REA-FC10 2025

The theory that land ownership involves ownership of all legal rights to the land, such as possession, control within the law, and enjoyment.

• Bundle of legal rights

• Land tenure theory

• Property rights doctrine

• Real estate ownership model

A real estate broker retained by the buyer who has a fiduciary duty to the buyer.

• Buyer agency

• Seller agency

• Dual agency

• Transaction brokerage

The statistical study of human populations, especially in reference to size, density, and distribution.

• Sociology

• Demography

• Anthropology

• Geography

A personal judgment levied against the mortgagor when a foreclosure sale does not produce sufficient funds to pay the mortgage debt in full.

• Deficiency judgment

• Equity judgment

• Foreclosure judgment

• Mortgage lien

A public notice that a lawsuit affecting title to or possession, use, and enjoyment of a parcel of real estate has been filed.

• Lis pendens

• Adverse possession

• Easement

• Quiet title

Unpaid taxes that are past due.

• Delinquent taxes

• Deferred taxes

• Exempt taxes

• Accrued taxes

The willingness of persons to buy available goods at a given price; often coupled with supply.

• Supply

• Demand

• Cost

• Price

The sum of the discount rate (interest rate) and capital recapture (similar to depreciation rate).

• Building Capitalization Rate

• Net Present Value

• Internal Rate of Return

• Return on Investment

A loss of value in property due to all causes, including physical deterioration, functional obsolescence, and economic obsolescence.

• Depreciation

• Appreciation

• Valuation

• Investment

The hereditary succession of an heir to the property of a relative who dies intestate.

• Inheritance

• Descent

• Succession

• Bequest