Real Estate Glossary
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national do not call registry
a registry, managed by the Federal Trade Commmission, that lists the phone numbers of consumers who have indicated their preference to limit the telemarketing calls they receive.
is basically fraud without the intent to misrepresent. It occurs when a false statement is made about a material fact by someone who was obliged to verify the accuracy of the statement.
A written promise or order to pay a specific sum of money that may be transferred by endorsement or delivery. The transferee then has the original payee's right to payment.
a tenant has to pay rent as well as cost incurred in maintaining the property, including taxes, insurance, utilities, and repairs.
net operating income
is the annual "income" in the income approach formula.
a lack uniformity. Real estate is considered to be nonhomogeneous because no two parcels of land are exactly alike.
A financing instrument that states the terms of the underlying obligation, is signed by its maker, and is negotiable (transferable to a third party).