AFFILIATE BROKER NATIONAL EXAM

acceleration - a provision in a mortgage, lease or land contract, which gives the lender, lessor or vendor the option of declaring the entire balance due upon any default of the borrower, lessee or vendee acceptance - the receipt of a deed or other thing with the intention of retaining it; agreement to terms offered, agreement by drawee of negotiable paper to pay same; consent to an offer or contract accession - the right to all which one's property produces; acquiring property property attached to as an incident. The process of acquiring title to improvements made on your land without your approval before installation accretion - additions to one's real estate by the gradual deposit of soil through the operation go natural causes Ad Valorem Tax - property taxes assessed according to valuation adverse possession - a possession inconsistent with the right of the true owner. Open and notorious possession and occupation of real property under an evident claim to the title which may, if uncontested for prescribed periods of time, result in actual title transfer to the offending parties Affiliate Broker - any person engaged under contract by or on behalf of a licensed broker to participate in any activity in which the broker may legally engage agency - a contract by which one person with a greater or less discretionary power, undertakes to represent another in certain business relations agent - a person authorized to act on behalf of another, call his principal amortization - the act of liquidating, or extinguishing an indebtedness or ch