FRI GLOSSARY
ABSTRACT
OF TITLE o ACCELERATION
CLAUSE o ACCESSION
o ACCRETION
o ACCRUED
ITEMS o ACKNOWLEDGEMENT
o ACRE o
ACTUAL
EVICTION o ACTUAL
NOTICE o ADJUSTABLE-RATE
MORTGAGE (ARM) o ADJUSTED
BASIS o AD
VALOREM TAX o ADVERSE
POSSESSION o AFFIDAVIT
OF TITLE o AGENCY
o AGENCY
COUPLED WITH AN INTEREST o AGENT
o AIR
LOT o AIR
RIGHTS o ALIENATION
o ALIENATION
CLAUSE o ALLODIAL
SYSTEM o AMERICAN
LAND TITLE ASSOCIATION (ALTA) POLICY o AMORTIZED
LOAN o ANNUAL
PERCENTAGE RATE (APR) o ANTICIPATION
o ANTITRUST
LAWS o APPRAISAL
o APPRECIATION
o APPURTENANCE
o APPURTENANT
EASEMENT o ASSEMBLAGE
o ASSESSMENT
o ASSIGNMENT
o ASSUMPTION
OF MORTGAGE o ATTACHMENT
o ATTORNEY'S
OPINION OF TITLE o AUTOMATIC
EXTENSION o AVULSION
o BALANCE
o BALLOON
PAYMENT o BARGAIN
AND SALE DEED o BASE
LINE o BASIS
o BENCH
MARK o BENEFICIARY
o BILATERAL
CONTRACT o BINDER
o BLANKET
LOAN o BLOCKBUSTING
o BLUE-SKY
LAWS o BOOT
o BRANCH
OFFICE o BREACH
OF CONTRACT o BROKER
o BROKERAGE
o BUFFER
ZONE o BUILDING
CODE o BUILDING
PERMIT o BULK
TRANSFER o BUNDLE
OF LEGAL RIGHTS o BUYDOWN
o BUYER-AGENCY
AGREEMENT o CAPITAL
GAIN o CAPITALIZATION
o CAPITALIZATION
RATE o CASH
FLOW o CASH
RENT o CAVEAT
EMPTOR o CERTIFICATE
OF REASONABLE VALUE (CRV) o CERTIFICATE
OF SALE o CERTIFICATE
OF TITLE o CHAIN
OF TITLE o CHANGE
o CHATTEL
o CIVIL
RIGHTS ACT OF 1866 o CLOSING
STATEMENT o CLOUD
ON TITLE o CLUSTERING
o CODE
OF ETHICS o CODICIL
o COINSURANCE
CLAUSE o COMMINGLING
o COMMISSION
o COMMON
ELEMENTS o COMMON
LAW o COMMUNITY
PROPERTY o COMPARABLES
o COMPETITION
o COMPETITIVE
MARKET ANALYSIS (CMA) o COMPREHENSIVE
PLAN o CONDEMNATION
o CONDITIONAL-USE
PERMIT o CONDOMINIUM
o CONFESSION
OF JUDGEMENT CLAUSE o CONFORMITY
o CONSIDERATION
o CONSTRUCTION
LOAN o CONSTRUCTIVE
EVICTION o CONSTRUCTIVE
NOTICE o CONTINGENCY
o CONTRACT
o CONTRIBUTION
o CONVENTIONAL
LOAN o CONVEYANCE
o COOPERATING
BROKER o COOPERATIVE
o CO-OWNERSHIP
o CORPORATION
o CORRECTION
LINES o COST
APPROACH o COST
RECOVERY o COUNTEROFFER
o COVENANT
o COVENANT
OF QUIET ENJOYMENT o CREDIT
o CURTEST
o DATUM
o DEBIT
o DECEDENT
o DEDICATION
o DEED o
DEED
IN LIEU OF FORECLOSURE o DEED
IN TRUST o DEED
OF TRUST o DEED
OF TRUST LIEN o DEED
RESTRICTION o DEFAULT
o DEFEASANCE
CLAUSE o DEFEASIBLE
FEE ESTATE o DEFICIENCY
JUDGEMENT o DEMAND
o DENSITY
ZONING o DEPRECIATION
o DESCENT
o DEVELOPER
o DEVISE
o DISCOUNT
POINT o DOMINANT
TENEMENT o DOWER
o DUAL
AGENCY o DUE-ON-SALE
CLAUSE o DURESS
o EARNEST
MONEY o EASEMENT
o EASEMENT
BY CONDEMNATION o EASEMENT
BY NECESSITY o EASEMENT
BY PRESCRIPTION o EASEMENT
IN GROSS o ECONOMIC
LIFE o EMBLEMENTS
o EMINENT
DOMAIN o EMPLOYEE
o EMPLOYMENT
CONTRACT o ENABLING
ACTS o ENCROACHMENT
o ENCUMBRANCE
o EQUAL
CREDIT OPPORTUNITY ACT (ECOA) o EQUALIZATION
o EQUALIZATION
FACTOR o EQUITABLE
LIEN o EQUITABLE
RIGHT OF REDEMPTION o EQUITABLE
TITLE o EQUITY
o EROSION
o ESCHEAT
o ESCROW
o ESCROW
ACCOUNT o ESCROW
INSTRUCTIONS o ESTATE
(TENANCY) AT SUFFERANCE o ESTATE
(TENANCY) AT WILL o ESTATE
(TENANCY) FOR YEARS o ESTATE
(TENANCY) FROM PERIOD TO PERIOD o ESTATE
IN LAND o ESTATE
TAXES o ESTOPPEL
o ESTOPPEL
CERTIFICATE o ETHICS
o EVICTION
o EVIDENCE
OF TITLE o EXCHANGE
o EXCLUSIVE-AGENCY
LISTING o EXCLUSIVE
RIGHT-TO-SELL LISTING o EXECUTED
CONTRACT o EXECUTION
o EXECUTORY
CONTRACT o EXPRESS
AGREEMENT o EXPRESS
CONTRACT o EXTERNAL
DEPRECIATION o FAIR
HOUSING ACT o FANNIE
MAE o FARMER'S
HOME ADMINISTRATION (FmHA) o FEDERAL
DEPOSIT INSURANCE CORPORATION (FDIC) o FEDERAL
HOME LOAN MORTGAGE CORPORATION (FHLMC) o FEDERAL
NATIONAL MORTGAGE ASSOCIATION (FNMA) o FEDERAL
RESERVE SYSTEM o FEE
SIMPLE ABSOLUTE o FEE
SIMPLE DEFEASIBLE o FEUDAL
SYSTEM o UPON
THE DEATH OF THE INDIVIDUAL o FHA
LOAN o FIDUCIARY
o FIDUCIARY
RELATIONSHIP o FINANCIAL
INSTITUTIONS REFORM, RECOVERY AND ENFORCEMENT ACT o FINANCING
STATEMENT o FISCAL
POLICY o FIXTURE
o FORECLOSURE
o FRACTIONAL
SECTION o FRAUD
o FREDDIE
MAC o FREEHOLD
ESTATE o FRONT
FOOTAGE o FUNCTIONAL
OBSOLESCENCE o FUTURE
INTEREST o GAP
o GENERAL
AGENT o GENERAL
LIEN o GENERAL
PARTNERSHIP o GENERAL
WARRANTY DEED o GINNIE
MAE o GOVERNMENT
CHECK o GOVERNMENT
LOT o GOVERNMENT
NATIONAL MORTGAGE ASSOCIATION (GNMA) o GOVERNMENT
SURVEY SYSTEM o GRADUATED-PAYMENT
MORTGAGE (GPM) o GRANTEE
o GRANTING
CLAUSE o GRANTOR
o GROSS
INCOME MULTIPLIER o GROSS
LEASE o GROSS
RENT MULTIPLIER (GRM) o GROUND
LEASE o GROWING-EQUITY
MORTGAGE (GEM) o HABENDUM
CLAUSE o HEIR
o HIGHEST
AND BEST USE o HOLDOVER
TENANCY o HOLOGRAPHIC
WILL o HOME
EQUITY LOAN o HOMEOWNER'S
INSURANCE POLICY o HOMESTEAD
o HYPOTHECATE
o IMPLIED
AGREEMENT o IMPLIED
CONTRACT o IMPLIED
WARRANTY OF HABITABILITY o IMPROVEMENT
o INCOME
APPROACH o INCORPOREAL
RIGHT o INDEPENDENT
CONTRACTOR o INDEX
METHOD o INFLATION
o INHERITANCE
TAXES o INSTALLMENT
CONTRACT o INSTALLMENT
SALE o INTEREST
o INTERIM
FINANCING o INTERSTATE
LAND SALES FULL DISCLOSURE ACT o INTESTATE
o INTRINSIC
VALUE o INVESTMENT
o INVOLUNTARY
ALIENATION o INVOLUNTARY
LIEN o JOINT
TENANCY o JOINT
VENTURE o JUDGEMENT
o JUDICIAL
PRECEDENT o JUNIOR
LIEN o LATCHES
o LAND o
LAND
CONTRACT o LAW
OF AGENCY o LEASE
o LEASEHOLD
ESTATE o LEASE
OPTION o LEASE
PURCHASE o LEGACY
o LEGAL
DESCRIPTION o LEGALLY
COMPETENT PARTIES o LESSEE
o LESSOR
o LEVERAGE
o LEVY o
LICENSE o
LIEN o LIEN
THEORY o LIFE
o LIFE
ESTATE o LIFE
TENANT o LIMITED
PARTNERSHIP o LIQUIDATED
DAMAGES o LIQUIDITY
o LIS
PENDENS o LISTING
AGREEMENT o LISTING
BROKER o LITTORAL
RIGHTS o LOAN
ORIGINATION FEE o LOAN-TO-VALUE
RATIO o LOT-AND-BLOCK
(RECORDED PLAT) SYSTEM o MANAGEMENT
AGREEMENT o MARKET
o MARKETABLE
TITLE o MARKET
VALUE o MASTER
PLAN o MECHANIC'S
LIEN o MERIDIAN
o METES-AND-BOUNDS
DESCRIPTION o MILL
o MINOR
o MONETARY
POLICY o MONTH-TO-MONTH
TENANCY o MONUMENT
o MORTGAGE
o MORTGAGE
BANKER o MORTGAGE
BROKER o MORTGAGEE
o MORTGAGE
LIEN o MORTGAGOR
o MULTIPERIL
POLICIES o MULTIPLE-LISTING
CLAUSE o MULTIPLE
LISTING SERVICE (MLS) o NEGOTIABLE
INSTRUMENT o NET
LEASE o NET
LISTING o NET
OPERATING INCOME (NOI) o NONCONFORMING
USE o NON-HOMOGENEITY
o NOTE o
NOVATION
o NUNCUPATIVE
WILL o OBSOLESCENCE
o OCCUPANCY
PERMIT o OFFER
AND ACCEPTANCE o OFFEROR/OFFEREE
o OFFICE
OF THRIFT SUPERVISION (OTS) o OPEN-END
LOAN o OPEN
LISTING o OPTION
o OPTION
LISTING o OSTENSIBLE
AGENCY o PACKAGE
LOAN o PAROL
EVIDENCE RULE o PARTICIPATION
MORTGAGE o PARTITION
o PARTNERSHIP
o PARTY
WALL o PATENT
o PAYMENT
CAP o PAYOFF
STATEMENT o PERCENTAGE
LEASE o PERCOLATION
TEST o PERIODIC
ESTATE (TENANCY) o PERSONAL
PROPERTY o PHYSICAL
DETERIORATION o PLANNED
UNIT DEVELOPMENT (PUD) o PLAT
MAP o PLOTTAGE
o POINT
OF BEGINNING (POB) o POLICE
POWER o POWER
OF ATTORNEY o PREPAID
ITEMS o PREPAYMENT
PENALTY o PRICE-FIXING
o PRIMARY
MORTGAGE MARKET o PRINCIPAL
o PRINCIPAL
MERIDIAN o PRIOR
APPROPRIATION o PRIORITY
o PRIVATE
MORTGAGE INSURANCE (PMI) o PROBATE
o PROCURING
CAUSE o PROGRESSION
o PROMISSORY
NOTE o PROPERTY
MANAGER o PROPERTY
REPORTS o PROPRIETARY
LEASE o PRORATIONS
o PROTECTED
CLASS o PUFFING
o PUR
AUTRE VIE "FOR THE LIFE OF ANOTHER." o PURCHASE-MONEY
MORTGAGE (PMM) o PYRAMIDING
o QUANTITY-SURVEY
METHOD o QUIET
TITLE o QUITCLAIM
DEED o RANGE
o RATE
CAP o RATIFICATION
o READY,
WILLING AND ABLE BUYER o REAL
ESTATE LAND o REAL
ESTATE INVESTMENT SYNDICATE o REAL
ESTATE INVESTMENT TRUST (REIT) o REAL
ESTATE LICENSE LAW o REAL
ESTATE MORTGAGE INVESTMENT CONDUIT (REMIC) o REAL
ESTATE RECOVERY FUND o REAL
ESTATE SETTLEMENT PROCEDURES ACT (RESPA) o REAL
PROPERTY o REALTOR®
o RECONCILIATION
o RECONVEYANCE
DEED o RECORDING
o RECTANGULAR
(GOVERNMENT) SURVEY SYSTEM o REDEMPTION
o REDEMPTION
PERIOD o REDLINING
o REDUCTION
CERTIFICATE (PAYOFF STATEMENT) o REGRESSION
o REGULATION
Z o RELEASE
DEED o REMAINDER
INTEREST o RENT
o RENT
SCHEDULE o REPLACEMENT
COST o REPRODUCTION
COST o RESOLUTION
TRUST CORPORATION o RESTRICTIVE
COVENANTS o REVERSE-ANNUITY
MORTGAGE (RAM) o REVERSIONARY
INTEREST o REVERSIONARY
RIGHT o RIGHT
OF SURVIVORSHIP o RIGHT-OF-WAY
o RIPARIAN
RIGHTS o RISK
MANAGEMENT o RULES
AND REGULATIONS o SALE
AND LEASEBACK o SALES
COMPARISON APPROACH o SALESPERSON
o SATISFACTION
OF MORTGAGE o SECONDARY
MORTGAGE MARKET o SECTION
o SECURITY
AGREEMENT o SECURITY
DEPOSIT o SEPARATE
PROPERTY o SERVIENT
TENEMENT o SETBACK
o SEVERALTY
o SEVERANCE
o SHARECROPPING
o SHARED-APPRECIATION
MORTGAGE (SAM) o SITUS
o SPECIAL
AGENT o SPECIAL
ASSESSMENT o SPECIAL
WARRANTY DEED o SPECIFIC
LIEN o SPECIFIC
PERFORMANCE o SQUARE-FOOT
METHOD o STATUTE
OF FRAUDS o STATUTE
OF LIMITATIONS o STATUTORY
LIEN o STATUTORY
REDEMPTION o STEERING
o STRAIGHT-LINE
METHOD o STRAIGHT
(TERM) LOAN o SUBAGENT
o SUBDIVIDER
o SUBDIVISION
o SUBDIVISION
AND DEVELOPMENT ORDINANCES o SUBDIVISION
PLAT o SUBLEASE
o SUBLETTING
o SUBORDINATION
o SUBORDINATION
AGREEMENT o SUBROGATION
o SUBSTITUTION
o SUBSURFACE
RIGHTS o SUIT
FOR POSSESSION o SUIT
TO QUIET TITLE o SUPPLY
o SUPPLY
AND DEMAND o SURETY
BOND o SURFACE
RIGHTS o SURVEY
o SYNDICATE
o TACKING
o TAXATION
o TAX
CREDIT o TAX
DEED o TAX
LIEN o TAX
SALE o TENANCY
BY THE ENTIRETY o TENANCY
IN COMMON o TENANT
o TENANT
IMPROVEMENTS o TESTATE
o TESTATOR
o TIER
(TOWNSHIP STRIP) o TIME
IS OF THE ESSENCE o TIME-SHARE
o TITLE
o TITLE
INSURANCE o TITLE
SEARCH o TITLE
THEORY o TORRENS
SYSTEM o TOWNSHIP
o TOWNSHIP
STRIPS o TRADE
FIXTURE o TRANSFER
TAX o TRUST
o TRUST
DEED o TRUST
DEED LIEN o TRUSTEE
o TRUSTEE'S
DEED o TRUSTOR
o UNDIVIDED
INTEREST o UNENFORCEABLE
CONTRACT o UNIFORM
COMMERCIAL CODE o UNILATERAL
CONTRACT o UNIT-IN-PLACE
METHOD o UNIT
OF OWNERSHIP o USURY
o VALID
CONTRACT o VA
LOAN o VALUE
o VARIANCE
o VENDEE
o VENDOR
o VOIDABLE
CONTRACT o VOID
CONTRACT o VOLUNTARY
ALIENATION o VOLUNTARY
LIEN o WASTE
o WILL o
WORKERS'
COMPENSATION ACTS o WRAPAROUND
LOAN o ZONING
ORDINANCE
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