REA-FC6 2025

The act of putting an end to a contract by mutual agreement of the parties.

• Mutual rescission

• Contract termination

• Breach of contract

• Contractual dissolution

A property regarded as undesirable because of events that have occurred on the property.

• Stigmatized property

• Undesirable property

• Contaminated property

• Vacant property

The principal unit of the rectangular survey system, a square with six-mile sides and an area of 36 square miles.

• Section

• Parcel

• Township

• Range

The laws, regulations, and codes enacted by the governing body of a municipality.

• Municipal ordinances

• State laws

• Federal regulations

• Local statutes

An exclusive listing with the additional authority and obligation on the part of the listing broker to distribute the listing to other brokers.

• Exclusive listing

• Open listing

• Multiple listing

• Broker's agreement

More than one buyer's broker presents an offer on one property where the offers are negotiated at the same time.

• Single Offer

• Multiple Offers

• Counter Offer

• Exclusive Listing

An instrument used to create a lien by which the trustor conveys his or her title to a trustee, who holds it as security for the benefit of the note holder.

• Trust deed

• Mortgage

• Promissory note

• Security agreement

A lien imposed on property by statute, for example, a tax lien.

• Statutory lien

• Voluntary lien

• Judicial lien

• Equitable lien

A method of evidencing title by registration with the proper public authority, generally called the registrar.

• Torrens system

• Deed system

• Title insurance

• Leasehold system

Articles installed by a tenant under the terms of a lease and removable by the tenant before the lease expires.

• Trade fixtures

• Permanent fixtures

• Common areas

• Leasehold improvements