KY Real Estate |Questions and Answers with complete

ccretion - Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License - License to act as intermediary on behalf of others for a commission. Bringing together of parties interested in making a real estate transaction. Bilateral Contract - All parties are legally bound to to act as prescribed Unilateral Contract - One party is bound to contract or act Brownfields - Defunct, derelict, or abandoned commercial or industrial sites, many have toxic wastes Condemnation - Proceeding to exercise the power of eminent domain Commingling - Illegal act of placing client or customer funds with personal funds. Commission Earned - payment to a broker service for sale or purchase of a property; usually a percentage Cooperative - Residential multi-unit building whose title is held by a trust or corporation that is owned and operated for the people living within the building who are the beneficial owners of the trust or shareholders of the corporation. Commission Split - Commission earned from selling a property is split between licensee and principal broker