Real Estate Contracts
This serves as liquidated damages
What is Earnest Money
Friendly foreclosure
What is Deed in Lieu of Foreclosure
leasehold estate that continues for a definite period
What is Estate (tenancy) for Years
What is Lead
Love and affection also is a form of
What is consideration
What is Usury
Prohibits kickbacks at closing
Tenant pays a fixed rent and some or all of the utility expenses
What is Encapsulation
What is an Express Contract
Negotiable instrument
What is the promissory note
What is VA loan
agreement for an indefinite period of time. Proper notice is required
What is Estate (tenancy) from period to period
colorless, odorless, tasteless, radioactive gas produced by decay of other radioactive substances
What is Radon
One or both parties still have an act to perform
What is an Executory Contract
Process of making specific real property serve as security for the loan.
What is hypothecation
May be removed at 20% equity but must be removed at 22% equity
What is PMI (private mortgage insurance)
Is automatically terminated by the death of either landlord or tenant
What is Estate (tenancy) at Will
A change or modification to the existing content of a contract
What is an Amendment
Power of sale clause - no court action required
What is a nonjudicial foreclosure
Covers more than one parcel or lot
What is a blanket loan
What is Actual Eviction
can grow on almost any organic substance