COLIBRI REAL ESTATE TEXAS PRINCIPLES OF REAL ESTATE II| COMPLETE
QUESTIONS WITH 100% RATED EXPERT SOLUTIONS |2026 LATEST UPDATED
1. Interstate Land Sales Full Disclosure Act: Act authorizing a nationwide program of registration of subdivisions
marketed in interstate commerce intended to protect consumers by making relevant information available to them
when they are considering purchasing land
2. Farmer Mac: The Federal Agricultural Mortgage Corporation—a privately owned and publicly traded company
established by Congress to create a secondary market for agricultural mortgage and rural utilities loans and the
portions of agricultural and rural development loans guaranteed by the U.S. Department of Agriculture (USDA).
3. Rental Value: An estimate of the rental rate a property can command for a specific period of time.
4. interest: For a buyer it is the amount paid in return for the use of money. For a lender it is the money earned or
received from a loan investment.
5. principal: The capital amount borrowed on which interest payments are calculated.
6. Functional Obsolescence: Within the property lines, outdated plumbing, electrical or heating, outmoded lighting
fixtures, or architecture.
7. Replacement Cost: The value based on the cost of constructing a functional equivalent of the subject property's
improvements, assuming current construction costs.
8. Building permits: Documentation from a government agency giving permission to begin the construction or
renovation of a building or improvement.
9. Land Lease: Lease where the landowner grants the tenant a leasehold interest in the land only in exchange for rent.
10. The Depositor Insurance Fund (DIF): Fund to insure the deposits and protect the depositors of insured banks and
to resolve failed banks.
11. Pre-foreclosure: A grace period prior to foreclosure.
,12. Marketable Title: Title so free of defects that the buyer is certain he or she will not have to defend the title.
13. 12 month/30 day proration: Calculating prorations assuming a 360 day year with every month having 30 days.
14. Eminent Domain: The right of government to acquire property, for a public purpose, after paying just
compensation.
15. Lien: An indication of debt secured by the property
16. Police Power: The inherent power of the state to regulate in order to promote public health, safety, morality or
welfare.
17. Covenant: A guarantee included in a deed to benefit a property that's sold or to benefit a property that's kept when
an adjoining property is sold.
18 Freddie Mac: Corporation that buys conventional loans from savings banks, commercial banks and mortgage
companies, assembles the loans into a pool of mortgages and issues a security backed by the mortgages.
19. Retail Centers: Income-producing commercial properties are of differing sizes and fall into categories with
distinct functions. Each center has a main tenant called an anchor.
20. Shared Equity Mortgage: A participation mortgage in which the lender shares in the appreciation of a mortgaged
property if and when the property sells.
21. Cash equivalent sale: When a buyer uses a conventional loan to purchase a property.
22. Sale and leaseback: This arrangement is when the owner of real estate sells the property and then leases it back
from the buyer. The buyer becomes the owner and the former owner becomes the tenant.
23. Rent roll: A list of the number of rental units in a property, the length of each lease (expiration date), and the
monthly income for each unit.
24. Mortgage Fraud: A crime in which the intent is to materially misrepresent or omit information on a mortgage
loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower
known the truth.
, 25. Open-end loan: An expandable loan which gives borrowers a limit up to which they may borrow. Each
incremental advance must be secured by the same mortgage and any advances may not exceed the original borrowing
limit.
26. Leasehold estate: An ownership of a temporary right to hold land or property in which a lessee or a tenant holds
rights of real property by some form of title from a lessor or landlord. Also called a less-than-freehold estate.
27. Blanket mortgage loan: Loan which covers more than one piece of property often used by land developers when
they buy a plot of land and divide it into many separate lots.
28. Bridge Loan: A short-term loan that covers the period between the end of one loan and the beginning of another.
29. General Warranty Deed: Deed with seller guarantee that not only has the seller done nothing personally to
negatively impact the property title, but neither has anyone else within the "chain of title" ownership history of the
property.
30. Estate at will: Leasehold without a lease or where the tenancy is not a consideration which can be terminated by
either party at any time, with proper notice.
31. Savings and loan association: A financial institution whose primary function is to promote thrift and
homeownership. They also invest at least part of the deposits made by their customers in residential mortgage loans.
32 Appraisal Management Company (AMC): An entity authorized by TALCB to provide appraisal management
services.
33. TALCB: Texas Appraisers Licensing and Certification Board
34. Graduated Payment Mortgage (GPM): Loan structured so the monthly payment for principal
and interest increases by a certain percentage each year for a certain number of years then levels off for the remaining
term of the mortgage.
35. Profit: The result of selling something for more than what it cost you to purchase it.
QUESTIONS WITH 100% RATED EXPERT SOLUTIONS |2026 LATEST UPDATED
1. Interstate Land Sales Full Disclosure Act: Act authorizing a nationwide program of registration of subdivisions
marketed in interstate commerce intended to protect consumers by making relevant information available to them
when they are considering purchasing land
2. Farmer Mac: The Federal Agricultural Mortgage Corporation—a privately owned and publicly traded company
established by Congress to create a secondary market for agricultural mortgage and rural utilities loans and the
portions of agricultural and rural development loans guaranteed by the U.S. Department of Agriculture (USDA).
3. Rental Value: An estimate of the rental rate a property can command for a specific period of time.
4. interest: For a buyer it is the amount paid in return for the use of money. For a lender it is the money earned or
received from a loan investment.
5. principal: The capital amount borrowed on which interest payments are calculated.
6. Functional Obsolescence: Within the property lines, outdated plumbing, electrical or heating, outmoded lighting
fixtures, or architecture.
7. Replacement Cost: The value based on the cost of constructing a functional equivalent of the subject property's
improvements, assuming current construction costs.
8. Building permits: Documentation from a government agency giving permission to begin the construction or
renovation of a building or improvement.
9. Land Lease: Lease where the landowner grants the tenant a leasehold interest in the land only in exchange for rent.
10. The Depositor Insurance Fund (DIF): Fund to insure the deposits and protect the depositors of insured banks and
to resolve failed banks.
11. Pre-foreclosure: A grace period prior to foreclosure.
,12. Marketable Title: Title so free of defects that the buyer is certain he or she will not have to defend the title.
13. 12 month/30 day proration: Calculating prorations assuming a 360 day year with every month having 30 days.
14. Eminent Domain: The right of government to acquire property, for a public purpose, after paying just
compensation.
15. Lien: An indication of debt secured by the property
16. Police Power: The inherent power of the state to regulate in order to promote public health, safety, morality or
welfare.
17. Covenant: A guarantee included in a deed to benefit a property that's sold or to benefit a property that's kept when
an adjoining property is sold.
18 Freddie Mac: Corporation that buys conventional loans from savings banks, commercial banks and mortgage
companies, assembles the loans into a pool of mortgages and issues a security backed by the mortgages.
19. Retail Centers: Income-producing commercial properties are of differing sizes and fall into categories with
distinct functions. Each center has a main tenant called an anchor.
20. Shared Equity Mortgage: A participation mortgage in which the lender shares in the appreciation of a mortgaged
property if and when the property sells.
21. Cash equivalent sale: When a buyer uses a conventional loan to purchase a property.
22. Sale and leaseback: This arrangement is when the owner of real estate sells the property and then leases it back
from the buyer. The buyer becomes the owner and the former owner becomes the tenant.
23. Rent roll: A list of the number of rental units in a property, the length of each lease (expiration date), and the
monthly income for each unit.
24. Mortgage Fraud: A crime in which the intent is to materially misrepresent or omit information on a mortgage
loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower
known the truth.
, 25. Open-end loan: An expandable loan which gives borrowers a limit up to which they may borrow. Each
incremental advance must be secured by the same mortgage and any advances may not exceed the original borrowing
limit.
26. Leasehold estate: An ownership of a temporary right to hold land or property in which a lessee or a tenant holds
rights of real property by some form of title from a lessor or landlord. Also called a less-than-freehold estate.
27. Blanket mortgage loan: Loan which covers more than one piece of property often used by land developers when
they buy a plot of land and divide it into many separate lots.
28. Bridge Loan: A short-term loan that covers the period between the end of one loan and the beginning of another.
29. General Warranty Deed: Deed with seller guarantee that not only has the seller done nothing personally to
negatively impact the property title, but neither has anyone else within the "chain of title" ownership history of the
property.
30. Estate at will: Leasehold without a lease or where the tenancy is not a consideration which can be terminated by
either party at any time, with proper notice.
31. Savings and loan association: A financial institution whose primary function is to promote thrift and
homeownership. They also invest at least part of the deposits made by their customers in residential mortgage loans.
32 Appraisal Management Company (AMC): An entity authorized by TALCB to provide appraisal management
services.
33. TALCB: Texas Appraisers Licensing and Certification Board
34. Graduated Payment Mortgage (GPM): Loan structured so the monthly payment for principal
and interest increases by a certain percentage each year for a certain number of years then levels off for the remaining
term of the mortgage.
35. Profit: The result of selling something for more than what it cost you to purchase it.
