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Free Florida real estate pracitce exam to help you get your Flroida real estate license. Florida Real Estate State Exam Practice Test Exam 1 Go Back to Exams Take Quiz Two here

Here are a few example letters that you can send to your family and friends as an agent at Park Place Realty Network. Marketing Guide Letters that you can send to your friends & family Below are a few examples of letters that you can send to your friends and family. Put a list together of all of your friends and family that you feel comfortable mailing a letter to with their mailing address. Simply copy and paste one of the below letters into a word document, fill in some of the “blanks”, and mail it to them. Your best source of referral business always is your friends and family. Mailing them a personalized letter is sure to get in their hands and that way they know what you do as a referral agent. These can also work in a personalized email to your friends and family. These are just examples, feel free to edit to fit your style. Referral Letter 1 Hi (Friend, Family), (Write a personalized note in the first paragraph or two, or more if you need to). I wanted to let you know that I have my Real Estate license with a company called Park Place Realty Network. This company is not your standard Real Estate Company as they specialize in setting people up with the top Real Estate Agent in their market. If you are looking to buy or sell any type of Real Estate, anywhere in the world, please let me know. I am able to notify my company with what you are looking to do, they will do the research to find out who the top agents are in the market where you are looking to handle your real estate transaction. They can then match you up with a top agent who can assist you in your transaction at no cost. Please also keep me in mind if you have anyone else that you know of that is looking to buy or sell. You can get more details here on my website (your website address). If you have any questions on how this works, please let me know. Take care! Your name Phone Email Website address Referral Letter 2 Hi (Friend, Family), (Write a personalized note in the first paragraph or two, or more if you need to). I wanted to write you this letter to catch up and also let you know of ways we could help each other. I’m with a company called Park Place Realty Network. They specialize in connecting people with the right real estate agent, which costs you nothing for their service. If you are looking to buy or sell any type of real estate, anywhere in the world, let me know. I would just need to find out what you are looking to do. From there, I would notify my company of all of the details. They would then do the research to find out who the top real estate agent is in your market for you to work with. The problem with working with just any agent is that there are so many out there to work with (over 1 million in the U.S. alone). They are able to see who the true agents are with a proven track record to make sure you’re working with a legitimate agent. You can get more details on my website at (your website address). If you have any questions, please let me know. Take care! Your name Phone Email Website address Referral Letter 3 Hi (Friend, Family), (Write a personalized note in the first paragraph or two, or more if you need to). I wanted to keep you posted on what I have been up to with work as it might be able to help both of us. I have my real estate license active with this great company that gives me completely different options than your standard real estate company. If you are looking to buy or sell any type of real estate, please let me know. I am able to match you up with a top real estate agent throughout the world who can help you with your transaction, that way you are in good hands. My company has a database that is able to tell who the top agents are with a proven track record. There is no cost for you to use this service through me. Please also keep me in mind if you happen to have anybody else that you might know of. You can get more details here on my website (your website address). If you have any questions on how this works, please let me know. Take care! Your name Phone Email Website address New Homes Construction Letter Hi (Friend, Family), (Write a personalized note in the first paragraph or two, or more if you need to). If you or anyone that you know is looking to purchase new construction, please let me know. I have my real estate license with a company that allows me to work with builders throughout the entire state of (state where your license is in). Where a builder will only tell you about new construction within that builders company, I am able to see what’s available with all builders! That way you can find the best community for the best price. You can view all new construction properties here on my website at (insert your new home website here). If you have any additional questions on this, please let me know. Take care! Your name Phone Email Website address Above are just a few examples of letters that you can send to your personal contacts. Think of the many other ways that you can reach out to potential sellers like owners who recently had a liz pendens filed against their property and they need to sell before a potential foreclosure. Or, owners of commercial real estate that let their properties sit vacant in your local town. The list can go on and on as real estate is a vast industry, and there are potential referrals in all of it. Let us know if you have any questions or concerns or you want to talk about your own ideas on how to generate potential referral business.

Our company will sponsor your Georgia real estate license so you can go active as soon as you pass the Georgia real estate state exam. Let Park Place be your Georgia Sponsoring Broker The application for you to obtain your Georgia real estate license will ask you for the name of your Sponsoring Broker so that your license can become Active immediately after passing their state exam. Park Place Realty Network is the top company for new agents to use as their Sponsoring Broker so that they can be Active right away. See the steps below in order to become active with us once you pass the Georgia real estate state exam. Step 1: Sign our contract and pay our $125 annual administration fee here on our website . Step 2 . Park Place will email you the PSI Testing Centers "Sponsoring Broker Statement Form" with our Georgia Brokers signature as your Sponsoring Broker so that way you can present this to them at the testing center. You can access all of their forms here . Step 3. Once you pass the Georgia state exam, the Georgia Real Estate Commission will process your application and make your license active under Park Place Realty Network. We will email you back our executed contract with all the details. Park Place is a great choice for new agents who are getting their Georgia real estate license. We are not members of the Realtor/MLS associations like the majority of real estate companies. Since we are not members, you will not be required to pay their $1,200+ in annual fees in order to be active. By being active with us right away, you will now start the clock with GREC to get your Broker’s license in 3 years. You can place your license with us and leave us at any time to go and work for the company that might fit you best. Go to the main page of our website here to see why over one thousand agents have trusted us to place their license with Park Place. If you have any questions or concerns, please send us an email at admin@parkplacenetwork.com or call us at 407-878-0607. *If you are getting a Georgia reciprocal license instead of a new licensee, you can get more details on this here .

Practice for the Florida real estate state exam online with our practice tests through our website at no cost here. Florida Real Estate State Exam Practice Tests Online for Free Below are 100 practice exam questions to help you take the Florida real estate state exam. These questions were put together by Gold Coast Schools, a leader in real estate education in the state of Florida. Feel free to take these exams as much as you would like at no cost. Best of luck on passing the exam! *These are only practice questions and are not the exact questions on the state exam. Reminder: Bookmark this page in your computer for future use. Step 1. Practice to pass the State Exam. Click on the Exam that you would like to take below, each exam has 20 questions: Take Exam 1 questions 1-20 Take Exam 2 questions 21-40 Take Exam 3 questions 41-60 Take Exam 4 questions 61-80 Take Exam 5 questions 81-100 The Real Estate Dictionary Pro Tip: If you fail the Florida state exam, you can review every question that you got wrong with the correct answer, the testing center will give you 1 hour for your review. This is a great way to help you pass future tests. Contact PearsonVue to get all the details and to schedule your review at 888-204-6289. Step 2. On ce you pass the State Exam: Activate your license with Park Place, you can start with us and move to another company at a later date. You can sign up here . You will get 40% off of all your future CE and real estate education with our affiliation through The CE Shop. Activate with us right away to start your 2 year requirement to get your Brokers license. Print or download the answers to the above exams here.

View the terminology through the Real Estate Dictionary with Park Place Realty Network. Menu Real Estate Agent Dictionary Bookmark this page as a resource for real estate terms. A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z A A ABANDONMENT The voluntary surrender of property rights, with no intention of reclaiming them and without vesting interest in another person. Nonuse is not necessarily abandonment. ABSTRACT A history of the ownership of a property, showing transfers in ownership and factors affecting ownership, such as mortgages. ABUTTER A person whose property abuts, is contiguous, or joins at a border or boundary; where no other land, road or street intervenes. ACCELERATION CLAUSE A clause in a promissory note, agreement of sale, or mortgage which gives the lender the right to call all sums due and payable in advance of the fixed payment date upon the occurrence of a specified event, such as a sale, default, assignment or further. ACCEPTENCE The expression of the intention of the person receiving an offer (offeree, usually the seller) to be bound by the terms of the offer. The acceptance must be communicated to the offeror and must be in writing to be enforceable. ACCESSION Acquisition of title to additional improvements to real property as a result of annexation of fixtures or of accretion of alluvial deposits. ACCRETION An increase in dry land by gradual deposit of waterborne, solid material and riparian land, i.e., accretion by alluvion. The owner of riparian land becomes owner of title to land formed by accretion. Antonym: erosion. ACCRUED DEPRECIATION The difference between the present worth of improvements and the reproduction or replacement cost new, both measured on the appraisal date. ACKNOWLEDGMENT A formal declaration made before an authorized official by a person executing a document, that he signs the document by a free act and deed. The official is usually a notary public who witnesses the signature and verifies the identity of the person. ACQUISITION act of becoming the owner of certain property; used also of the thing or property acquired. ACRE A measure of land equaling 43,560 square feet; or 4,840 square yards; or 160 square rods; or a tract about 208.71 feet square ACRE FOOT OF WATER A volume of water that will cover an area of one acre to the depth of one foot: 43,560 cubic feet. ACTIVE INSTALLATION An installation in continuous use by active Army organizations. AD VALOREM TAX A tax on the value of the object or thing subject to taxation. ADMINIDTRATOR A person appointed by the court to manage and settle the estate of a deceased person who has left no will. ADVERSE POSSESSION Acquisition of title to real property owned by someone else, by open, notorious, and continuous possession for the statutory period of time. AFFIDAVIT written declaration, sworn before an officer who has authority to administer oaths. AGREEMNET OF SALE A written agreement whereby the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth in the agreement. AIR RIGHTS The rights vested by a grant of an estate in real property to build upon, occupy, or use, in the manner and degree permitted, all or any portion of space above the ground or any other stated elevation within vertical planes. ALIENATION The voluntary transfer of real property from one person to another. ALLOCATION An amount of obligational authority transferred from one agency, bureau or account and set aside in a transfer appropriation account to carry out the purposes of the parent appropriation or fund. ALLOTMENT Authorization by the head of an agency to subordinates to incur financial obligations up to a specified amount. An agency makes allotments under the regulations in OMB Circular No. A-34, and not to exceed the amount allowed by OMB. ALLUVION A kind of accretion on riparian land by action of water which deposits sediment. See also ALLUVIUM, AVULSION. ALLUVIUM Sand, clay or mud deposited as sediment on riparian land. AMENITIES Tangible and intangible benefits generated and received through exercise of rights to real property, not necessarily in the form of money. AMORTIZATION Liquidation or gradual retirement of a financial obligation by periodic installments. AMORTIZATION PERIOD The period of time for economic recovery of the net investment in a project. ANGLE A measure of rotation about a point, generally used in surveys to show the relationship of one line to another. ANIMAL UNIT A measure of numbers of livestock equivalent to a mature cow. One A.U. equals 1,000 pounds live weight, or one cow, horse, or mule; five sheep or swine; six goats. ANIMAL UNIT MONTH A measure of forage or feed sufficient to feed one ANIMAL UNIT for 30 days. Usually expressed relative to acres of land. ANNEXATION The act of attaching, adding or joining one thing to another, generally a smaller or subordinate thing with a large or principal thing. Usually with respect to land or fixtures. APPORTIONMENT A distribution by OMB of amounts available for obligation in an appropriation or fund account, including budgetary reserves established by law. APPRAISAL - A written estimate and opinion of value; a conclusion resulting from the analysis of facts. APPRAISER One qualified by education, training, and experience who is hired to estimate the value of real and personal property based upon experience, judgment, facts, and the use of the formal appraisal processes. APPRECIATION An increased conversion value of property or mediums of exchange due to economic or related causes which may prove to be either temporary or permanent. APPROPRIATION Authorization by act of Congress permitting Federal agencies to incur obligations and make payments out of the 'treasury for specific purposes. APPROPRIATIONS BILL A bill that gives legal authority to spend or obligate money from the Treasury. An appropriations bill usually provides the actual monies approved by authorization bills, but not necessarily the full amount permissible. APPURTENANCE Something annexed to another principal thing and which passes as incident to it, for example a right of way or barn passing with a principal property. ASSESSED VALUATION An assessment of property values, by a unit of Government, for purposes of taxation. ASSESSMENT A charge against real estate made by a unit of government to cover a proportionate cost of an improvement, such as street or-sewer. ASSETS All valuable things owned by a person, corporation, or other entity, encumbered or not. ASSIGNMENT (OF TEASE) A transfer to another of rights, interest, or claim in or to real or personal property. The party who assigns or transfers his interest is the assignor, and the assignee is the one to whom the assignment is made. ASSUMPTION AGREEMENT An undertaking of a debt or obligation primarily resting upon another person. ASSUMPTION OF MORTGAGE The taking of title to property by a grantee wherein he assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property. ATTACHMENT The legal process of seizing the real or personal property of a defendant in a law suit, by levy or judicial order, and holding it in the custody of the court as security for satisfaction of the judgment. ATTORNEY IN FACT A person authorized to perform certain acts for another person, under power of attorney. AUDIT An examination of records of real estate transactions to verify accuracy and adequacy. AUTHORIZATION BILL Legislation to establish or continue the legal operation of a Federal program or agency, or to sanction a particular type of obligation or expenditure. Normally a prerequisite for an appropriation or other kinds of budget authority. AVIGATION EASEMENT The right granted by a land owner to an airport to use airspace above a specified height for the flight of aircraft. The owner may be prohibited from using the land for structures, trees, signs, stacks, etc. higher than a specified measure. AZIMUTH The angle between A reference line,-usually north and south, and a line to an object, measured clockwise from south in Corps of Engineers surveying. B B Go back to the menu. BALLOON PAYMENT final payment on a note. It is usually substantially larger than any of the preceding installments. BASE LINE AND MERIDIAN Established lines used by surveyors to locate and describe land under the rectangular survey method of property description used in most states. The first north-south line is the principal meridian; the first east-west line is the base line. BASE MAP A map with reference points - such as state, county, township, or state and geodetic coordinate lines, or other features - on which land ownership data can be plotted. BATTURE LAND Land between low tide water's edge and river bank or levee. Batture land is generally in the same ownership as abutting land, but may be sold separately. BEARING The cardinal direction (North, South, East, West) of a line; e.g., North 50 degrees, 30 minutes West. BENCH MARK A mark of known elevation affixed to a permanent reference or monument, such as an iron post or brass marker, usually embedded in cement or a concrete structure and used to establish elevations over other surveys in the area. BENEFICIARY A person who receives and benefits from the gifts or acts of another, such as one who is designated to receive the proceeds from a will or trust. BEQUEATH To leave personal property to another by will. To leave real property by will is to devise. BILL OF SALE A written instrument transferring title, right, and interest in personal property to another. BINDER An agreement to cover an earnest money deposit for the purchase of real property as evidence of the purchaser's good faith and intention to complete the transaction. BLANKET MORTGAGE A single mortgage which covets more than one piece of real estate. BOND Any obligation under seal. A real estate bond is a written obligation, usually issued on security of a mortgage or a trust deed. BORROW PIT Location where borrow material is removed; resulting depression. BREACH OF CONTRACT Violation of any of the terms or conditions of a contract without legal excuse. BUDGET AUTHORITY The authority to enter into obligations that will result in immediate or future expenditure of Federal funds. The three main kinds of budget authority ate appropriation, contract authority, and borrowing authority. BUNDLE OF RIGHTS Beneficial interests or rights which attach to the ownership of real property, including the right to sell, lease, encumber, use, enjoy, exclude, will, etc. C C Go back to the menu. CADASTRAL Public record of the extent, value and ownership of land; land surveying and mapping. CAPITALIZATION In appraising, determining value of property by considering net income and percentage of reasonable return on the investment. CAPITALIZATION RATE The percentage ratio between net income from investment and the value of the investment. Commonly expressed as "return on and return of" capital. CARTOGRAPHY The science or act of making maps. CASH VALUE The actual money that an Asset will bring on the open market without any lengthy delay. CAVEAT EMPTOR "Let the buyer beware" is Latin. Summarizes the rule that the buyer must examine, judge and test merchandise/property for himself. CERTIFICATE OF NO DEFENSE A legal instrument executed by a mortgagor setting forth the exact unpaid balance of a mortgage, the current rate of interest, and the date to which interest has been paid. CERTIFICATE OF TITLE A document stating that title to a particular property is clear. It is prepared by an attorney or qualified person who has examined the abstract of title, but is not to be confused with title insurance. It is only an opinion that title is good. CHAIN A surveyor's unit of linear measure: 66 feet. Also, any length steel tape used to measure distance. CHATTEL Personal property which is tangible and movable. (The word "chattel" evolved from the word "cattle", one of man's early important possessions.) CIVIL ACTION Legal action brought to enforce, redress or protect private rights. All proceedings except criminal proceedings. CIVIL RIGHTS ASSURANCE Assurance that no person will be discriminated against or excluded from operations, programs or activities on the basis of race, color, age, sex, religion, handicap or national origin. CLEAR TITLE A title free and clear of all encumbrances. CLOSING STATEMENT An accounting by a broker of funds in a real estate sale, made to the seller and to the buyer. CLOUD ON TITLE An outstanding claim or encumbrance which would affect or impair the owner's title, if valid. A judgment or dower interest. COINSURANCE A relative division of risk between the insurer and insured, depending on relative amount of the policy and the actual value of the property insured. COLLOCATE Sharing of one property by more than one user; especially armed forces recruiting facilities. COLLATERAL HEIR one who is not in the direct line of the deceased, but from a collateral line, as a brother/ sister, aunt/uncle, nephew/niece or cousin of the deceased. COLLATERAL SECURITY A separate obligation attached to a contract to guarantee its performance; the transfer of property or of other contracts or valuables, to ensure the performance of a principal agreement. COLOR OF TITLE The appearance of title (also called "apparent title"). Any fact, extraneous to the act or will of the claimant, which appears, on its face, to support his claim of title but, because of defect, falls short of establishing title. COMMAND OPERATING BUDGET The Command Operating Budget (COB) estimates costs of resource decisions and justifies command requirements. COMMERCIAL CONCESSION A special business arrangement usually made at a civil works project by leasing Army controlled real property to a private party who provides recreational services and facilities to the public at fair market value while seeking to make a profit. COMMITMENT OF FUNDS of funds prior to obligation for a specific purpose, based on an estimate. COMMON ELEMENT In a condominium, land and parts of buildings used by all owners for mutual convenience and safety. See CONDOMINIUM COMMON EXPENSE In a condominium, expenses of operation and sums declared by the bylaws to be common expense. COMMUNITY PROPERTY Property accumulated through joint efforts of husband and wife, or by either one, during their marriage and owned in common. COMPARABLE Properties listed in an appraisal report which are substantially equivalent to the subject property, comparable in selling price, rental, income or similar measure. COMPENSABLE INTEREST Interest of parties that is to be compensated. COMPLIANCE INSPECTION Inspection of outgrants, military and civil, for compliance with terms of the outgrant and to review management/development of the property, particularly of outgrants which provide services to the general public. COMPOUND INTEREST Interest paid both on the original principal and on interest accrued from the time it fell due. CONCESSION privilege granted to an individual by the Government, to sell food, etc., on Government land. CONCURRENT LEGISLATIVE JURISDICTION Legislative jurisdiction held by the United States concurrently with a state; the state grants to the U.S., and reserves to itself, the right to exercise the same legislative authority. CONDEMNATION In real property law, the process by which property of a private owner is taken for public use, with just compensation to the owner. Condemnation occurs under the right of eminent domain. CONDITION SUBSEQUENT A condition which, if it occurs, will defeat an existing estate in real estate or terminate an existing obligation. CONDITIONAL COMMITMENT A commitment for a loan subject to one or more conditions. CONDITIONAL SALE CONTRACT contract whereby the owner retains title to the property until the purchaser has met all of the terms and conditions of the contract. CONDOMINIUM Fee ownership of a unit in multi-unit building with joint ownership of common areas. CONSIDERATION An act or forbearance, or the promise thereof, which is offered by one party to induce another to enter into a contract; that which is given in exchange for something from another. CONSTRUCTIVE EVICTION Breach of a covenant of warranty or quiet enjoyment; for example, the inability of a purchaser or lessee to obtain possession by reason of a paramount outstanding title. CONSTRUCTIVE NOTICE Often called legal notice, the conclusive presumption that all persons have knowledge of the contents of a recorded instrument. CONTAMINATION Presence of unexploded conventional ordnance, or of biological, radioactive, toxic chemical, or hazardous substances. CONTINUING RESOLUTION Congressional legislation providing budget authority for Federal agencies and/or activities to continue operating until regular appropriations are enacted. CONTOUR LINE A line connecting all points of the same elevation on a part of the earth's surface, represented by a continuous line on a topographic map. CONTRACT An agreement, either oral or written to do or not to do certain things. In real estate, there are many different types of contracts. CONTRACT RENT Payment for use of property, as specified in a lease. CONVENTIONAL MORTGAGE A mortgage on real estate securing a loan made by a private investor, not guaranteed by a Government agency such as FHA or VA. CONVEYANCE The transfer of title to real property by means of a written instrument, such as a deed. COOPERATIVE Multi-unit building owned by a corporation, each owner holding stock equal to the value of his apartment. Title is proprietary lease. COST OF REPRODUCTION The normal cost of exact duplication of a property with the same or closely similar materials as of a certain date or period. COURSES AND DISTANCES A method of describing or locating real property; this description gives a starting point and the direction and lengths of lines to be run; practically indistinguishable from a metes and bounds description. COVENANT A written agreement in a deed which pledges that either party will perform or abstain from specified acts on a certain property, or which specifies or forbids certain uses of the property. CURTESY The common law life estate of a husband to land his wife possessed in fee at her death. This interest has been abrogated as modified by statute in many states. D D Go back to the menu. DAMAGES Compensation or indemnity recovered through the courts by any person who has suffered loss, detriment or injury to person, property or rights. A sum of money awarded to a person injured by an act of another. May be compensatory or punitive. DEBT SERVICE Periodic payment on a debt, for interest on and retirement of the principal. DECLARATION OF TAKING Part of a condemnation package; a document stating the need for the property, describing the property, and stating that the property is being taken by eminent domain. DEDICATION The application of privately-owned land to the public for no consideration, with the intent that the land will be accepted and used for public purposes. A landowner may dedicate the entire fee simple interest, or an easement such as a public right-of-way. DEED A legal instrument in writing, duly executed, sealed, and delivered, whereby the owner of real property (grantor) conveys to another (grantee) some right, title, or interest in real estate. DEED RESTRICTION A provision in a deed controlling or limiting the use of the land. DEFAULT Failure to perform a specific, required legal duty. DEFERRED MAINTENANCE Existing but unfulfilled requirements for repairs and rehabilitation, deferred until a later date. DEFICIENCY JUDGMENT At a foreclosure sale, the difference between the indebtedness sued upon and the sale price or market value of the real estate. See also DEFICIENCY PAYMENT. DEFICIENCY PAYMENT Additional compensation required in a final judgment in condemnation proceedings. See also DEFICIENCY JUDGMENT. DEPRECIATION A lowering of value. A reduction; lessening. The decline in value of property. Loss in market value. Deterioration over a period of time. The opposite of appreciation. DESCENT Succession to ownership of an estate by inheritance. Title by which one person, upon death of another, acquires real estate of the latter as an heir at law. The person who inherits is controlled by state statutes. DETERIORATION Impairment of condition. One of the causes of depreciation and reflecting the loss in value brought about by wear and tear, disintegration, use in service, and the action of the elements. DEVISE A transfer of real property under a will. The donor is the devisor and the recipient is the devisee. Where there is no will, the real property "descends" to the heirs. DISCOUNT (1) That which can be taken off the established amount. Mortgages, for example, are frequently discounted when paid in advance of maturity. (2) A sum paid to obtain certain preferred mortgages, as the payment of points to a lending institution for FHA. DISPOSAL An authorized method of permanently divesting the Government of control and responsibility for real and personal property. Sale of Government-owned property. DISPOSSESS To deprive a person of possession and/or use of real property. DOWER A common law estate in land given to the wife in her husband's real property upon his death, consisting of a life estate in one-third of all the real estate owned by the husband during the marriage. DURESS Forcing action or inaction against a person's will. E E Go back to the menu. EASEMENT A privilege or right which the owner of one parcel of land may have to use or enjoy the lands of another, i.e., a right-of-way. EASEMENT APPURTENANT An easement which is attached to, accompanies, and passes with a greater interest; it has no existence apart from the superior interest. Also called PERTAINING EASEMENT. EARNEST MONEY The cash deposit made by a purchaser of real estate as evidence of good faith. ECONOMIC LIFE The period over which a property will yield a return on the investment, over and above the economic or ground rent due to land. ECONOMIC OBSOLESCENCE Impairment of desirability or useful life arising from economic forces, such as changes in optimum land use, a legislative enactment which restrict or impair property rights, and changes in supply-demand relationships. EFFECTIVE AGE Age in years, indicated by the condition and utility of a structure. EJECTMENT A form of action to regain possession of real property, with damages for the unlawful retention. ELEVATION Surveying: The distance above or below a datum. Architecture: A sketch of the front or side of a building. EMBLEMENTS Growing crops (called "fructus industriales") which are produced annually through labor and industry. Emblements are regarded as personal property even prior to harvest; thus, a tenant has the right to take the annual crop, even if the harvest does not. EMINENT DOMAIN The right of the government, both state and federal, to take private property for a necessary public use, with just compensation paid to the owner. Through eminent domain, the state may acquire land. ENCROACHMENT Trespass; the building of a structure or any improvements partly or wholly intruding upon the property of another. ENCUMBRANCE Any claim, lien, charge or liability attached to and binding upon real property which may lessen the value of the property but will not necessarily prevent transfer of title. There are two general classifications of encumbrances. ENDANGERED SPECIES Plants and animals which are in danger of extinction throughout a significant portion of their ranges, as listed by U.S. Department of Interior. ENGINEERING FEASIBILITY STUDY Evaluation of a proposed construction at a particular site, to determine whether the proposed project is economically, structurally, and environmentally feasible. ENVIRONMENTAL IMPACT ASSESSMENT Analysis of a proposed action; the basis for deciding whether the proposed action will have a significant impact on the environment. ENVIRONMENTAL IMPACT STATEMENT A detailed, full-disclosure report pursuant to National Environmental Policy Act of 1969 (NEPA). An EIS identifies and analyzes the anticipated environmental impact of a proposed action, discusses how adverse effects will be mitigated. EQUITY In real estate, the interest or value of the real estate over and above the amount of the indebtedness thereon. EQUITY OF REDEMPTION Also known as Statutory Redemption or Redemption. The right of the mortgagor, before a foreclosure sale, to reclaim property which has been forfeited due to mortgage default. EROSION Wearing away land through processes of nature, for example by streams and wind. ESCALATION CLAUSE A clause in a lease which causes a rent increase, contingent on a specific action. ESCHEAT The reverting of property to the state by reason of failure of person legally entitled to hold or when heirs capable of inheriting are lacking. ESCROW In real estate, it is the state or condition of a deed which is conditionally held by a third party, called the escrow agent, pending the performance or fulfillment of some act or condition. ESCROW AGREEMENT A written agreement between two or more parties whereby the grantor, promisor or obligor, delivers certain instruments or property into the hands of a third party, the escrow agent. ESTATE In real estate it refers to the degree, quantity, nature, and extent of interest which a person has in real property, such as a fee simple absolute estate, an estate for years. ESTATE AT SUFFERANCE An estate in land arising when the tenant wrongfully holds over after the expiration of his term. ESTATE FOR LIFE A freehold estate, not of inheritance, but which is held by the tenant for his own life or the life or lives of one or more other persons, or for an indefinite period that may extend for the life or lives of persons in being. ESTATE FOR YEARS An interest in land for a fixed period of time, from one day upwards; often called a tenancy for years. ESTATE FROM PERIOD TO PERIOD An interest in land where there is no definite termination date but the rental period is fixed at a certain sum per week, month or year; often called tenancy from year to year. ESTATE IN REVERSION The residue of an estate left in the grantor to commence in possession after the termination of some particular estate. ESTOPPEL A legal doctrine which prevents one from asserting rights that are inconsistent with a previous position or representation. ESTOVERS Wood which a tenant is allowed to take from the landlord's premises for the necessary fuel, implements, repairs, etc., of himself and his (resident) servants. ET AL. Abbreviation for et alii, Latin meaning and others. ET UX. Abbreviation for et uxor, meaning and wife. ET VIR Latin meaning and husband. EVICTION Dispossession by process of law; the act of depriving a person of the possession of lands he has held pursuant to a judgment of the court. EXCESS Designates real property which is no longer required by the Federal agency accountable for it. EXCESSING The process of determining that real estate is not needed by the Army; reporting excess property to the disposal agency for disposal. EXCHANGE Disposal of any real interest by exchanging it for another real interest of equal value instead of cash. EXCLUSIVE LEGISLATIVE JURISDICTION Jurisdiction under which the Federal Government holds all the authority of a state legislate over a particular area, except authority to serve process in cases arising from occurrences outside of the area. EXECUTOR An individual or institution designated in a will and appointed by a court to settle the estate of the testator. EXPERT WITNESS Persons with particular knowledge or skill which enables them to give an opinion on the facts in dispute. F F Go back to the menu. FAIR MARKET VALUE Legal term synonymous with MARKET VALUE. FEE When applied to property, an inheritable estate in land. FEE SIMPLE The most comprehensive ownership of real property known to law; the largest bundle of ownership rights possible in real estate. Fee simple title is sometimes referred to as "the fee". FEE TAIL An estate or interest in land which cannot be conveyed but which must descend to the heirs of the holder; abolished in most states. FIRST MORTGAGE The mortgage on property that is superior in right to any other mortgage. FIXTURE chattel which is affixed to and becomes a part of real property. FORECLOSURE Procedure whereby property pledged as security for a debt is sold to pay the debt in event of default in payments or terms. FOREIGN EXCESS REAL ESTATE Excess real property located outside the U.S., Puerto Rico, American Samoa, Guam, the Trust Territory of Pacific Islands, or Virgin Islands. May not include timber or installed equipment. FORFEIT Loss of money, property, or the right to property by failure to act or by negligent or improper action. Property lost is called a forfeiture. FRAUD The intentional perversion of truth to deceive another person, whereby that person acts upon it to his legal injury. FREEHOLD An estate in fee simple or for life. FRONT FOOT One foot along the street frontage of a property. FUNCTIONAL OBSOLESCENCE A loss in value of an improvement due to functional inadequacies, often caused by age or poor design. For example, functional obsolescence may be attributable to such things as outmoded plumbing or fixtures, inadequate closet space, poor floor plan. G G Go back to the menu. GENERAL LIEN A lien which attaches to all property owned by the debtor. GENERAL WARRANTY A covenant in the deed whereby the grantor agrees to protect the grantee against the world. GRADUATED LEASE A lease that provides for the varying rental rate, often based upon future determination; sometimes rent is based upon result of periodic appraisals; used largely in long-term leases. GRADUATED RENTAL SYSTEM concession lease in which lessee's percentage rental fluctuates with the ratio of his gross income to gross fixed assets. Also provides for a nonrefundable Fixed Minimum Rental (FMR). Percentage rental is offset against the FMR. GRANT The act of conveying or transferring real property, the operative words in a conveyance of real estate are to "grant, bargain, and sell". The grantor (the person who conveys the real estate) delivers the grant, in the form of a deed, to the grantee. GRANTEE Entity to whom a grant is made, or to whom real estate is conveyed. The buyer. GRANTOR Entity who makes a grant, conveys real estate by deed. The seller. GROSS INCOME The projected annual income from operation of a business or from management of a property. GROSS RENT MULTIPLIER Ratio of sales price to monthly rental income for single family residential properties. GROUND LEASE A lease to use land for a stated period; may be secured by improvements which the tenant will provide. GUIDE ACQUISITION LINE A line on the map accompanying a design memorandum showing the tentative boundaries of the land to be acquired for a project. H H Go back to the menu. HABENDUM CLAUSE The "to have and to hold" clause which defines or limits the quantity of the estate granted in the pre of the deed. HAZARDOUS MATERIALS See CONTAMINATION. HECTARE A metric surface measure: 10,000 square meters or 2.471 acres. HEREDITAMENTS Every sort of inheritable property, such as real, personal, corporeal, and incorporeal. HIGH WATERLINE The line of high water at ordinary tides. HOLDING AGENCY The Federal agency accountable for a piece of property. HOLDOVER TENANT A tenant who remains in possession of leased property after the expiration date of the lease term. HOME STEAD A home that is used as a personal residence. where there is homestead protection, the homeowner generally files a homestead declaration with the county recorder, setting forth his marital status. I I Go back to the menu. IMPROVEMENTS An addition to land which costs labor or capital (buildings, pavements, etc.), more or less permanently attached. More than repair or replacement. INCOME PROPERTY Property owned or purchased primarily for the monetary return it will bring. It may be classified as commercial, industrial, or residential. INDEMNIFY To protect against or keep free from loss/ damage. To insure. To repay for loss/damage. To compensate for loss, reimburse. INDUSTRIAL INSTALLATION Active or inactive industrial facility held by the Department of the Army for production of weapons, systems, munitions, components, and supplies. INGRANT Property acquired for Army or Air Force used by lease, license, or permit; not fee. INLEASING The leasing of real estate interests therein, and improvements thereon for military and civil works purposes. Generally, also leasing of land/improvements by the Corps for other Government agencies. INSTALLATION Land and improvements controlled by the Department of the Army and used by Army organizations for Army functions. INSTALLED BUILDING EQUIPMENT Equipment and furnishings required to make a building usable and attached as a permanent part of the structure (e.g., docks, overhead crane., etc.). INSTALLMENT CONTRACT Purchase of real estate upon an installment basis; upon default, payments are forfeited. Often called a LAND CONTRACT, the deed to the property is not given to the purchaser until either all or a certain portion of the purchase price has been paid. INSTRUMENT A written legal document created to effect the rights of the parties. INTEREST RATE The rate of return on an investment, specifically, the rate charged on borrowed money. INTERNAL CONTROL The organization and methods within a Federal agency which guard against fraud, waste, abuse, and mismanagement of resources. INTESTATE A person who dies having made no will, or one defective in form; in which case, his estate descends to his heirs at law or next of kin. INVOLUNTARY LEN A lien imposed against property without consent of the owner; example: special assessments and Federal income tax. J J Go back to the menu. JOINT AND SEVERAL An obligation which binds two or more persons individually and jointly. This type of obligation can be enforced by joint action against all or separate actions against one or more. JOINT TENANCY Co-ownership of real property by two or more persons, whereby the joint tenancy have equal interest, accruing by the same conveyance, commencing at the same time, and held by equal and undivided possession. JUDGMENT The final determination of the rights and liabilities of the parties in an action, as decreed by a court. JUNIOR LIEN A lien placed upon property after a previous lien has been made and recorded. JURISDICTION The authority to legislate within a geographically defined area; authority to enact general municipal legislation over that particular area. JUST COMPENSATION Market value paid for real estate taken in a condemnation action. K K Go back to the menu. Nothing currently. L L Go back to the menu. LAND MANAGEMENT Planning and execution of programs to use, improve and maintain land and water areas for the greatest net public benefit, while supporting the assigned mission. LAND SURVEYING Location and identification of a parcel of land by a professional surveyor or engineer. LANDLORD One who rents property to others. LEASE A written document by which the owner transfers the rights of use and occupancy of land and/or structures to another person or entity for a specified period of time in return for a specified rental. LEASEHOLD The interest or estate which a lessee has in real property by virtue of his lease. LEGAL DESCRIPTION A statement containing a designation by which land is identified according to a system set up by law or approved by law. LEGISLATIVE JURISDICTION Authority to legislate within a geographically defined area; the same as jurisdiction. Types of jurisdiction are exclusive, concurrent, and partial. LESSEE A person/entity to whom property is rented under terms of a lease. LESSER INTERESTS Interest in land that is less than fee. LESSOR A person who rents property under a lease; the landlord. LIABILITY Any drawback, debt, or obligation. Something that acts as a disadvantage. An obligation or duty that must be performed. The opposite of asset. LICENSE Authority to enter or use another person's land or property, without possessing estate in it; revocable. Would otherwise constitute a trespass. LIEN A hold or claim which one person has upon the property of another as a security for some debt or charge. LINK Surveyor's linear measure. 1 link = 7.92 in. 100 links = 1 chain (66.6 feet) LIS PENDENS A public notice, filed against specific lands, that an action at law is pending that may affect the title to the land. LITTORAL RIGHTS The right of an owner of land with a shoreline contiguous to a sea or lake to use and enjoy the shore without a change in its position created by artificial interference; as distinguished from riparian rights and water rights. LOCUS A particular parcel of land; used to refer to an already specified property. M M Go back to the menu. MAJOR CONCESSION A commercial concession entirely on project land with gross fixed assets or annual gross income over $150,000. See also, COMMERCIAL CONCESSION, MINOR CONCESSION, MIXED CONCESSION. MARKET PRICE The price paid regardless of pressures, motives, or intelligence. MARKET VALUE The price at which a willing seller would sell and a willing buyer would buy, neither being under abnormal pressure. MARKETABLE OR MERCHANTABLE TITLE A title which is free from reasonable doubt of defect which can be readily sold or mortgaged to a reasonably prudent purchaser or mortgagee; a title free from material defects or grave doubts and reasonably free from possible litigation. MEAN SEA LEVEL Average sea level position, midway between average high and average low water. Used as a standard for measurement of heights in the past; now replaced by the National Geodetic Vertical Datum (NGVD) in most of the country. MECHANICS LIEN A statutory lien to secure payment to materialmen and mechanics for materials and services used to repair, improve, or maintain real property. MEETING OF MINDS A mutual intention of two persons to enter into a contract affecting their legal status based on agreed-upon terms. One of the essential elements of a contract whereby the parties consent to be bound by the exact terms of the contract. METES AND BOUNDS A common method of land description that identifies a property by specifying the shape and boundary dimensions of the parcel, using terminal points and angles. MINERAL RIGHTS The right to extract minerals from land. Does not include right to use the surface of the land to conduct mineral extraction. This must be obtained from the surface owner. MINOR CONCESSION A commercial concession entirely on project land with gross fixed assets or annual gross income under $150,000. See also, COMMERCIAL CONCESSION, MAJOR CONCESSION, MIXED CONCESSION. MIXED CONCESSION A commercial concession on project and private land. See also, COMMERCIAL CONCESSION, MAJOR CONCESSION, MINOR CONCESSION. MONUMENT A natural or manmade fixed object used as a permanent reference point for surveying or to mark land ownership boundaries. MONUMENTS DESCRIPTION A method of describing property by referring to objects (monuments) on the boundaries. MORTGAGE A legal instrument pledging a described property for repayment of a loan under certain terms. MORTGAGE BROKER An individual or firm that makes mortgage loans on its own behalf, with its own funds, usually expecting to re-sell the loans to lenders at a profit. MORTGAGEE one to whom a mortgage is made; the lender. MORTGAGOR One who makes a mortgage, the borrower. MULTIPLE USE Integrated management of all natural resources to achieve optimum use and enjoyment, while balancing environmental qualities, ecological relationships, and esthetic values. N N Go back to the menu. NATURAL RESOURCES Viable and/or renewable products of nature; natural environments of soil, air and water; plants and animals on grasslands, rangelands, croplands, forest, lakes, and streams. NAVIGATION SERVITUDE Public right of navigation for the use of the people at large. NEGOTIABLE A promissory note, or similar instrument, is said to be negotiable if title to the instrument, and the money it represents, can be transferred by mere endorsement and delivery by the holder, or by delivery only. NET INCOME in general, synonymous with net earnings, but considered a broader and better term the balance remaining, after deducting from the gross income all operating expenses, maintenance, taxes. NET LEASE A lease agreement whereby the lessee pays all property charges (taxes, insurance, maintenance) in addition to rent. Local market customs and terms vary, in some areas, "net, net" and "net, net, net" are used. NONEXCESS PROPERTY Property required for an Army mission but proposed for sale: the proceeds would fund acquisition of replacement land or facilities. Authority to sell non-excess property is found at 10 U.S.C. 2667a. NONUSABLE CONDITION Describes a facility which is unserviceable because of deterioration, because it requires extensive restoration, or because it is dangerous to equipment or to the health and safety of personnel. NOTE A written instrument acknowledging a debt and promising payment. NOTICE TO QUIT A written notice from a landlord to a tenant that the tenant must vacate the premises at the end of the term or immediately, if the lease is at will. O O Go back to the menu. OBLIGATION Legal reservation of funds based on known requirements (a contract, for example), or an a realistic estimate of costs. OBLIGOR One who places himself under a legal obligation to an obligee. OBSOLESCENCE As applied to real estate it is the loss of value due to structural, economic, or social changes becoming outmoded. OFFER A promise by one party to act in a certain manner provided the other party will act in the manner requested. The offeror is the one who makes the offer to the offeree. OFFSET STATEMENT A statement by the owner of property or owner of a lien against property, setting forth the present status of liens against said property. OPEN-END MORTGAGE A mortgage containing a clause that permits the mortgagor to borrow money after the loan has been reduced without rewriting the mortgage. OPTION A privilege, acquired for a consideration, of demanding within a specified time the carrying out of a transaction upon stipulated terms. The optionor grants an option to an optionee. ORDER OF POSSESSION Court order in a condemnation which allows the Government to enter and use lands. OUTGRANT Government term for the interest or right granted to one to use Government real property by a lease, easement, license, or permit. OUTLEASING The leasing of Army-controlled real property which is temporarily not required for mission purposes. OUTSTANDING RIGHTS Encumbrances, obligations, or liens on property. The Government may take such property subject to the outstanding rights or may eliminate them. OVER-IMPROVEMENT An improvement to land that is more extensive or costly than needed. As an example, the erection of a thirty-story office building where fifteen would have been adequate for the present and foreseeable future needs of the business community. OWNER IN EQUITY owner is responsible for repairing or replacing improvements to the property that are damaged (i.e., loss by fire, damages due to flood, etc.). P P Go back to the menu. PARTIAL LEGISLATIVE JURISDICTION Authority granted by a state to the Federal Government to legislate over an area, while the state reserves the right to exercise, alone or concurrently with the Federal Government, other authority greater than the right to serve civil or criminal process. PARTIAL TAKING Taking of part of a property for public use, under power of eminent domain. Compensation must be paid, considering damages and/or special benefits to the remainder property. PARTITION The dividing of common interests in real property owned jointly by two or more persons. PATENT An instrument by which the Federal Government conveys public land to an individual. PERCENTAGE LEASE A lease whereby rental is a percentage of gross or net income from sales or services. Such a lease often guarantees a minimum or maximum rent, regardless of business volume. PERCOLATION The flow of sub-surface water through land. A measure of percolation shows how much water the land can absorb. PERMANENT CONSTRUCTION A building suitable and appropriate to serve a specified purpose for at least 25 years with a minimum of maintenance. PERMIT A privilege, revocable at will, granted to another Federal agency to use real property for a specific purposes; confers no possessory interest. PERSONAL PROPERTY All physical objects of a personal or movable nature subject to ownership, except real estate (real property). See also PROPERTY and REAL PROPERTY. PERSONALTY Personal property, movable property, chattels. See also PERSONAL PROPERTY. PHOTOGRAMMETRY The science of surveying and mapping using aerial photographs and stereographic plotters. PLAT Map of town, section, or subdivision, showing location and boundaries of individual properties. PLOT A piece of land. POINT A measure for charges on a loan amounting to one percent of the loan. One point is therefore one percent of the subject loan. POINT OF COMMENCEMENT A remote established point from which the true point of beginning can be identified. POLICE POWER The right of the Government to enact legislation deemed necessary to protect and-promote public health, safety, and welfare. In real estate, may be interpreted as the right to limit exercise of property rights without compensation (e.g., zoning). PORTABLE BUILDING A building designed for the continuing purpose of being easily moved intact from one location to another; usually kept in one location for a short time. Portable buildings are not items of realty and are not reported as real property inventory. POSSESSORY INTEREST Outgrant interests of private corporation and individuals to land that the Federal Government has withdrawn from county assessor's rolls. POWER OF ATTORNEY An instrument authorizing someone to act as another person's agent or attorney. The agent is attorney in fact, and his power is revoked at the death of the principal by operation of law. Power of attorney may be general or special. PREPAYMENT PENALTY Penalty for the payment of a mortgage or deed of trust note before it actually becomes due. PRESCRIPTION The acquiring of aright in property, usually in the form of an intangible property right such as an easement or right-of-way, by means of adverse use of property that is continuous and uninterrupted for the prescriptive period. PRICE The amount paid in legal tender, goods, or services; the consideration; purchase price. The terms for which a thing is done. PRINCIPAL Amount of a loan balance. In a mortgage payment of principal and interest, the principal repays the loan. PRIVATE ORGANIZATION A self-sustaining, non-Federal entity, constituted or established and operating on Federal property, by individuals acting outside any official capacity in the Federal Government. PROGRAM ANALYSIS AND RESOURCE REVIEW The PARR document identifies and explains new programs and changes to existing programs. Twenty-eight major commands and other agencies submit material to the PARK. PROGRAM AND BUDGET GUIDANCE The PBG provides guidance on manpower and dollars from HQDA to general operating agencies. MACOMs use this guidance to prepare the PARR and COB. PROGRAM OBJECTIVE MEMORANDUM The POM document presents the proposed Army program to the Office of the Secretary of Defense. It presents planned activities and the personnel and obligation authority required over a 5-year period to build, operate, and maintain this proposed program. PROJECT PLANNING Planning of real estate acquisition. PROPERTY The rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. These rights include the right to possess, to use, to encumber, to transfer and to exclude, commonly called the bundle of rights. PROPERTY NOT UTILIZED All or part of a property not used for current program purposes of the accountable agency, or occupied in caretaker status only. PROPERTY UNDERUTILIZED All or part of a property used only irregularly or intermittently by the accountable agency for current program purposes, or used for current program purposes that require only a portion of the property. PROPRIETARY INTEREST Rights of the Federal Government as property owner in a state. Rights conferred by virtue of ownership. PUBLIC DOMAIN LANDS Land or interest in land owned by the United States and administered by the Secretary of the Interior through the Bureau of Land Management. PURCHASE MONEY MORTGAGE A mortgage given by the grantee to the grantor, on the same land and concurrently with the conveyance, to secure the unpaid balance of the purchase price. Q Q Go back to the menu. QUALIFIED FEE An estate in fee simple but bound by limitations imposed by the grantor. QUARTERS All housing facilities which are supplied by specific Department of the Army direction as incidental service in support of Government programs and for which rent and fees are charged the occupant. QUIET ENJOYMENT A right, granted by covenant in a deed or lease, of a grantee or tenant to enjoy possession of the premises without interference. QUIET TITLE Court action brought to establish title and to remove a cloud on the title. QUITCLAIM DEED A deed of conveyance with conveys to the grantee without warranty of title whatever interest, title, or claim the grantor possesses. R R Go back to the menu. RANCHO Grants of land to individuals dating back to the Spanish-Mexican governments. A large tract of land suitable for grazing horses or cattle. RANGE A strip of land six miles wide, as determined by Government survey and running in a north-south direction. REAL ESTATE See REAL PROPERTY. REAL PROPERTY Land and anything built on, growing on, or affixed to land. See also PROPERTY, PERSONAL PROPERTY. REALTY A term sometimes used as a collective noun for real property or real estate. REASSIGNMENT The action of changing Jurisdiction over real estate from one command or agency to another within the Department of the Army. RECAPTURE CLAUSE A clause in leases or deeds which gives the landlord the right to terminate if certain conditions or standards are not met. RESCISSION OF CONTRACTS The abrogating or annulling of contracts. the revocation or repealing of a contract by mutual consent by parties to the contract, or for cause by either party to the contract. RECTANGULAR SURVEY SYSTEM Often called the United States Government Survey System; a method of describing or locating real property by reference to the Government survey. Used in about 30 states. REDEMPTION The right to redeem property during the foreclosure period; the right of an owner to redeem his property after a sale for taxes. Often referred to as Equity of Redemption. RELATED FURNISHINGS Property which is not fixed to or part of a building: furniture, furnishings, equipment. RELEASE The discharge or relinquishment of a right, claim or privilege. Since a formal release is a contract relieving a person from any further legal obligation, it must contain a valuable consideration. RELEASE OF LIEN The discharge of certain property from the lien of a judgment, mortgage, or claim. RELICTION Addition or accretion to land by gradual subsidence of water. RELOCATABLE BUILDING A building designed to be readily moved, assembled, disassembled, stored, and reused; a trailer type building, but not a mobile trailer. Usually considered personal property. RELOCATION ASSISTANCE Benefits and assistance for Persons whose property is acquired under Title II of PL 91-646. The Acs provides payment for moving and related expenses, replacement housing for owners and tenants, relocation assistance advisory, and last resort housing. REMAINDER An estate which vests after the termination of the prior estate, such as a life estate. It is created at the same time and by the same instrument as another estate and limited to arise immediately upon the termination of the other estate. RENT A compensation, either in money, provisions, chattels, or labor, received by the owner of real estate from the occupant. REPLACEMENT COSTS Cost of a building with equivalent utility but with modern materials and eliminating deficiencies of the building it replaces. REPRODUCTION COSTS Cost of building an exact duplicate of a structure, including deficiencies. EPROGRAMMING Transfer of funds from one appropriation account to another, for purposes different from the original appropriation. RESERVATION A right reserved by an owner in the grant (sale or lease) of a property. RESERVED PUBLIC LANDS See WITHDRAWN PUBLIC LANDS. RESIDUAL ESTATE That which remains of a testator's estate after deducting the debts, bequests, and devises. RESTRICTION A limitation upon the use or occupancy of real estate, placed by covenant in deeds or by public legislative action. RESTRICTIVE COVENANT A clause in a deed limiting the use to which the property may be put. REVERSION The residue of an estate left in the grantor to commence in possession after the determination of some particular estate granted out by him. The return of land to the grantor and his heirs after the grant is over. REVERSIONARY INTEREST The interest that a person has in lands or other property upon the termination of the preceding estate. REVOCATION The recall of a power or authority conferred, or the vacating of an instrument previously made. RIGHT OF SURVIVORSHIP - The distinctive characteristic of a joint tenancy (also tenancy by the entirety) by which the surviving joint tenants) succeeds to all right, title, and interest of the deceased joint tenant without the need for probate proceedings. RIGHT-OF-ENTRY A written instrument, binding on all parties, which provides authority to enter on certain premises to perform specified acts, without acquiring any estate or interest in the property. RIGHT-OF-WAY The right or privilege, acquired through accepted usage or by contract, to pass over a designated portion of the property of another. RIPRAP Loose stone piled on an embankment or slope to prevent erosion or washing-out. RIPARIAN OWNER One who owns land bounding upon a river or water course. RIPARIAN RIGHTS The right of a landowner to water on, under, or adjacent to his land, for general purposes, wharfing, and access to navigable waters. The rights of an owner of land on the bank of a stream or river. S S Go back to the menu. SALE-LEASEBACK A situation where the owner of a piece of property wishes to sell the property and retain occupancy by leasing it from the buyer. SALES CONTRACT A contract by which buyer and seller agree to the terms of the sale. SATISFACTION OF MORTGAGE An instrument for recording and acknowledging payment for an indebtedness secured by a mortgage. SCREENING Circulation of notice within the Army of real property which is no longer required by one Army organization but may be required and useful to another. SEA LEVEL See MEAN SEA LEVEL. SEAL An embossed impression on paper authenticating a document or signature (e.g., corporate or notary seals). The letters L. S. after the signature are Latin, locus sigilli, meaning "place of the seal." SECONDARY FINANCING A loan secured by a second mortgage or trust deed on real property. SECTION As used in the Government Survey System, a section of land is an area one mile square, containing 640 acres. It is 1/36th of a township. SECURITY INTEREST An interest in personal property or fixtures, obtained to ensure payment owed as performance of an obligation. SEDIMENTATION RANGES Upstream range lines for compiling data on erosion or sediment build-up. SEISIN (SEIZIN) Actual possession of property by one who claims rightful ownership of a freehold interest therein. A person is seized of property when he is in rightful possession with the intention of claiming a freehold estate. SEMI-PERMANENT CONSTRUCTION A building appropriate for a specific purpose for a limited period (more than 5 but less than 25 years), with a moderate to high level of maintenance. SEPARATE PROPERTY Property owned by a husband or wife which is not community property; property acquired by either spouse prior to marriage or by gift or devise after marriage. SERVITUDE A charge or burden on one estate to the benefit or advantage of another. SEVERALITY OWNERSHIP Sole ownership. Owned by one person only. SEVERANCE DAMAGES Payment to an owner for diminution in the value of a remainder area in a partial acquisition, caused by the acquisition (severance) or by construction of improvements. SINKING FUND A fund in which equal monthly or annual deposits, with compound interest, accumulate to a predetermined amount at a calculated time, for the purposes of paying a debt or replacing improvements. SITE A parcel of land, sufficiently improved to be used as a building lot or for other purposes requiring an improved site. SPECIAL WARRANTY DEED A deed in which the grantor warrants or guarantees the title only against defects arising during his ownership of the property and not against defects existing before the time of his ownership. SPECIFIC PERFORMANCE A remedy which the court will grant, in certain cases, compelling the defendant to perform or carry out the terms of a valid, existing agreement or contract. STATUTE OF FRAUDS State law which provides that certain contracts must be in writing to be enforceable contracts for real estate are included in this class of contract. SUBDIVISION Any land which is divided or is proposed to be divided for the purpose of disposition into two or more lots, parcels, units, or interests. SUBJECT TO MORTGAGE The taking of title to Property by a grantee, wherein he is not responsible to the holder of the promissory note for the payment of any portion of the amount due. SUBORDINATE To make subject to, or junior to. SUBORDINATION CLAUSE A clause in a mortgage or lease stating that rights of the holder shall be secondary or subordinate to a subsequent encumbrance. SUBROGATION Replacing one person with another in regard to a legal right, interest, or obligation. Substitution, such as a mortgage holder's selling his rights and interest to another. SUBSURFACE RIGHTS Ownership rights to water, minerals, gas, oil, and similar substances lying beneath the surface of a parcel of real estate. SURETY One who guarantees the performance of another; the guarantor. SURFACE RIGHTS Ownership rights in a parcel of real estate that are limited to the surface and do not include air above the property (air rights) or minerals below the surface (subsurface rights). SURPLUS REAL ESTATE Real property owned by the United States not required for the discharge of responsibilities of any Federal agencies, thus determined by the GSA Administrator to be excess. SURRENDER The cancellation of a lease by mutual consent of lessor and lessee. SURVEY The act by which the quantity and boundaries of a piece of land are ascertained; the paper containing a statement of the courses, distance, and quantity of land is also called a survey. SUSTAINED YIELD The production rate of renewable resources an area of land or water can maintain at a given intensity of management. T T Go back to the menu. TACKING An-adverse possessor has passed his rights to another and his time of possession counts for the new possessor. TAX DEED A deed given where property has been purchased at a sale to the public of property for nonpayment of taxes. TAX LIEN A government claim for unpaid real estate tax. TAX SALE A sale of property, usually at auction, for nonpayment of taxes assessed against it. TEMPORARY CONSTRUCTION A building suitable and appropriate to fill a need for a short period (5 years or less) without regard to level of maintenance, the designs and details of which provide a minimum facility with maximum initial economy. TENANCY IN COMMON Co-ownership of real property by two or more persons, each entitled to possession according to his proportionate share. Unlike joint tenancy, there is no right of survivorship. See also JOINT TENANCY, TENANCY BY ENTIRETY, RIGHT OF SURVIVORSHIP. TENANCY BY THE ENTIRETY Joint ownership by husband and wife, created by conveyance to husband and wife, who possess the property jointly. TENANT One who holds or possesses land or tenements by any kind of title, either in fee, for 'life, for years, or at will. TENANT AT SUFFERANCE One who comes into possession of lands by lawful title but keeps them afterwards without any title, after his interest has ended. TENURE IN LAND The mode or manner by which an estate in lands is held. TERM The extent of time for which an estate is granted. For example, the period which is granted for the lessee to occupy the premises; it does not include the time between making the lease and the tenant's entry. TERMINATION End of a lease or contract, usually before the anticipated time; termination may be by mutual agreement or by exercise of one party of a legal remedy due to default of the other party. TERMINATION FOR CAUSE Termination of an outgrant because of the lessee's violation of a condition of the grant. TERMINATION AT WILL Termination of an outgrant at will by the lessor. All Army outgrants may be terminated at will. TESTATE The condition of one who leaves a valid will at their death. THREATENED SPECIES Plants and animals likely to become endangered species, as listed by the Department of Interior, within the foreseeable future and throughout a significant portion of their ranges. TIMBER MANAGEMENT Production and identification of salable wood products from forests on a sustained yield basis: sawtimber, pulpwood, poles, ties, posts, piling, and other products. TIME IS OF THE ESSENCE One of the essential requirements to the forming of binding contract; it contemplates a punctual performance. TITLE The right to or ownership of lands. Also, the evidence of ownership. Title to property encompasses all the bundle of rights an owner possesses. TITLE INSURANCE Indemnity against loss or damage resulting from defects in or liens on a title at the date of the insurance. TOPO (GRAPHIC) MAP A map showing physical features and relative elevations of the area surveyed. The elevations are graphically depicted by contour lines. TOWNSHIP A territorial subdivision, six miles long, six miles wide, and containing thirty-six sections, each one mile square. TRACT An area of land contained in one description. TRACT I OWNERSHIP DATA A historical record of a particular tract of land, confirmed by the owner or someone familiar with the land and recorded on ENG Form 900. TRADE FIXTURES Articles of Personal property annexed to real property but which are necessary to the carrying on of a trade and are removable by the owner. TRANSFER Change of jurisdiction over real property from one Federal agency or department to another, including military departments and defense agencies. TRUE POINT OF BEGINNING The point from which a legal description of property begins and ends. TRUST DEED OR DEED OF TRUST A deed conveying land to a trustee as collateral security for the payment of a debt; upon payment of a debt secured thereby, the deed of trust is released; upon default, the trustee has the power to sell the land and pay the debt. TRUSTEE One why holds property in trust for another to secure the performance of an obligation. U U Go back to the menu. UNDERIMPROVEMENT Improvement inadequate to support the highest/best use of the site. May be a structure of lower cost, smaller size, or lesser quality than those typical of the neighborhood. UNDERUTILIZED The characteristics of underutilized project lands are: (1) Development of only a small amount of total land;Development behind schedule;Failure to meet annual management objectives;Low or declining public use;Unused recreation facilities. UNDUE INFLUENCE Taking any fraudulent or unfair advantage of another's weakness in mind, distress, or necessity. USURY On a loan, claiming a rate of interest greater than that permitted by law. UTILITY The usefulness of a property; its ability to satisfactorily function for the purpose for which it was intended. UTILIZATION INSPECTION An inspection of project lands buildings, and related facilities to determine if the property is being put to optimum use. V V Go back to the menu. VACATED PREMISES Property from which all military personnel and missions have been vacated. VALID Having force, or binding force; legally sufficient and authorized by law. VALUATION The act or process of estimating value; the amount of estimated value. VALUE Ability to command goods, including money, in exchange; the quantity of goods, including money, which should be commanded or received in exchange for the thing valued; utility; desirability. VARA A Spanish, Portuguese, and Latin American unit of linear measure, varying from 32 to 43 inches. Also a square vara, as a unit of area. VENDEE A purchaser; a buyer; the person to whom a thing is rendered or sold. VENDOR The person who transfers Property by sale. VOID That which is unenforceable; having no force or effect. VOIDABLE That which is capable of being adjudged void but is not void unless action is taken to make it so. VOLUNTARY LIEN Any lien placed upon property with consent of, or as a result of, the voluntary act of the owner. W W Go back to the menu. WAIVER The renunciation, abandonment, or surrender of a right, claim, or privilege. WARRANTY DEED A deed that contains a covenant that the grantor will protect the grantee against any claimant. WASTE Willful destruction of any part of the ;and which would injure or prejudice the landlord's reversionary right. WATERLINE High waterline is the point on the shore to which the tide normally rises; varies. Low waterline is the lowest point of tide, from which the tide does not ebb; varies. WETLANDS Land areas that are inundated by surface or ground water with sufficient frequency to support vegetable or animal life that requires hydric soils for growth and reproduction. WILDLIFE MANAGEMENT Application of scientific and technical principles to wildlife populations and habitats so as to maintain such populations for ecological, scientific, or recreational purposes. WITHDRAWN LANDS (withdrawn public lands) Public domain held back for the use or benefit of an agency by reservation, withdrawal, or other restrictions for a special government purpose. XY X & Y Go back to the menu. Nothing currently. Z Z Go back to the menu. ZONING The public regulation, through police power, of the character and extent of real estate use. Uniform restrictions on improvements, building height, density of population, and other factors regulate the use and development of private property.

Learn how to obtain commercial real estate leads with Park Place Realty Network. Marketing Guide How to find Commercial Real Estate referrals in your market The hard part about getting residential listings is getting a hold of the seller and then competing with the vast majority of real estate agents who sell residential real estate. Commercial real estate is very different and not nearly as competitive. By driving around your local area, you can visually see which commercial properties have sat vacant for a while or are in disrepair. Getting a hold of these owners is much easier and can usually be done by a simple online search vs trying to hunt down an individual residential owner. Also, the owner of a commercial property understands business and is more open to talking about numbers whereas a residential owner has an emotional attachment. See below on how to contact commercial real estate owners, refer them out, and have a top commercial agent do all the work for you. Step 1. Knowing your area Find commercial buildings in your local area that have sat vacant for some time. If you drive past one that looks in distress, write down the address. Commercial could mean anything from an old restaurant, to a warehouse or car dealership. The main thing you are looking for is property that has sat vacant for sometime. Step 2. Find out who the owner is Go to the website of the county property appraiser to where the property is located. Type in the address or search the unit through their map view if they have one. Once you pull up the property, see who the owner is. If the property is listed under a LLC or corporation (which they usually are) that is great news. If the owner is an actual person, it will be harder to make contact. At minimum you will have the mailing address to reach the owner in both scenarios. Also, get all of the data on the property within the county property appraiser’s website. See when the last sale date was and for how much. Find out what the current county assessment is (properties are typically valued at 5-10% above the county assessment). Step 3. Get more details about the owner & property The state in which the property is located, go to the website of the division of corporations or the secretary of state. It varies from state to state on which agency tracks this information. Plug in the name of the company to who owns the property into their search bar and see if the company is registered in that state. If so, get an idea of who the owner of the company is. If not, it could mean they are a company located in another state. Then, go to google.com and plug in the company name. Hopefully the name of the company pulls up in a google search and you can find a phone number or email to reach the company. Make notes of all the important data on who the owner is and how to contact them. Email and phone is best. Type the full address of the property into a google.com and see what pulls up online about the property. See if you can find the most recent activity on this property. Did they try and sell it in the last few years? Were they looking for a tenant to lease it out? Who was the brokerage representing them? All of this data can give you an idea on what their interests might be. The best commercial website is www.loopnet.com , it's the MLS for commercial real estate. Step 4. Contact the owner Once you have gathered as much information on the property and the owner as you can, this will give you enough knowledge about this deal to reach out to the owner and talk business. Below is an email you can use to send them an email if you were able to track one down. If you call them, let them know that you are a real estate agent, you know about their property and you wanted to see if they were interested in selling the property or leasing it out and that you might have a potential buyer or lessee for them (even if you don’t, but have a good rebuttal if they ask). Let them know that you are not the agent who would handle the transaction but would be referring it over to a top commercial agent in their market to handle the sale if they were interested in selling or leasing. Or, you are just wanting someone to buy or lease the property so it’s not a vacant property in your community. Email example that has worked many times before: Subject: *** CURRENCY CIR LAKE MARY, FL 32746 Email body: Hi Owner, I'm an agent here in Lake Mary, Florida and saw that the above property has you down as the current owner in the county property appraiser’s website. This property has been sitting vacant for several years and our market here in Lake Mary has been getting very hot lately. I have a few possible restaurants that might have an interest. I'm not sure if you are the owner or not on this property. If so or you might know, are they interested in leasing it out or selling? Please let me know as I might have a potential buyer/leasee for you. You can reach me at this email or my cell *******. Please let me know. Step 5. Conclusion We have successfully used this model many times before. The good part about contacting the owner to a commercial property that has sat vacant for a while, the owner is reminded that they can make money on their property. Most of these owners don’t even live in the town that the property is located and are not thinking about their property. These owners are typically happy that you gave them a reminder that they have a property sitting there that can generate income or that they can cash out and invest in something else and get a tax break through a 1031 exchange . If they do want to move forward with an agent, you can fill out the referral form on our website and we will make sure they are in the right hands with a top commercial real estate agent. Learn how to take advantage of USDA loans here with no money down.

If you need help passing the Florida real estate state exam, take our free practice questions here. Florida Real Estate State Exam Practice Test Exam 3 Go Back to Exams Take Quiz Four here

Georgia allows you to get a reciprocal real estate license without having to take a test. Simply fill out an application & pay a small fee. Get your Georgia Real Estate License through Reciprocity If you have a real estate license in any U.S. state that is in good standing, except for Florida, you can get a reciprocal real estate license in the state of Georgia without having to take a test. All you have to do is fill out their application, pay a small fee, and affiliate yourself with a licensed Georgia brokerage. Below are the steps to get your Georgia real estate license through reciprocity. *Florida licenses would need to pass a supplemental exam, contact GREC (Georgia Real Estate Commission) at 404-656-3916 for the details on this. Step 1: Go to the the Georgia Real Estate Commission's (GREC) website here , scroll down to the bottom of the page under "reciprocity". Or, you can also print out their application here . Call GREC at 404-656-3916 (hit prompts 2, 1 & 0 to speak with someone) directly with any questions, let them know you have a real estate license in another state, and you want a Georgia real estate license through reciprocity. Step 2: The GREC requires a Georgia real estate company to sponsor you in order to get your license. We can sponsor your Georgia license as long as you fill out our application and pay our annual admin fee of $125, you can get all the details here . Once you have sent back our contract and paid our $125 annual fee, we can sign the GREC form in step 1. Step 3: Submit everything to GREC that they require in their application in step 1. Once the GREC issues you your new Georgia real estate license, you will then have a real estate license in the state of Georgia, active under Park Place Realty Network. You can stay active with us, or move it over to another brokerage at anytime. *If you are not getting a Georgia reciprocal license and are instead getting a new Georgia real estate license, you can get all the details on Park Place being your sponsoring broker here . Park Place Realty Network is a license holding company and activates the majority of new Georgia real estate licensees through reciprocity as the sponsoring brokerage.

Use our free practice tests to help you pass the Flroida real estate state exam. Florida Real Estate State Exam Practice Test Exam 2 Go Back to Exams Take Quiz Three here

Test Create a Zillow profile Zillow provides free agent profiles that you can build that will include your photo with several social media links. If you would like your own profile on zillow, you can build your profile here on their website .

Get several ways on how to promote yourself with Park Place Realty Network. Marketing Guide Ways to market your Park Place website If you are an agent of ours and have not already signed up for your free personal website, you can do so by clicking here . If you do have your website already up and running, below are some ideas on how you can market it as a way to generate leads to you. This website was built to help you capture leads. The form on this website will forward any of your leads directly to your email inbox. Generate leads through Facebook Through your own personal contact on Facebook. On your own personal Facebook account you can type in the link of your website. For example www.ParkPlaceConnects.com/smartin . This will provide a link to your website along with the subject to what the website is about. Type in something above the website address so that your friends and family would want to check out your webpage. Something like “If you are looking to buy or sell real estate anywhere, please go to my webpage www.ParkPlaceConnects.com/smartin , I can assist you in making sure you are working with the top agent in your market.” Be sure to not only promote yourself on Facebook as most people do not like that. Copy the content on our Facebook page by adding things on your page that will keep them interested. Pictures of beautiful homes, tips on the real estate market etc… Free content in today’s world is key. Place your website link on random Facebook pages. Go to other commercial Facebook pages and simply post your website address. When you input your address, it will add a link to your website along with the tags that we added to your website. For example: Maybe you want prospects in San Francisco since this is the most expensive real estate in the U.S. currently. Go to the San Francisco 49ers Facebook page, follow any of their recent posts, and simply add your website address. Give it a second and you will see your website link appear with the tags to your website. You could also give your input so people do not think you are just trying to spam them. Get creative on where you would like to post your link, it’s free. Promote your website to millions of Facebook users by purchasing Facebook ads. Facebook has over 3 billion users. When you are on Facebook you will see “sponsored” ads that appear on your page. These ads are put on your page for a reason. Facebook has a way of knowing your interest as a consumer. Facebook is in the advertising business. To promote your website you can make your own personal Facebook ad. To get started with a Facebook ad, click here . You can get very detailed on your Facebook ad. For example, 30-40 single male’s living in Ft. Lauderdale FL who rent and work as engineers. Figure out who the market is for your website. Your website is good for any buyer or seller of any type of real estate anywhere in the world. Go to the Board of Realtor’s website to get a great overview of buyers & sellers . Keep in mind that buying Facebook ads can cost you some money so it’s good to know exactly what you are doing. Go to this page to get a great overview on how to place Facebook ads. Below are a couple of examples of some ads you can copy from. Through other sources Promote your website on blogs. Search for blogs where you would think buyers and sellers of real estate would be. In the comments section, write a little something and then post your website link and a reason for them to click it. You might not see immediate results, but the more you post out there the better your chances will be. Other social media outlets. If you use LinkedIn, Twitter, Instagram or the many other social media sites. Take advantage of it! Post your web address like we talk about above. The more your web address is out there on social media platforms, the better your chances are of getting a lead. Web address on the signature of your email. If you send a lot of emails to friends,family, clients etc..., make sure you have your web address on your email signature. Also include a reason for them to click on your website. Use a quote like "Get connected with a top real estate pro in your area" then have the website address. The above are just a few examples of what you can do to promote your website online. Be creative, figure out who your target market is and promote to them. Go to your Training & Marketing Guide to get more details on how to promote yourself. If you have any questions or would like to brainstorm some ideas with us, let us know as we are always here for you.