Unit 4 Vocab

What term is used to describe the person who rents property to another under a lease?

• Lessee

• Lessor

• Eviction

• Security Deposit

What is the name of the document that outlines the terms under which a property is rented?

• Rental Inventory Checklist

• Eviction Notice

• Lease

• Security Deposit

What is typically required by a landlord as a protection against potential damages to the property?

• Lease

• Rental Agreement

• Rental Inventory Checklist

• Security Deposit

Who is the person called that is taking possession of the property for rent?

• Lessor

• Eviction

• Lessee

• Rental Inventory Checklist

What is the process called when a tenant is legally removed from a rental property?

• Lease

• Security Deposit

• Rental Inventory Checklist

• Eviction

Which document is used to record the condition of a rental property at the time of moving in?

• Lease

• Rental Agreement

• Rental Inventory Checklist

• Eviction Notice

What term is used to describe the owner's financial interest in a property?

• Negotiation

• Market value

• Equity

• Earnest money

What is the term for the initial payment made to show that a buyer is serious about purchasing a property?

• Contingency clause

• Purchase agreement

• Mortgage

• Earnest money

Which term refers to the price at which a property is offered for sale?

• Asking price

• Market value

• Equity

• Mortgage

What is the name of the legal document that outlines the terms and conditions of a property sale?

• Contingency clause

• Purchase agreement

• Equity

• Negotiation