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Aug 26, 2022 · MARIA is an acronym used by some real estate professionals as an easy way to remember the criteria for determining if an item is a fixture or not.
- What Does U.P.T.E.E. Mean?
- What Does D.U.S.T. Mean?
- What Does M.A.R.I.A. Mean?
- What Does P.I.T.T. Mean?
- What Does O.L.D.C.A.R. Mean?
- What Does P.E.T.E. Mean?
- Final Thoughts on The Acronyms and The State Exam
U.P.T.E.E. is an acronym that you can use to remember the five rights associated with a buyer’s bundle of rights: 1. U: Use: The right to use a property, within the confines of the law, in any way, and for any purpose. 2. P: Possess: The right to live on a property and the right to keep others out. 3. T: Transfer: The right to transfer a property b...
To have value, a property must possess four essential characteristics: 1. D: Demand:Does anyone want the property? 2. U: Utility:Is the property useful for any purpose such as shelter, income, or recreation? 3. S: Scarcity: How much exists? (The more limited the supply, the more valuable it becomes.) 4. T: Transferability:Can it be transferred or s...
M.A.R.I.A is an acronym used to remember the elements that determine if something is a fixture: 1. M: Method:This refers to the method of attachment. If the item is affixed to the property using nails, glue, wires, cement, pipes, or screws, it is usually a fixture even if it can be easily removed. 2. A: Adaptability:Once the item becomes integral t...
P.I.T.T. refers to the four factors used to determine joint tenancy: 1. P: Possession: All parties hold equal rights to possession of the property. 2. I: Interest: All parties hold an equal interest in the property. 3. T: Time: All parties acquire a property simultaneously. 4. T: Title:All parties acquire title under the same document in a joint te...
You can remember a real estate agent’s fiduciary duties using the O.L.D.C.A.R. acronym: 1. O: Obedience 2. L: Loyalty 3. D: Disclosure 4. C: Confidentiality 5. A: Accountability 6. R: Reasonable Care and Diligence
P.E.T.E. is an acronym you can use to remember the four powers government has over property: 1. P: Police Power: This is the government's right to regulate individual conduct or property to protect the community. Examples include zoning and building codes. 2. E: Eminent Domain: This refers to the government's power to appropriate property for publi...
When it comes to preparing for the California real estate exam, acronyms can be extremely useful in helping you to remember key concepts that you will need to learn in order to pass your exam. One of the best study tips you can use to learn the material is creating acronyms because it helps you easily remember important concepts you’ll be tested on...
Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients. Even if you know every one of the 136 real estate terms on this list and how to use them, your clients expect you to be their interpreter. This comprehensive list of real estate definitions ...
Sep 2, 2020 · The acronyms of real estate can be overwhelming. Here’s a list of the ones you're likely to run into when buying or selling a house.
Jan 6, 2023 · Ever been confused by those real estate listing abbreviations? Here is a summary of some of the most frequently used abbreviations in real estate listings.
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PUD: Planned unit development is a real estate development where individual properties share a governing HOA, amenities, and spaces. REO: Real estate owned is property that has been foreclosed on and is now available to buy from the lender. TIC: Tenancy in Common is a form of property ownership where multiple individuals have an undivided ...
Oct 28, 2022 · The real estate industry, like many others, seems to have its own language and lingo. Working knowledge of common real estate investment terms will help you absorb vital information quicker.
