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Land Terms

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Fractional Section

A of land is denoted as a fractional section if it is not a complete section (e.g., less than 640 acres due to a body of water).

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Fraud

Any form of deceit, trickery, breach of confidence or misrepresentation by which one party attempts to gain some unfair or dishonest advantage over another

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Free and clear

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.

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Free and clear title

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.

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Freehold (Freehold estate)

Definition:
In English feudal law, the term freehold signified an estate held by a free man - the highest form of land tenure available at the time to commoners, or those without royal blood. In contemporary common law countries, a freehold estate is an interest in real property that is free of interests held by others and can best be described as full and complete ownership, although certain conditions or limitations may apply. The two kinds of freehold estates are those with a right of inheritance, and those without. Freehold estates with a right of inheritance include estates in fee simple absolute and estates in fee simple defeasible. Freehold estates without a right of inheritance include legal life estates, conventional life estates, and estates pur autre vie.


Terms, Definitions, and Concepts: Real Estate, Title and Title Insurance, Legal (Law), Appraisal, Auction, Management

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Frontage

The length of a property abutting a street or body of water; that is, the number of feet that front the street or water

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Full bath

Definition: A bathroom with a toilet, a sink, a bathtub, and a shower, with the latter two usually combined.

Terms, Definitions, and Concepts: Real Estate, Construction and Building

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Functional obsolescence

A loss in value of an improvement due to functional inadequacies, often caused by age or poor design

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Furlong

A unit of length equal to 220 yards, 40 poles, rods, or perches, or ten (10) chains. The term is derived from the phrase "furrow long", or the distance oxen can plow before they are rested. See also Furlong equivalents and conversions and the various Converting furlongs to... entries.

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Furlong equivalents and conversions

One (1) furlong is equal to 660 feet.
One (1) furlong is equal to 201.168 meters.
One (1) furlong is equal to 1,000 links.
One (1) furlong is equal to 40 rods, poles, or perches.
One (1) furlong is equal to ten (10) chains.
One (1) furlong is equal to 0.125 miles.
One (1) furlong is equal to 0.2012 kilometers.
One (1) furlong is equal to 220 yards.
One (1) furlong is equal to 7,920 inches.
One (1) furlong is equal to 20,116.8 centimeters.

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Furniture, fixtures, and equipment (FF&E)

Normally used in real estate with business or commercial applications such as bed and breakfasts, this term can also apply to personal, non-commercial items. Articles considered to be FF&E are personal property unless they are permanantly attached or affixed to real estate. Under the terms of most commercial leases, FF&E are to be removed by the tenant upon expiration of the lease, and are therefore personal property. Examples of FF&E include computers, office furniture, shelving, beds, etc. Synonymous with trade fixture.

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Future interest

A present right to, share or ownership of, participation in, or claim to real property that will not take effect until some point in the future.
Examples of future interests include the reversionary interest retained by the grantor of a life estate without a remainderman, the possibility of reverter of an estate in qualified fee determinable, and the right of reentry of an estate in qualified fee conditional.

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