Studying for your real estate license exam? Check out our resources on all the definitions you need to know while studying for your real estate exam.
Bilateral and unilateral describe how a contract is accepted. A bilateral contract exchanges promises; a unilateral offer invites acceptance by performing the requested act. Both involve more than one person—the distinction is not the headcount. What is a Bilateral Contract? …
Often you will hear real estate agents say a home is “in escrow.” What does that mean? Is escrow a place? Is escrow even needed? Today we are going to find out all the answers! Escrow is a term used …
Free Real Estate Definition Flashcards Alphabetical Real Estate Terms & Definitions List By far the most substantial chunk of the real estate license exam is the vocabulary. The key concepts and words you have to study are essential for obtaining …
Appurtenant means belonging to or associated with something else. An appurtenance is a related right, privilege or improvement that ordinarily passes with the property. Physical attachment is not required: an easement can be an appurtenance too. What Is Appurtenant? Definition: …
Having land connected to water can be a huge plus for some property owners. It also can be sought after by businesses. Water rights can be somewhat complicated when it comes to the legality, but don’t worry; that’s what we’re …
Real estate property holds with it specific rights. These legal rights can be split up and given to different parties and are called the bundle of rights. What is the Bundle of Rights? Definition: When a person purchases property, he …