right to receive a portion of the estate of a deceased person, one claiming a per …

Per Diem

Daily

Per Se

By itself; of itself; inherently

Per Stirpes

As a representative, and not as an individual In the laws of descent and distribution, one who takes because of the deceased ancestor For …

Percentage lease

A lease commonly used for retail property in which the rental is based on the tenant’s gross sales at the premises; often stipulates a …

Percentage Rent

See: Percentage Lease

Perch

A seldom used unit of measurement equal to 16 1/2 feet

Percolation

The absorption of liquid into soil by seepage

Percolation (Perk) Test

The test to determine the capability of the soil to absorb liquid, both for construction and septic systems