That effort which brings about the desired result, as in producing the buyer for the listed property

An unconditional written promise of one person to pay a certain sum of money to another, or order, or bearer, at a future specified time

The rights, benefits, and interests one has in something that is owned; note that property in a legal sense refers to these rights and interests, not to the physical items owned.

That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others

A disclosure document required under the federal interstate land sales act where applicable to the interstate sale of subdivided lots

A written lease in a cooperative apartment building, between the owner-corporation and the tenant-stockholder, in which the tenant is given the right to occupy a particular unit

1. To divide or distribute proportionately according to ownership, time remaining on a contract, etc.
2. In proportion to: A prorated refund for a partially fulfilled contract is equal to the payment amount remaining for that portion of the contract which is unfulfilled. Also known as pro rata.

A person or corporation who may be interested in buying or selling real property. The prospect does not become a client until the parties establish a fiduciary relationship, such as upon signing a listing contract or upon executing a DROA.

A printed statement distributed to describe, advertise and give advance information on a business, venture, project or stock issue

Statement in a deed that specified actions or improvements can or cannot take pace on a given property. The covenants may stipulate the use of the property, restrict the number of occupants and prohibit certain actions. Alternately, an agreement restricting specified financial transactions.

Definition: One who acts on behalf of another; an agent.

Terms, Definitions, and Concepts: Auction, Finance and Investment, Legal (Law), Management, Real Estate

The disclosure document issued by the Arizona Department of Real Estate (ADRE) which allows a developer or subdivider to sell lots within a platted, recorded subdivision. Also known as the Commissioner's Public Report (CPR), this document is issued only after the extensive subdivision application has been approved and the subdivision has been physically inspected. A demonstration of a 100-year water supply may also be required.

A Spanish grant that is under 1,000 acres.

Exaggerated or superlative comments or opinions not made as representations of fact and thus not a grounds for misrepresentation. A statement such as the apartment has a fantastic view, is puffing because the prospective buyer can clearly assess the view in each case.

A discrepancy list showing defects in construction which need some corrective work to bring the building up to standards set by the plans and specifications

Pur autre vie is a French phrase that literally means "for the life of another". An estate pur autre vie (also known as pour autre vie) is an interest in real property held for the life of some person other than the life tenant. A life estate pur autre vie is a form of conventional life estate wherein the duration of the estate is measured not against the life of the life tenant, but against the life of another person specified by the grantor of the estate. An estate pur autre vie is the only life estate that has a right of inheritance: during the life of this other person against whose lifespan the duration of the estate depends, the life tenant's heirs may inherit the property. Once the "other person" is deceased, this right of inheritance ends.

A mortgage given to the seller as part of the buyer's consideration for the purchase of real property, and delivered at the same time that the real property is transferred as a simultaneous part of the transaction