REA-FC5 2025

The right of a government to acquire property for public use through a court action called condemnation.

• Eminent domain

• Property tax

• Zoning law

• Easement

A document evidencing formal employment between the employer and the employee.

• Employment contract

• Job offer letter

• Employee handbook

• Termination notice

Clauses in a deed limiting the future users of the property.

• Easements

• Deed restrictions

• Covenants

• Liens

The nonperformance of a duty, whether arising under a contract or otherwise.

• Breach

• Default

• Negligence

• Violation

A residential multi-unit building whose title is held by a trust or corporation that is owned by, and operated for, the benefit of persons living within the building.

• Cooperative

• Condominium

• Apartment Complex

• Townhouse

The amount of capital held in a business for its day-to-day operational needs.

• Working Capital

• Fixed Capital

• Equity Capital

• Debt Capital

A method that indicates the value of an intangible asset by comparing estimated profits or cash flows.

• With and Without Method

• Cost Approach Method

• Market Approach Method

• Income Approach Method

The act of entering or recording documents affecting interests in real estate.

• Filing

• Recording

• Notarizing

• Transcribing

The final step in the appraisal process where the appraiser reconciles estimates of value.

• Valuation

• Reconciliation

• Assessment

• Estimation

The added desirability or utility of a property due to its frontage to two streets.

• Corner Influence

• Street Appeal

• Dual Access Benefit

• Property Value Boost