REA-FC7 2025

Two or more businesses conspire against other businesses to reduce competition.

• Collusion

• Boycotting

• Price Fixing

• Market Sharing

A description of a specific parcel of real estate sufficient for an independent surveyor to locate and identify it.

• Legal description

• Property outline

• Land survey

• Real estate appraisal

The ownership of real estate by two or more parties who have been named in one conveyance as joint tenants.

• Joint tenancy

• Tenancy in common

• Sole ownership

• Leasehold estate

An agreement that may accompany an earnest money deposit for the purchase of real property as evidence of the purchaser’s good faith and intent to complete the transaction.

• Binder

• Contract

• Escrow

• Addendum

A provision or condition in the purchase of real estate requiring a certain act to be done or an event to happen before the contract becomes binding.

• Contingencies

• Clauses

• Addendums

• Provisions

A contract for the sale of real estate under which the sale price is paid in periodic installments by the purchaser, who is in possession and holds equitable title, although actual title is retained by the seller until final payment.

• Contract for deed

• Lease agreement

• Option to purchase

• Real estate mortgage

A provision that may be included in notes, leases, and contracts by which the debtor, lessee, or obligor authorizes any attorney to go into court to confess a judgment against him or her for a default in payment.

• Judgment clause

• Default provision

• Payment waiver

• Court authorization

A contract between a landlord (the lessor) and a tenant (the lessee) transferring the right to exclusive possession and use of the landlord’s real property to the lessee for a specified period of time and for a stated consideration.

• Lease

• Rental Agreement

• Tenancy Agreement

• Property Management Agreement

The official and authentic decision of a court on the respective rights and claims of the parties to an action or suit.

• Judgment

• Verdict

• Ruling

• Decree

A mortgage that covers more than one parcel of real estate and provides for each parcel’s partial release from the mortgage lien on repayment of a definite portion of the debt.

• Blanket mortgage

• Conventional mortgage

• Subprime mortgage

• Adjustable-rate mortgage