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Department of Real Estate (California)
Department of Real Estate (California) The California agency that administers the Real Estate Law, including the licensing of real estate brokers and agents; headed by the Real Estate Commissioner, who is appointed by the Governor and presides over the Real Estate Advisory Commission whose ten members are appointed by and serve at the Commissioner's discretion.
RELATED TERMS--------------------------------------
Agency
1) The relationship that exists when a person, known as the principal, contracts to another, the agent, to perform an act in that person's stead. 2) Common term for a firm offering representation.
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
Commission
Money paid to a real estate agent or broker by the seller as compensation for finding a buyer and completing the sale, usually a percentage of the sale price (6 to 7 percent on houses, 10 percent on land).
Discretion
The level of authority granted to an adviser or manager over the investment and management of a client's capital.
SIMILAR TERMS--------------------------------------
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Demand deposit
A deposit that can be withdrawn at any time without advance notice. The most common type is the checking account.
Demising wall
The partition wall that separates one tenant's space from another or from the building's common areas
Density test
An analysis of soil to determine if the surface can support the foundation of a house.
Density zoning
Zoning ordinances that restrict the maximum average number of houses per acre that may be built within a particular area, generally a subdivision.
Dentils
Small rectangular blocks that project from a building, usually under cornices or along rooflines.
Department of Real Estate (California)
Deposit
A cash lump sum, usually expressed as a percentage of the value of the property, given by the buyer to the seller.
Depreciable basis
In investment real estate only structures can be depreciated. The depreciable basis is the original basis less the value of the land.
Depreciation
Decrease in value to real property improvements due to wear and tear, adverse changes in the neighborhood, or any other reason.
Derivative securities
Securities that are created artificially, i.e., derived from other financial instruments. In the context of CMBS, the most common derivative security is the interest-only strip.
Descent
Acquisition of an estate by inheritance in which an heir succeeds to the property by operation of law.
This dictionary contains 6433 terms. |
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