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202 Matching questions

  1. bounds
  2. easement
  3. land trust
  4. exchange value
  5. extraordinary assumption
  6. price
  7. condemnation
  8. testate
  9. title
  10. tier
  11. township lines
  12. population (universe)
  13. appraisal practice
  14. condo ownership
  15. remainder interest
  16. value in use
  17. regression
  18. progression
  19. encroachment
  20. option contact
  21. insurable value
  22. excess land
  23. fee simple defeasible
  24. junior lien
  25. sales contract
  26. co-ownership
  27. township
  28. highest and best use as though vacant
  29. liquidity
  30. increasing and decreasing returns
  31. syndication
  32. improvement
  33. deed restriction
  34. consistent use
  35. reservation
  36. life estate
  37. gentrification
  38. district
  39. annuity
  40. identification of the problem
  41. money market
  42. lot and block (recorded plat)
  43. metes and bounds
  44. conformity
  45. appurtenance
  46. externalities
  47. remainderman
  48. equity
  49. spot zoning
  50. baselines
  51. appraisal
  52. market area
  53. competency
  54. lien priority
  55. fair value
  56. four forces that influence value
  57. intended user
  58. marketing time
  59. effective purchasing power
  60. transition
  61. surplus productivity
  62. market
  63. balance
  64. fixtures
  65. appraiser
  66. effective date
  67. sufficient diligence
  68. social forces
  69. adverse possession
  70. inflation
  71. mortgage
  72. scarcity
  73. valuation services
  74. exposure time
  75. array
  76. appraisal consulting
  77. quitclaim deed
  78. testamentary trust
  79. most probable price
  80. rate or return
  81. surface rights
  82. land contract
  83. riparian rights
  84. gov't and legal forces
  85. net lease
  86. sinking fund factor
  87. capital market
  88. contribution
  89. trust
  90. partial interests
  91. risk
  92. joint tenancy
  93. gross lease
  94. escheat
  95. superfund law
  96. AOP - labor
  97. zoning variance
  98. living trust
  99. intestate
  100. easement appurtenant
  101. agents of production
  102. mode
  103. ownership in severalty
  104. planned unit development(PUD)
  105. personal property
  106. real estate
  107. highest and best use
  108. police power
  109. estate in land
  110. AOP - land
  111. seller-paid points (discount points)
  112. median
  113. going-concern
  114. lien
  115. leasehold estate
  116. use value
  117. competition
  118. AOP - capital
  119. air rights
  120. rectangular (gov't survey)
  121. appraisal review
  122. opportunity cost
  123. real property
  124. range
  125. land
  126. tenancy in common
  127. hypothetical condition
  128. contract
  129. leased fee interest
  130. buffer strup (buffer zone)
  131. freehold estate
  132. general lien
  133. market equilibrium
  134. linkages
  135. purpose of an appraisal
  136. encumbrance
  137. government lots
  138. concessions
  139. environmental and geographic forces
  140. earnest money
  141. arm's length transaction
  142. subsurface rights
  143. special assessment
  144. common elements
  145. cost
  146. zoning ordinance
  147. math - range
  148. simple interest
  149. suprasurface rights
  150. ethical practice
  151. value
  152. intended use
  153. discounting
  154. compound interest
  155. specific lien
  156. voluntary lien
  157. bundle of rights
  158. general warranty deed
  159. time value of money
  160. anticipation
  161. highest and best use as though improved
  162. ad valorem tax
  163. trade fixtures
  164. cash equivalency
  165. debt
  166. metes
  167. economic forces
  168. deed
  169. cooperative ownership
  170. license
  171. involuntary lien
  172. AOP - entrepreneurial coordination
  173. surface rights - water rights
  174. investment value
  175. cash flow
  176. range lines
  177. littoral rights
  178. variable
  179. supply and demand
  180. emblements
  181. mean
  182. fee simple absolute
  183. change
  184. legally nonconforming
  185. real estate investment trust (REIT)
  186. utility
  187. Federal Reserve
  188. point of beginning(POB)
  189. easement in gross
  190. interim use
  191. principal meridians
  192. life cycle of a neighborhood
  193. section
  194. assessed value
  195. present value of $1
  196. real estate market
  197. scope of work
  198. desire
  199. substitution
  200. surplus land
  201. neighborhood
  202. tenancy by the entirety
  1. a a. owner holds fee simple title to individual condo unit
    b. owner holds undivided interest in common elements
    c. condo can be high-rise, townhome, or detached
  2. b a. real estate is only asset of land trust
    b. title is conveyed to trustee, trustor is also beneficiary.
  3. c opinion of the amount of time it might take to sell property interest immediately after the effective date of an appraisal
  4. d a. for married individuals
    b. each spouse has equal interest in property
  5. e a. presumes the transfer of property rights
    b. rights conveyed are not identified in market value definition, appraiser must identify ownership rights in the appraisal
  6. f a. subject to occurrence or non-occurrence of a specific event.
    b. two types are estates that...
    1.. are qualified by special limitation
    2.. subject to a condition subsequent
  7. g a. gov't lines that extend north and south at 6-mile intervals and are numbered east or west from principal meridian.
    b. form north and south bounds of townships
  8. h lien that binds all assets of individual debtor(their property) to the lien
  9. i 4 stages:

    1. growth
    2. stability
    3. decline
    4. revitilization
  10. j ...
  11. k a. generally presents a "what if" scenario
    b. a condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used in for the purpose of analysis
  12. l property taxation based on the value of a property
  13. m second or third mortgage tier lien that comes behind the first mortgage in lien priority
  14. n rights of use, control, and occupancy, limited to the lifetime of a party (or life tenant)
  15. o the act or process of developing and communicating an opinion about another appraiser's work
  16. p 1. riparian rights
    2. littoral rights
    3. unrestricted right to use water that adjoins property
  17. q the objective of an assignment, to develop an opinion defined value of any real property interest
  18. r net income that remains after the costs of various agents of production have been paid
  19. s binds the grantor a deed and heirs to defend to defend the title conveyed to the grantee and their heirs against lawful claims of all persons
  20. t a valuation service performed by an individual acting as an appraiser
  21. u a. the central bank of the U.S. acting to provide the U.S. with a safe, flexible, and stable financial system
  22. v principle of conformity that states that the value of a superior property is adversely affected by association with an inferior property of the same type
  23. w the ability of a person or group to participate in a market with cash or its equivalent
  24. x appraiser's obligation to

    1. protect public trust
    2. develop work that is meaningful and not misleading
    3. when acting as appraiser, must perform ethical and competent assignments
  25. y amount asked, offered, or paid for a property
  26. z the price of a real property varies directly, but not necessarily proportionately, with demand and inversely, but not nec. proportionately, with supply
  27. aa a. benefits a legal person or entity and not a particular tract of land
    b. has a servient but no dominant estate
  28. ab middle number of a set
  29. ac a compound interest factor that indicates how much $1 due in the future is worth today
  30. ad principle that real property value is created and sustained when the characteristics of a property conform to the demands of its market
  31. ae each equals about one mile square, where each township is divided
  32. af annual crops such as corn, wheat, and vegetables
  33. ag process by which gov't takes away privately held land for public use
  34. ah legally binding agreement between two or more parties that represents their promise to do or not do a particular thing
  35. ai market value is expressed as this, these three words must be present in the definition of market value
  36. aj cost of acquiring raw land begins process of adding value to real estate
  37. ak the price that would be received to sell an asset or paid to a transfer liability in an orderly transaction between market participants at the measure date
  38. al complete set of all items in a specific category
  39. am interest in each period is calculated based on the original deposit or investment, and it doesn't compound
  40. an involve the environmental surroundings, both natural and man-made
  41. ao erosion of the purchasing power of currency characterized by price escalation and an increase in the volume of money
  42. ap a written, legal instrument that conveys an estate or interest in real property to someone else
  43. aq a. a building development built for complementary use
    b. not an ownership type
    c. housing, schools, recreation, retail
  44. ar a. total dollar expenditure to develop an improvement
    b. a fact
  45. as a. parts of condo real estate inside and outside the building
    b. can include land, pools, tennis court, elevators, gym, laundry rooms
  46. at a. principle that economies outside a property have a positive effect on its value
    b. two types: positive and negative
  47. au temporary use to which a site or improved property is put until it is ready to be put to its future highest and best use
  48. av successive increments of one or more agents of production added to other agents will enhance income at an increasing rate until a max return is reached. then, income will decrease until increment of value becomes less than added agents of production
  49. aw corporation or trust that combines capital from many investors to provide financing for all forms of real estate.
  50. ax principle of conformity that states that value of an inferior property is enhanced by association with better properties of the same type
  51. ay concept that underlying compound interest that holds that $1 received today is worth more than $1 received in the future due to opportunity cost, inflation, and certainty of payment
  52. az concept that value of a particular component is measured in terms of the amount it adds to the value of the whole property or how much it would decrease the value if it did not exist
  53. ba a. ownership interest held by a landlord with rights of use and occupancy conveyed by lease to others.
    b. these rights are specified by contract b/w lessee and lessor
  54. bb the compound interest factor that indicates the amount per period that will grow, with compound interest, to $1
  55. bc the act or process of developing an analysis, recommendation, or opinion to solve a problem, where an opinion of value is a component of the analysis leading to the assignment results
  56. bd the use of an appraiser's reported appraisal, appraisal review, or appraisal consulting assignment opinions and conclusions, as identified by the appraiser based on communication with the client at the time of the assignment
  57. be perception that value is created by expectation of benefits to be derived in the future
  58. bf horizontal row of townships
  59. bg interests, benefits, and rights inherit in the ownership of real estate
  60. bh focus on changes in demographics, social trends, and attitudes
  61. bi land not needed to serve or support the existing improvement, and may be sold separately
  62. bj a. assessment against against real estate levied by a public authority to pay for public improvements. example is sidealks or sewers
    b. aka betterment tax
  63. bk process of community change in which middle- and upper- income persons purchase properties in a neighborhood and renovate or rehabilitate them, causing property values to rise and often displacing poorer residents
  64. bl total range of ownership interests in real property. the most complete form of ownership.


    1. possession
    2. transfer
    3. lease
    4. mortgage
    5. improve
  65. bm aka CERCLA, when landowners had a hazardous material released on their property, they were held liable for the contamination
  66. bn pertain to properties touching a river or stream (flowing water), with emphasis on use of the flowing water
  67. bo created intentionally by property owner's actions. mortgage is example
  68. bp a. real estate is transferred to another person to manage for benefit of a third party
    b. players are trustor, trustee, and beneficiary
    c. types of trusts
    1. living
    2. testamentary
    3. land
  69. bq run east and west
  70. br a contract providing for regular payments of predictable amounts (monthly, quarterly, annually)
  71. bs the value a specific property has for a specific use
  72. bt the degree to which an asset or security can be bought or sold in the market without affecting the asset's price
  73. bu a. divides land into townships and ranges about 6 miles square
    b. normally have 36 one-sq-mile sections of 640 acres
    c. system used in florida, alabama, mississippi, and all states north of ohio river or west of miss. river except texas
  74. bv a. has both dominant and servient estates
    b. passes with title to dominant estate
  75. bw mathematical object that changes
  76. bx one who estimates officially the worth or value or quality of things
  77. by system that refers to parcels' lot and block numbers, which appear on recorded maps and plats of subdivided land
  78. bz equipment (machinery and tools) and buildings and infrastructure that can produce other goods
  79. ca a. where the interaction of supply and demand takes place
    b. gathering of people for the buying and selling of things
  80. cb a. a type of value for insurance purposes
    b. based on cost of physical items subject to loss, mainly which are improvements
  81. cc run north and south
  82. cd sole ownership by individual or entity where owner has no restrictions on how the property is sold to another party
  83. ce a. most complete form of ownership
    b. unlimied duration
    3. only government can possess
  84. cf a. a clause found in legal instruments and conveyances that creates a new right or interest on behalf of the grantor.
    b. may include mineral rights, rental income, or easements.
  85. cg difference between highest value and lowest value in a data set
  86. ch created by agreement while property owner is alive
  87. ci a. land and water, and anything that is attached to it whether by nature or man-made.
    b. each parcel is immobile and unique, finite, and a commodity
  88. cj generally, liens follow priority order based on when they were created
  89. ck private or public partnership that pools funds for acquiring and developing real estate projects
  90. cl a future interest held by someone other than the grantor entitling a remainderman to an estate after a prior estate or interest has expired
  91. cm inherent power of gov't to regulate property in order to protect public health, safety and general welfare
  92. cn addresses potential issues a claim might get from a particular party, used to clear a defect in the title.
  93. co most frequently occurring number
  94. cp vertical column of townships
  95. cq land not currently needed to support the existing improvement but can't be separated from the property and sold off
  96. cr a. a cooperation that owns the real estate and offers shares to prospective tenants
    b. operating expenses, mortgage payments, insurance and taxes are paid by coop budget
  97. cs used to authorize property for modification outside normal zoning for property
  98. ct a. physical raw land and all things that are a natural part of the land, including appurtenances
    b. when attached to land, improvements become real estate
  99. cu the first step of valuation process, which includes six elements

    1. client and any other intended user
    2. intended use
    3. type and definition value (a.k.a. purpose)
    4. effective date
    5. subject of assignment and characteristics
    6. assignment conditions
  100. cv a good faith deposit made by a purchaser as a consideration component of a binding contract
  101. cw any permanent structure on real property, or any work on the property which increases its value
  102. cx a. the interaction of supply and demand
    b. moderate profits attract healthy competition
  103. cy the ability of a product to satisfy a human want, need, or desire
  104. cz lien that is levied or attached to a specific piece of property
  105. da the degree, nature, or extent of interest that a person has in land
  106. db the cash an individual or entity places into an investment
  107. dc an appraiser must

    1. correctly employ recognized methods
    2. not make a substantial error or omission that effects an appraisal
    3. not render appraisal services in a careless manner
  108. dd the cost of opportunities not chosen, like the cost of not buying a cheaper property
  109. de a neighborhood characterized by homogenous land use, i.e. apartment, commercial, industrial, agricultural
  110. df pertain to properties touching a lake or pond (non-flowing water), with emphasis on use of the shore
  111. dg the date of the value opinion
  112. dh the total return greater than or equal to the amount invested
  113. di interaction of buyers and sellers trading long-term or intermediate-term money instruments
  114. dj condition of dying with a will
  115. dk combination of all elements that constitute proof of ownership
  116. dl a loan secured by the collateral of some specified real property, which obliges a borrower to pay
  117. dm a. the type and extent if research and analyses in an assignment
    b. the second step of the valuation process
  118. dn a. exception to general zoning regulations
    b. permits specific, small parcels of land to be zoned for use not permitted to surrounding area
  119. do the act or process of developing an opinion of value
  120. dp article that was once personal property but has been attached to the land or building and has become part of the real estate
  121. dq right of survivorship; ownership is passed to surviving tenant
  122. dr system that refers to the parcel's boundaries, formed by the POB, bounds, and metes
  123. ds a. area between two township lines and two range lines
    b. contains 36 sections of 640 acres each
  124. dt characteristics...
    1. present or future possession
    2. indeterminate duration
    3. ownership

    1. fee simple estate
    2. life estate
  125. du condition of dying without leaving a valid will
  126. dv having adequate ability to perform an assignment and produce credible results
  127. dw allows for open space between two land uses
  128. dx result of the cause and effect relationship among forces that influence real property value
  129. dy something added or attached to a property that becomes an inherent part of the property, usually passes with the property when the title is transferred
  130. dz a. tells us where money flows over time
    b. money deposited is negative, money withdraw is positive
  131. ea buyers and sellers of a particular real estate and the transactions that occur among them
  132. eb a. land areas that are not divided into quarters of a quarter due to size or location
    b. usually lie along n. and w. borders of township and edges of rivers
  133. ec the balance point where supply and demand meet
  134. ed a financial payment, special benefit, or non-realty item included in the sale contract or rental agreement as an incentive
  135. ee the tenant pays all operating expenses
  136. ef a. a purchaser of real estate agrees to pay a portion of the purchase price when the contract is signed
    b. primarily protects the seller's interest in unpaid balance
  137. eg a. property is held by two or more people and has four types...
    1. tenancy in common
    2. join tenancy
    3. tenancy by the entirety
    4. community property
  138. eh the cost of overall development, which includes project coordination and supervision
  139. ei established by will of property owner after their death
  140. ej grandfathered use
  141. ek value of a property assuming a specific use, which may or may not be the property's highest and best use on the effective date of the appraisal.
  142. el a. lines that run east and west at 6-mile intercals north and south of a baseline
    b. form north and south bounds of townships
  143. em a. a common concession that appraisers adjust for when analyzing comparable sales.
    b. intended to buy down the interest rate of the buyer's mortgage
    c. one discount point = 1% of the mortgage amount
  144. en rights include land, water, or anything attached to the land, natural or man-made
  145. eo the client and any other party as identified, by name or type, as users of the appraisal, appraisal review, or appraisal consulting report
  146. ep the area associated with a subject property that contains its direct competition
  147. eq provision written into a deed that limits the use of land, usually remains in effect when title passes to next owner
  148. er principle that real property value is created and sustained when contrasting, opposing, or interacting elements are in a state of equilibrium
  149. es trespassing on the domain of another
  150. et local laws that implement comprehensive plan and provide regulation and control of land and structures within a district
  151. eu value of a property according to tax rolls in ad valorem taxation
  152. ev a. agreement granting privilege to use property
    b. not an estate or interest in land
    c. not assignable, cant be sold
    d. personal agreement granted for specific time
  153. ew an analytical process in which the sale price of a transaction with nonmarket financing is converted into a price expressed in cash terms
  154. ex 2 or more people own a property, assumed to be equally divided among the two
  155. ey the market value of all tangible and in-tangible assets of an established and operating business
  156. ez the lessor (landlord) pays some or all of the operating expenses
  157. fa use that should be made of a property as though it exists
  158. fb monetary relationship between properties and those who buy, sell, or use those properties
  159. fc plays a significant role in how investments compete against each other
  160. fd a sale between unrelated parties under no duress
  161. fe a group of complementary land uses; a congruous grouping of inhabitants, buildings, or businesses
  162. ff ??
  163. fg written document signed by a byer and seller who agree to the transfer of ownership interests in real estate
  164. fh articles placed in or attached to rented buildings by a tenant to carry out the trade or business of the tenant, always personal property
  165. fi a. a charge against property in which the property is the security for payment of the debt
    b. types
    1. general lien
    2. specific lien
  166. fj involve control and regulations
  167. fk characteristics...
    1. possessory
    2. defined period of time or specified conditions
    3. possessory rights revert back to owner
  168. fl assumption, directly related to a specific assignment, as of the effective date of the assignment results, which could alter the appraiser's opinion if found to be false.
    b. presumes as fact otherwise uncertain information about a property
  169. fm identifiable tangible objects that are considered by the general public as being "personal"
  170. fn rights below land, including
    1. right to use and profit of underground property
    2. extraction of minerals
    3. construction of tunnels, subways , sewers, basements
    4. solid mineral rights
    5. oil and gas rights
  171. fo 1. gov't and legal
    2. economic
    3. social
    4. environmental and geographic
  172. fp present or anticipated undersupply of an item, which directly effects value
  173. fq a. costs associated with entrepreneur's ability to combine land, labor, and capital in property development
    b. investment of time, expertise, and equity by entrepreneur
  174. fr a. land
    b. labor
    c. capital
    d. entrepreneurial coordination
  175. fs aka an average
  176. ft a. the time the property was available for sale in the market
    b. always presumed to occur before the effective date of the appraisal (always retrospective)
  177. fu interaction of buyers and sellers who trade short-term instruments
  178. fv purchaser's wish for an item to satisfy their needs or their wants beyond essential things
  179. fw a. measures that include direction and distance.
    b. all intermediate points of a parcel of land
  180. fx in terms of finding the mode, the numbers must first be arranged in ascending or descending order
  181. fy changes in neighborhood use, i.e. agricultural to residential, residential to commercial
  182. fz a. terminal points that can be landmarks or monuments.
    b. courses or angular direction between each point
  183. ga a. legal contract that permits but does not require the holder of the option (optionee) to buy, sell, or lease the property for a said period of time
    b. an agreement to make a contract
  184. gb the right to use another's land for a stated purpose
  185. gc created by law rather than choice. property tax lien is example
  186. gd interest earned on the original investment amount and on previously earned interest
  187. ge use of property based on the assumption that the parcel of land is vacant or can be made vacant
  188. gf a claim or liability that affect or limits the title to a property
  189. gg concept that land can't be valued on the basis of one use while the improvements are valued on the basis of another
  190. gh value of a property interest to a particular investor based on their specific requirements
  191. gi rights above land (air rights), including...
    1. right to construct buildings in air space
    2. right to control/view solar access
    3. right to lease or sell these rights
  192. gj when several similar commodities, goods, or services are available, the cheapest one will attract the most demand
  193. gk reasonably probably and legal use of vacant land or improved property that is physically possible, appropriately supported, financially feasible, and results in the highest value
  194. gl the money an individual or entity has borrowed
  195. gm conversion of benefits received in the future to present value
  196. gn pertain to circumstances and trends that affect supply and demand
  197. go the distance, in time and cost, to get to and from certain public buildings
  198. gp divided or undivided rights in real estate that represent less than the whole interest
  199. gq services pertaining to aspects of property value
  200. gr involuntary transfer of property that where a party makes a property claim by taking possession over a period of years and the owner fails to contest the possession
  201. gs when a property owner dies with no heir, it is turned over to the state
  202. gt the right to undisturbed use and control of designated air space above a specific land area