5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Name: Score:
355 Multiple choice questions
Definition 1 of 355
a sales contract in which the buyer pays the seller for the property in multiple installments for a
predetermined length of time, and the seller holds the title until the property has been fully paid
for; also known as an installment sales contract or land contract
deed in lieu
quitclaim deed (transfer of interest)
specific performance contract
contract for deed (land contract)
Definition 2 of 355
a real estate license holder who is associated with a licensed broker for the purpose of
performing real estate brokerage acts on the broker's behalf
sales associate
good-faith doubt
real property
metes and bounds
Definition 3 of 355
regulations that control the sanitation and maintenance of public spaces
zoning ordinance
energy code
building code
health ordinance
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,5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 4 of 355
a form of ownership with an indeterminate length
escrow
life estate
freehold estate
fee simple estate
Definition 5 of 355
issued by an administrative law judge to FREC; includes their findings and recommended penalty
agent
recommended order
Civil Rights Act of 1866
level payment plan
Definition 6 of 355
the government right to regulate and restrict land use in order to protect the public; right
includes the power to enforce zoning and building codes
cooperative
police power
principal
personal property
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,5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 7 of 355
a tenant's occupancy of a property with the landlord's consent
mortgage broker
blanket mortgage
point of beginning
tenancy at will
Definition 8 of 355
a document that contains all essential information about the property, such as distance over
paved roads to nearby communities, number of homes currently occupied, soil conditions
affecting foundations and septic systems, type of title a buyer will receive, and existence of liens;
under the Interstate Land Sales Full Disclosure Act, developers of 25 or more lots must provide
the prospective purchaser with a property report before they sign the contract
property report
unilateral contract
package mortgage
special agent
Definition 9 of 355
the benchmark rate that an ARM is tied to
lifetime cap
relative price
margin
index
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, 5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 10 of 355
describes a license that is not active due to a failure to notify the Florida Real Estate Commission
of an important change, such as a change in employer or address
become automatically renewed
be transferred to another state
remain valid indefinitely
cease to be in force
Definition 11 of 355
when a mortgage loan is fully paid off
subject property
depreciation
adjudication withheld
satisfaction of mortgage
Definition 12 of 355
accounts that allow for a process in which funds and/or financial documents are held by a
disinterested third party on behalf of the other two parties in the real estate transaction until
specific conditions are satisfied
trust account
deposit
escrow account
mortgage
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Name: Score:
355 Multiple choice questions
Definition 1 of 355
a sales contract in which the buyer pays the seller for the property in multiple installments for a
predetermined length of time, and the seller holds the title until the property has been fully paid
for; also known as an installment sales contract or land contract
deed in lieu
quitclaim deed (transfer of interest)
specific performance contract
contract for deed (land contract)
Definition 2 of 355
a real estate license holder who is associated with a licensed broker for the purpose of
performing real estate brokerage acts on the broker's behalf
sales associate
good-faith doubt
real property
metes and bounds
Definition 3 of 355
regulations that control the sanitation and maintenance of public spaces
zoning ordinance
energy code
building code
health ordinance
https://quizlet.com/1046985447/test?answerTermSides=6&promptTermSides=6&questionCount=355&questionTypes=4&showImages=true 1/119
,5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 4 of 355
a form of ownership with an indeterminate length
escrow
life estate
freehold estate
fee simple estate
Definition 5 of 355
issued by an administrative law judge to FREC; includes their findings and recommended penalty
agent
recommended order
Civil Rights Act of 1866
level payment plan
Definition 6 of 355
the government right to regulate and restrict land use in order to protect the public; right
includes the power to enforce zoning and building codes
cooperative
police power
principal
personal property
https://quizlet.com/1046985447/test?answerTermSides=6&promptTermSides=6&questionCount=355&questionTypes=4&showImages=true 2/119
,5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 7 of 355
a tenant's occupancy of a property with the landlord's consent
mortgage broker
blanket mortgage
point of beginning
tenancy at will
Definition 8 of 355
a document that contains all essential information about the property, such as distance over
paved roads to nearby communities, number of homes currently occupied, soil conditions
affecting foundations and septic systems, type of title a buyer will receive, and existence of liens;
under the Interstate Land Sales Full Disclosure Act, developers of 25 or more lots must provide
the prospective purchaser with a property report before they sign the contract
property report
unilateral contract
package mortgage
special agent
Definition 9 of 355
the benchmark rate that an ARM is tied to
lifetime cap
relative price
margin
index
https://quizlet.com/1046985447/test?answerTermSides=6&promptTermSides=6&questionCount=355&questionTypes=4&showImages=true 3/119
, 5/21/25, 11:14 PM Florida Key Terms - Cumulative | Quizlet
Definition 10 of 355
describes a license that is not active due to a failure to notify the Florida Real Estate Commission
of an important change, such as a change in employer or address
become automatically renewed
be transferred to another state
remain valid indefinitely
cease to be in force
Definition 11 of 355
when a mortgage loan is fully paid off
subject property
depreciation
adjudication withheld
satisfaction of mortgage
Definition 12 of 355
accounts that allow for a process in which funds and/or financial documents are held by a
disinterested third party on behalf of the other two parties in the real estate transaction until
specific conditions are satisfied
trust account
deposit
escrow account
mortgage
https://quizlet.com/1046985447/test?answerTermSides=6&promptTermSides=6&questionCount=355&questionTypes=4&showImages=true 4/119
