Principles 1: Cumulative
living trust—ANSWER--a trust created during someone's life to manage
their assets in life and in death
abstract of title—ANSWER--an abbreviated history of a property, including
info on any transfers, grants, wills, conveyances, liens, and encumbrances
accretion—ANSWER--the process that results in the gradual increase in
land area through deposits of soil by action of water
acre—ANSWER--a measure of the surface of land (43,560 square feet)
ad valorem taxes—ANSWER--a tax calculated according to the assessed
value of a piece of real estate
adaptation—ANSWER--the use and modification of a particular item for a
specific use in a property
addenda—ANSWER--documents containing additional terms, information,
or obligations that are attached to a contract
agency—ANSWER--an agreed-upon relationship between two individuals
wherein one represents the interests or acts on behalf of the other
, agency by ratification—ANSWER--an unauthorized action taken on behalf
of a principal which is accepted and legitimized after the fact by the
principal
agent—ANSWER--an individual with authority to act on behalf of another; a
state license is required to operate as an agent in real estate
air lot—ANSWER--airspace above a parcel of land
air rights—ANSWER--the right to use the airspace above the surface of land
amendment—ANSWER--changes or modifications to an already agreed-
upon contract
Americans with Disabilities Act—ANSWER--a federal law enacted to
remove barriers for individuals with disabilities
amortization—ANSWER--the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
apartment locator—ANSWER--a real estate license holder who locates
dwelling units for prospective tenants
appointed license holder—ANSWER--a license holder designated to work
with a client as part of an intermediary transaction
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
living trust—ANSWER--a trust created during someone's life to manage
their assets in life and in death
abstract of title—ANSWER--an abbreviated history of a property, including
info on any transfers, grants, wills, conveyances, liens, and encumbrances
accretion—ANSWER--the process that results in the gradual increase in
land area through deposits of soil by action of water
acre—ANSWER--a measure of the surface of land (43,560 square feet)
ad valorem taxes—ANSWER--a tax calculated according to the assessed
value of a piece of real estate
adaptation—ANSWER--the use and modification of a particular item for a
specific use in a property
addenda—ANSWER--documents containing additional terms, information,
or obligations that are attached to a contract
agency—ANSWER--an agreed-upon relationship between two individuals
wherein one represents the interests or acts on behalf of the other
, agency by ratification—ANSWER--an unauthorized action taken on behalf
of a principal which is accepted and legitimized after the fact by the
principal
agent—ANSWER--an individual with authority to act on behalf of another; a
state license is required to operate as an agent in real estate
air lot—ANSWER--airspace above a parcel of land
air rights—ANSWER--the right to use the airspace above the surface of land
amendment—ANSWER--changes or modifications to an already agreed-
upon contract
Americans with Disabilities Act—ANSWER--a federal law enacted to
remove barriers for individuals with disabilities
amortization—ANSWER--the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
apartment locator—ANSWER--a real estate license holder who locates
dwelling units for prospective tenants
appointed license holder—ANSWER--a license holder designated to work
with a client as part of an intermediary transaction
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
