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Real estate advisory commission
Real estate advisory commission A ten member panel appointed by the Real Estate Commissioner, who preside over meetings.
RELATED TERMS--------------------------------------
Panel
A section or division of a wall, ceiling or a flat piece of building material that forms the part of the surface of a wall, door or cabinet.
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
SIMILAR TERMS--------------------------------------
Real estate
Land and everything permanently attached to land; sometimes used interchangeably with the terms real property and realty.
Real estate agent
A person licensed to negotiate and transact the sale of real estate.
Real estate assistant
A real estate assistant is a combination of office manager, marketer, organizer and facilitator with a fundamental understanding of the real estate industry.
Real estate attorney
A lawyer who specializes in the transfer of land and buildings and property tax issues.
Real Estate Board
An organization whose members consist primarily of real estate professionals such as brokers.
Real estate broker
An agent licensed by the state to carry on the business of operating in real estate.
Real estate brokerage
A Real Estate Brokerage is a business in which real estate license-related activities are performed under the authority of a real estate broker.
Real estate commissioner
The Real Estate Commissioner is appointed by the governor and serves at the governor's discretion. The commissioner determines administrative policy and enforces that policy in the best interests of those dealing with real estate licensees.
Real estate dealer
A real estate dealer holds property primarily for resale to customers in the course of business, in contrast to a real estate investor who holds property for personal investment.
Real Estate Educators Association (REEA)
A professional organization established by and for real estate educators, including individuals and institutions. REEA is international in scope and represents every aspect of real estate education.
Real estate fundamentals
The factors driving the value of real property (i.e., the supply, demand and pricing for land and-or developed space in a given geographic or economic region or market).
Real Estate Investment Trust (REIT)
A method of pooling investment money using the trust form of ownership. In the 1960s Congress provided favored tax treatment for certain business trusts by exempting from corporate tax certain qualified REITs that invest at least 75 percent of their assets in real estate and that distribute 95 percent or more of their annual real estate ordinary income to their investors.
Real estate investor
A real estate investor holds property for personal investment reasons, in contrast to a real estate dealer who holds property primarily for resale to customers.
Real estate land
A portion of the earth's surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached to it, whether naturally or artificially.
Real estate license law
State law enacted to protect the public from fraud, dishonesty and incompetence in the purchase and sale of real estate.
Real Estate Mortgage Investment Conduit (REMIC)
A tax entity that issues multiple classes of investor interests (securities) backed by a pool of mortgages.
Real estate owned (REO)
A term used by lenders to refer to properties acquired through foreclosure.
Real estate recovery fund
A fund established in some states from real estate license revenues to cover claims of aggrieved parties who have suffered monetary damage through the actions of a real estate licensee.
Real estate salesperson
A person performing any of the acts included in the definition of real estate broker but while associated and supervised by a real estate broker.
Real Estate Settlement Procedures Act (RESPA)
A consumer protection law that requires lenders to give borrowers advance notice of closing costs.
Real Estate Syndicate
When partners (either with or without unlimited liability) form a partnership to participate in a real estate venture.
Real estate tax
A pecuniary charge laid upon real property for public purposes.
Real estate transfer disclosure statement
As required by California Civil Code Sections 1102-1102.14, a transferee (buyer) of residential real property is entitled to a statement from the transferor (seller) which provides information regarding the physical condition of the property.
Real property
Land and any capital improvements (e.g., buildings) erected on the property.
Real property securities dealer
A real property securities dealer is a broker who sells an existing trust deed and guarantees a return on it.
Real property security
A guaranteed loan or a loan where the broker will assume payments.
Real rate of return
Yield to investors net of an inflationary factor. The formula for calculating the real rate of return is [(1 + nominal yield) - (1 + inflation rate)] - 1.
Reality of consent
Although a contract may meet all of the basic requirements, it may still be void or voidable, according to the realty of consent, which states that a contract must be entered into as a free and voluntary act of each party, and each party must be able to make a prudent and knowledgeable decision without undue influence.
Realized capital gain
When a property is sold, a capital gain or loss is realized.
Realtist
A member of a national organization, generally composed of African-American real estate brokers, known as the National Association of Real Estate Brokers (NAREB).
REALTOR
A real estate agent, broker or an associate who holds active membership in a local real estate board that is affiliated with the National Association of Realtors.
REALTOR Associate
Salesperson associated with a broker who is a member of a the NATIONAL ASSOCIATION OF REALTORS.
REALTOR's Code of Ethics
A written system of standards of ethical conduct. Because of the nature of the relationship between a broker and a client or other persons in a real estate transaction, a high standard of ethics is needed to ensure that the broker acts in the best interests of both the principal and any third parties.
Realty
A synonym for real estate.
PREVIOUS AND NEXT TERMS--------------------------------------
Raw land
Unimproved land that remains in its natural state.
Raw space
Unimproved shell space in a building.
Ready, willing and able buyer
One who is prepared to buy property on the seller's terms and is ready to take positive steps to consummate the transaction.
Reaffirmation agreement
An agreement by a Chapter 7 debtor to continue paying a dischargeable debt after the bankruptcy, usually to keep collateral or mortgaged property that would otherwise be subject to repossession.
Real estate
Land and everything permanently attached to land; sometimes used interchangeably with the terms real property and realty.
Real estate advisory commission
Real estate agent
A person licensed to negotiate and transact the sale of real estate.
Real estate assistant
A real estate assistant is a combination of office manager, marketer, organizer and facilitator with a fundamental understanding of the real estate industry.
Real estate attorney
A lawyer who specializes in the transfer of land and buildings and property tax issues.
Real Estate Board
An organization whose members consist primarily of real estate professionals such as brokers.
Real estate broker
An agent licensed by the state to carry on the business of operating in real estate.
This dictionary contains 6433 terms. |
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