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