Ch. 12 & 13 Flashcard

Front

What type of living space has a bathroom and one large room that serves as the living room, bedroom, and kitchen? Options: Penthouse, Dormitory, Apartment Complex, Studio Apartment.

Back

Studio Apartment

Front

Which of the following is NOT shared in an apartment complex?
lobby,
grounds,
bathroom,
laundry facilities

Back

bathroom

Front

Which of the following are NOT tax deductible expense? Property Tax, Mortgage, Apartment Rental, Student Loans

Back

Apartment Rental

Front

The longer you pay a mortgage ________________.

Back

the more you pay over all.

Front

a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment.

Back

Lease

Front

fixed-rate payment with an amortization schedule that provides lower payments early on that then increase over time.

Back

Graduated Payment Mortgage

Front

the amount of money the owner of an asset would be paid after selling it and any debts associated with the asset were paid off.

Back

Equity

Front

the action of expelling someone.

Back

Eviction

Front

the amount for which something can be sold on a given market.

Back

Market Value

Front

The act of assessing something.

Back

Appraisal