Whether you are looking at abbreviations or acronyms for real estate terms, be sure you clearly understand what they mean when referring to a specific piece of real estate. Property listings When it comes to real estate exam prep, it can be extremely helpful.Here’s our abridged version, a pocket guide to common real estate vocabulary terms and acronyms.
A classic example of a fixture would be a chandelier, as it is an item that was movable but now is attached to the property. Whether you’re a new real estate licensee or you’ve been in the business for decades, a handy guide to real estate vocabulary and real estate acronyms can never hurt. Bundle of Legal Rights - Disposition, Enjoyment, Exclusion, Possession, ControlsSix Common-law fudiciary duties - Care, Obedience, Loyalty, Disclosure, Accounting, ConfidentialityFour government powers - Police power, Eminent Domain, Taxation, EscheatFour unities necessary to create joint tenancy - Possession, Interest, Time, TitleEssential elements of a valid contract - Legal purpose, Legally competent parties, Offer and Acceptance, Consideration, ConsentSpecial, Commercial, Agricultural, Residential, Industrial, Mixed-useFour alternative risk management techniques - Avoid, Control, Transfer, Or RetainTo have value, property must have following characteristics - Demand, Utility, Scarcity, TransferabilityMonthly mortgage - Principle, Interest, Tax, Insurance move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box. Browse and search thousands of Real Estate Abbreviations and acronyms in our comprehensive reference resource. It consists of an 80% - 30 year first lien at market rates, a 10% - 15 year second lien at a slightly higher interest In the abbreviations, you may see differences in which letters get capitalized and which don’t depending on the realtor/publication. Browse and search thousands of Real Estate Abbreviations and acronyms in our comprehensive reference resource.
It teaches brokers to streamline operations, apply business trends and strategies, and integrate technology into their business. To move the current card to one of the three colored boxes, click on the box. Making it a form of concurrent ownership as opposed to ownership in severalty (where a person owns a property on their own). Browse the list of 2.9k Real Estate abbreviations with their meanings and definitions. A fixture is personal property that becomes real property, meaning that it was something that once went with the person but for reasons of its association with the property now goes with the real estate being sold.
Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. It is only used to allow you to reset your password. One word: yes. These abbreviations are typically written in all capital letters. If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and Real estate agents and other real estate professionals often need to have specific certifications and may work with or belong to different associations or groups. Let's talk about 4 acronyms that you m ust know to pass your real estate exam. Start studying Real Estate - Acronyms. Real estate designations are credentials available to real estate professionals who have demonstrated deep knowledge or extensive skills in certain areas of the real estate industry. The acronym STUD is used as a memory aid to keep the 4 elements of value in mind.. Other activities to help include hangman, crossword, word scramble, games, matching, quizes, and tests. Another form of concurrent ownership you should be aware of is Those are the 4 acronyms you must know to pass your exam. Learn vocabulary, terms, and more with flashcards, games, and other study tools. To flip the current card, click it or press the Spacebar key. The test for a fixture can be remembered with the acronym MARIA.So when they ask you about a fixture on your exam, remember the acronym MARIA: To remember the government powers, think of the acronym PETE.So for government powers, remember the acronym PETE: Police Power, Joint tenancy can be held by two or more people. REAL ESTATE TERMINOLOGY A Course Companion for Studying for The Real Estate Exam, for Real Estate Home Study Courses, for Real Estate Continuing Education Courses, for Real Estate Statutory Courses, and for Any Form of College Real Estate Course. There are many abbreviations used in real estate, but the following list includes the more common ones you’ve probably heard before.
These abbreviations are typically written in all capital letters. Sept 1 Flash Sale: Save 40% right now! You may also PAGE 1 A ABANDONMENT Failure to occupy and use property; may result in loss of rights. 4 Elements of Value: STUD. There is a wide range of real estate abbreviations and real estate acronyms in the industry. When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. You may also click on the card displayed in any of the three boxes to bring that card back to the About Us. press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to MLS - Multiple Listing Service; database of real estate for saleSmart -a computer controls some electronic devices like heating, alarms, and lightsThis list of real estate investing abbreviations is useful for real estate brokers. retry the cards in the "Don't Know" box ACRP - Association of Commercial Real Estate ProfessionalsFHLMC – Freddie Mac (Federal Home Loan Mortgage Corporation)GNMA – Ginnie Mae (Government National Mortgage Association)REALTOR® – Member of the National Association of Realtors They are scarcity, transferability, utility and demand.Remember STUD is for scarcity, transferability, utility and demand.Personal property goes with the person and real property goes with the real estate. Learn vocabulary, terms, and more with flashcards, games, and other study tools.
center. Taking a state real estate exam is necessary for becoming a licensed real estate agent. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career.