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MA Real Estate Pre-license Study Guide Rated A+
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Acceleration Clause The clause in a mortgage that can be enforced to make the entire debt due if the mortgage defaults on any covenant in the mortgage Accession Acquiring land from deposit of soil washed up from a river, lake or ocean Ad Valorem Tax A tax levied "according to value". Refers to real estate taxes in relation to value assessed on the property for tax purposes Alienation The transferring of property to another. Allodial system Land ownership is held free of any rents or services due to the government. Contrasting system is feudal system Amortized Loan A loan which applies both principal and interest to the payment, made periodically
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