National Real Estate Exam Glossary: Key Terms and Definitions
- Adjustable-rate mortgage (ARM)
- Alienation
- Appraisal
- Balloon payment
- Capitalization rate
- Closing Disclosure
- Condemnation
- Contingency
- Disclosure
- Assemblage
- Bundle of rights
- Chain of title
- Deed of trust
- Devise
- Abstract of title
- Assumption
- Avulsion
- Bargain-and-sale deed
- Commingling
- Conformity
- Constructive notice
- Conventional loan
- Deed
- Agency
- Anticipation
- Appurtenant easement
- Covenants, Conditions, and Restrictions (CC&Rs)
- Cloud on title
- Conversion
- Cost approach
- Counteroffer
- Ad valorem tax
- Amortization
- Blockbusting
- Comparative Market Analysis (CMA)
- Condominium
- Curtesy and dower
- Assessed value
- Consideration
- Constructive eviction
- Defeasance clause
- Accretion
- Accrued depreciation
- Adverse possession
- Contribution
- Cooperative
- Covenant
- Depreciation
- Acceleration clause
- Due-on-sale clause
- Demand, Utility, Scarcity, and Transferability (DUST)
- Effective gross income
- Eminent domain
- Escrow
- Exclusive-right-to-sell listing
- Executed contract
- Lien theory
- Nonconforming use
- Open listing
- Plottage
- Promissory note
- Special-use permit
- Sublease
- Equitable redemption
- Executory contract
- Fee simple absolute
- Functional obsolescence
- Gross lease
- Habendum clause
- Lien
- Life estate
- Partition
- Purchase money mortgage
- Redlining
- Subordination clause
- Subrogation
- Title theory
- Dual agency
- Equal Credit Opportunity Act (ECOA)
- Fee simple defeasible
- Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
- General warranty deed
- Highest and best use
- Hypothecation
- Metes and bounds
- Mortgage
- Mortgagor
- Periodic tenancy
- Principal, Interest, Taxes, and Insurance (PITI)
- Race-notice statute
- Regression
- Riparian rights
- Severalty
- Specific performance
- Spot zoning
- Steering
- Testate
- Title insurance
- Dominant tenement
- Emblements
- Escheat
- Estate for years
- Exclusive-agency listing
- Fixture
- Gross rent multiplier (GRM)
- Implied agency
- Intestate
- Inverse condemnation
- Joint tenancy
- Marketable title
- Mill
- Novation
- Open, Continuous, Exclusive, Actual, and Not Permitted (OCEAN)
- Procuring cause
- Pur autre vie
- Reconciliation
- Reversion
- Tenancy at sufferance
- Underwriting
- Usury
- Void / voidable
- Zoning
- Estoppel
- Fiduciary
- Foreclosure
- Homestead
- Lead-based paint disclosure
- Leasehold estate
- Liquidated damages
- Listing agreement
- Material fact
- Mechanic's lien
- Net lease
- Net listing
- Net operating income (NOI)
- Points (discount points)
- Redemption
- Remainder
- Reproduction cost
- Tenancy at will
- Uniform Standards of Professional Appraisal Practice (USPAP)
- Easement
- Littoral rights
- Market value
- Mortgagee
- Principal
- Progression
- Proration
- Quitclaim deed
- Recording
- Replacement cost
- Substitution
- Tenancy by the entirety
- Trade fixture
- TILA–RESPA Integrated Disclosure Rule (TRID)
- Encumbrance
- External obsolescence
- Ground lease
- Involuntary alienation
- Loyalty
- Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care (OLD CAR)
- Percentage lease
- Police power
- Prescription
- Puffing
- Secondary mortgage market
- Special assessment
- Special warranty deed
- Statute of frauds
- Tenancy in common
- Torrens system
- Encroachment
- Estate
- Fair Housing Act
- Federal Housing Administration (FHA) Loan
- Income, Rate, Value (IRV) Formula
- Lis pendens
- Loan-to-value ratio (LTV)
- Private mortgage insurance (PMI)
- Real property
- Real Estate Settlement Procedures Act (RESPA)
- Sales comparison approach
- Servient tenement
- Truth in Lending Act (TILA)
- Variance
- Voluntary alienation
- Will
- Practice of Real Estate
- Math Calculations
- Land Use
- Valuation
- Financing
- Leasing / Management
- Contracts
- Transfer of Title
- Disclosures