Becoming Real Estate Agent
Becoming Real Estate Agent
Becoming Real Estate Agent

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Real Estate Terms of the Day for Becoming Real Estate Agent



RECORDING
The act of entering documents concerning title to a property into the public records.

RELEASE CLAUSE
A provision found in many blanket mortgages enabling the mortgagor to obtain partial releases of specific parcels from the mortgage upon the payment of, typically, a larger-than-pro-rata portion of the loan.

OPINION OF TITLE
An opinion by a person competent in examining titles, usually a title attorney, as to the status of the title of a property.

ADVERSE POSSESSION
The acquiring of title to real property owned by someone else, by means of open, notorious and continuous possession for the statutory period of time (20 years in Hawaii).

PRIVATE MORTGAGE INSURANCE
A special form of insurance designed to permit lenders to increase their loan-to-market-value ratio, often up to 95 percent of the market value of the property.

RECAPTURE CLAUSE
A clause usually found in percentage leases, especially in shopping center leases, giving the landlord the right to terminate the lease (and thus "recapture" the premises)if the tenant does not maintain a specified minimum amount of business.

OFFER AND ACCEPTANCE
The two components of a valid contract; a "meeting of the minds."

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