A professional property manager who has qualified for membership in and is a member of the Institute of Real Estate Management, and is designated a CPM

A usually metal chain used to measure length and distance. Less commonly used in land surveys than a Gunter's or surveyor's chain, the engineer's or Ramsden's chain is 100 feet in length, with 100 1-foot links. The terms "engineer's chain" and "Ramsden's chain" apply primarily to the measuring utensil itself and not to any particular unit of length.

A common forestry and land survey term that is equivalent to 66 linear feet. Often referred to as simply "chain", this term is more formally known as the surveyor's or Gunter's chain. A chain is broken into 100 equal parts, or links. One (1) mile is equal to 80 chains. A one (1) mile square piece of land (one section or 640 acres) is 80 chains on each side. Although an engineer's or Ramsden's chain is also used to measure length in surveys, the generic term "chain" when used in reference to land measurements refers to the unit of length (66 feet) represented by the Gunter's or surveyor's chain. For more chain conversions, equivalents, and examples, see Chain equivalents and conversions or the various Converting chains to... examples.

A chain is broken into 100 equal parts, or links. A one (1) mile square piece of land (one (1) section or 640 acres) is 80 chains on each side.
One (1) chain is equal to 66 feet.
One (1) chain is equal to four (4) rods, poles, or perches.
One (1) chain is equal to 100 links.
One (1) chain is equal to 22 yards.
One (1) chain is equal to 20.12 meters.
One (1) chain is equal to 0.0125 miles.
One (1) chain is equal to 0.0201 kilometers (km).
One (1) chain is equal to 0.1 furlongs.
One (1) chain is equal to 792 inches.
One (1) chain is equal to 2,011.684 centimeters (cm).
See the various Converting chains to... entries for conversion examples.

The recorded history of matters (muniments of title) which affect the title to a specific parcel of real property, such as ownership, encumbrances and liens; usually beginning with the original recorded source of the title.

1. A narrow strip of water 2. the part of a stream or body of water which affords the best passage for vessels, usually because of greater depth 3. a body of water joining two larger ones

A deep gap in the earth's surface, an abyss

All property other than real property. Chattels are distinct from real property in that they are moveable (not attached or affixed). Exceptions are made for trade fixtures or furniture, fixtures, and equipment (FFE), which can be attached, but are still considered chattels. Also known as personalty or personal property, chattels can be tangible (things or objects owned) or intangible (rights and relationships that are included in ownership). Tangible chattels include all objects that one owns, such as vehicles, clothing, houseplants, small appliances, etc. Examples of intangible chattels include patents, copyrights, royalties, and community property relationships. Transfer of chattels is done through a bill of sale, a will, intestate succession, or by court order (judgment).

A cone-shaped mass of material left from a volcanic eruption

1. A population center larger or more important than a town 2. in the U.S., an incorporated municipality with boundaries and powers defined by state charter

1. Title to real property that is free from liens, encumbrances, or defects aside from those which the buyer has agreed to accept (mortgage to be assumed, ground lease of record, etc.)
2. Title to real property that is established, marketable, and without clouds.

Definition:
Auction: 1. The price at which a bidder buys or sells an item. Also known as Auction price or Auction value.

Economy: 2. The market price at which supply meets demand and money is exchanged for goods or services.
Finance and Investment: 3. The most recently traded price of any security; the price at which sellers agree to sell an asset and buyers agree to buy it.

Terms, Definitions, and Concepts: Auction, Economy, Finance and Investment, Real Estate

An account set up by a broker to keep client's monies segregated from the broker's general funds

A high, steep face of rock, especially on a coast

Definition: In auction theory, a clock auction is a dynamic auction in which multiple identical items are placed on the auction block and the auctioneer calls prices at set increments. Bidders place offers on the quantity of goods desired at a given price. This process continues until no more items remain or there are no more bids.

Terms, Definitions, and Concepts: Auction, Real Estate

An area where livestock owners are required to fence their animals in. Also known as fence-in jurisdiction.

The final stage of consummating a real estate transaction when the seller delivers title to the buyer, in exchange for the purchase price

All appropriate costs generated by the sale of property which the parties must pay to complete the transaction. Costs may include appraisal fees, origination fees, title insurance, taxes and any points negotiated in the deal.

Expenses of the sale which must be paid in addition to the purchase price (in the case of the buyer's expenses), or be deducted from the proceeds of the sale (in the case of the seller's expenses)

A detailed cash accounting of a real estate transaction prepared by an escrow officer or other person designated to process the mechanics of the sale, showing all cash that was received, all charges and credits which were made, and all cash that was paid out in the transaction; also called a settlement statement

1. Any document, actual or apparent claim, unreleased lien, or encumbrance which may impair, injure, or otherwise adversely affect the title to real property.
2. A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

The grouping of housing units on less than normal size homesites, with the remaining land being devoted to common areas

Second person sharing obligation on the loan and title on the property.

A second party who signs a loan, along with the borrower, and becomes liable for the debt should the borrower default.