A document containing a condensation of the essential provisions of a court judgment.

The act of ending or terminating a nuisance; a type of legal action brought to end a nuisance.

A summary of money judgment. The summary is usually prepared so that it may be recorded thereby creating a (judgment) lien on real estate owned by the judgment debtor.

A summary of the instruments affecting title to a parcel of real property as shown by the public records.

To make a note all due and payable at one time.

A clause in a deed of trust or mortgage giving the lender the right to call all sums owing him or her to be immediately due and payable upon the occurrence of a certain event. It is also a clause that permits a debtor to pay off a loan before the due date.

An essential element of every contract it is the consent to be bound by the offer. In deeds it is the consent to accept a grant of real property.

The right of an owner to go into and out of his or her property.

A person who without receiving value signs a promissory note to help another person borrow money or get credit.

The discharge of an existing contract by accepting the performance under a substitute contract. Generally consideration under the new contract is different from and of lesser value than under the original contract and satisfaction is the performance of that contract; the combination discharges the original contract.

A gradual addition to land from natural causes; for example from gradual action of ocean or river waters.

(1) The difference between the cost of replacement new as of the date of the appraisal and the present appraised value. (2) The accumulated loss in value that has affected the improvements on real property.

A formal declaration before an officer duly authorized as a notary public by a person who has executed an instrument stating that the execution is his or her act and deed. A formal statement (usually before a notary public) by the person signing a deed or document that the instrument was actually and freely signed.

Blocks of fiber mineral or metal with small holes or a rough-textured surface to absorb sound used as covering for interior walls and ceilings.

The act or process by which a person procures property.

A measure of land equaling 160 square rods 4840 square yards43560 square feet or a tract about 208.71 feet square.

According to value.

(Americans with Disabilities Act) A statute that codifies building standards and conditions for access by Americans with certain disabilities.

Located next to or near an object or parcel of property.

Located so as to touch an object or share a common property line.

Enforcement of license laws through reprimand and denial as well as the suspension and revocation of licenses

Any person who engages in the business of claiming, demanding, charging, receiving, collecting, or contracting for the collection of, a fee from a customer for furnishing information concerning the location and availability of real property, including apartment housing, which may be leased, rented, shared or sublet as a private dwelling, abode, or place of residence

Any person who, for a fee, arranges, conducts, coordinates, handles or causes meetings between a customer and the current owner or occupant of legally occupied real property, including apartment housing, who wishes to share that housing with one or more individuals as a private swelling, abode or place of residence, but it shall not apply to any person who for another and for a fee, commission or other valuable consideration, supervises, organizes, arranges, coordinates, handles or is otherwise in charge of or responsible for the relocation of commercial or residential tenants from buildings or structures that are to be demolished, remodeled or otherwise structurally altered

The main source of law for real estate licenses in New York

When an individual (the petitioner) asks a state court to review a decision or action of a New York State body or officer

A financial statement showing a person's assets liabilities and net worth.

When the final payment on a note is greater than the preceding normal installments the final installment is termed a balloon payment. An installment promissory note providing for the last payment to be much larger than any previous payment. By statute any payment more than twice the smallest payment is a balloon payment although in practice generally the term refers only to the last payment.

Imaginary lines used by surveyors from which they find measure and describe the location of lands.

Molding used at the top of the baseboard.

Molding used at junction of baseboard and floor sometimes called a carpet strip.

A board that goes around the room against the wall and next to the floor.

Narrow strips of wood or metal used to cover joints on the interior or exterior of a building; they are also used for decorative effect.

A horizontal structural member supporting a load.

A wall or partition that supports any vertical load in addition to its own weight.

A location indicated on a permanent marker by surveyors.

(1) One entitled to benefit from a trust. (2) The lender on the security of a note and deed of trust. The creditor (lender) under a deed of trust.

Statement by owner of a deed of trust or mortgage against the property setting forth the present status of the debt and lien. Also called a beneficiary statement.

To leave by will.

Personal property that is given by the terms of a will. A gift of personal property by will.

An improvement on real property that increases the value and is considered a capital asset.

A contract in which the consideration given by each party is a promise: that is a promise for a promise.

A written instrument given by the seller to the buyer to pass title to personal property.

A written statement that binds the parties to an agreement until formal contracts can be drawn; an agreement to cover a down payment as evidence of good faith.

Asphalt paving used in streets and driveways.

A deed of trust binding more than one parcel of property as security. It is frequently encountered in subdivisions where every lot in the subdivision is bound by the same deed of trust. As the lots are sold they are released from the deed of trust by a partial release provision.

An ad (usually in a newspaper or magazine) which does not identify the party placing the ad. Often used in an ad for a job, asking that a resume be sent to a post office box.

A program administered by the State Department of Veterans Affairs for the direct financing of farms and homes for veterans who qualify.

Assets of a permanent nature used in the production of income. Examples would include land buildings and equipment.

The gain recognized for federal and state income tax purposes when a taxpayer disposes of a capital asset.

In appraising a method of determining value of property by considering net income and a reasonable percentage of return on the investment.

The percentage rate or rate of interest considered a reasonable return on the investment. It is used in the capitalization method of determining value based upon net return.

Molding used at junction of baseboard and floor sometimes called a carpet strip.

Windows set in frames of wood or metal that swing outward.

A legal right; facts giving rise to an enforceable claim.

A Latin phrase meaning let the buyer beware"; the legal maxim stating that the buyer must examine the goods or property and buy at his or her own risk."

Covenants conditions and restrictions. The basic rules establishing the rights and obligations of owners (and their successors in interest) of real property within a subdivision or other tract of land in relation to other owners within the same subdivision or tract in relation to an association of owners organized for the purpose of operating and maintaining property commonly owned by the individual owners.

The Veterans Administration's written appraisal of the value of a property.

The Supreme Court order indicating that the court has decided to exercise its discretion and accept a case offered on appeal. The court reviews only those select cases that it deems worthy of review.

A series of conveyances encumbrances and other instruments affecting the title from the time original patent was granted or as far back as records are available. A history of the recorded ownership of real estate and claims against title to real estate.

Procedure that is done to terminate your license or change the broker you are listed under 

The old name for personal property.

A personal-property mortgage. (See Security Agreement.)

In real estate an estate less than a freehold estate such as a lease.

(1) Personal property. (2) This term is sometimes used in a law to describe any interest in real or personal property other than a freehold.

An electrical device that automatically interrupts an electrical circuit when an overload occurs. Circuit breakers can be reset and today are used instead of fuses.

A system of jurisprudence sometimes called Roman law wherein all the laws are set forth in advance to regulate conduct (as opposed to common law where the principles of law develop on a case-by-case basis).

The illegal act of a real estate broker who mixes the money of other people with that of his or her own; brokers are required by law to maintain a separate trust account for other parties' funds held temporarily by the broker

The closing of a transaction through a third party called an escrow agent, or escrowee, who receives certain funds and documents to be delivered on the performance of certain conditions in the escrow agreement

Provision holding that a law or rule does not apply to a particular person, entity, or group (e.g., a company with a property tax exemption does not have to pay property taxes)

A limited, non-invasive examination of the condition of a home, often in connection with the sale of that home; someone who has the training and certificates to perform such inspections

An agreement that cannot be withdrawn or revoked

When someone is paid an undisclosed service

A common strategy to incentivize real estate agents for business or to sweeten a buyer into purchasing a property

A misdeed triable in a court of special sessions

A service whereby local member brokers agree to share listings, and further agree to share commissions on properties sold jointly. The MLS generally consists of online computer services and a regularly published book

A type of listing where the home seller sets a minimum price he/she is willing to sell the property for and whatever amount above that minimum the real estate agent manages to get from a home buyer's offer, becomes the real estate agent's commission

Pocket-sized real estate license issued for brokers and salespersons by most states. Identifies the person as a real estate licensee.

Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value, for real property

The role of the appraiser is to provide objective, impartial, and unbiased opinions about the value of real property -- providing assistance to those who own, manage, sell, invest in, and/or lend money on the security of real estate

Someone who continues their education past the real-estate-agent level and successfully receives a state real estate broker license. Real estate brokers can work as independent agents or have other agents working for them.

An individual or company in charge of finding, acquiring and managing the real estate property on behalf of the partnership

A real estate agent's license being temporarily withdrawn. Usually, reactivation is automatic the day after the suspension is lifted.

There are various grounds for suspension, including failure to comply with educational requirements, violation of the law or conduct deemed requirements, violation of the law or conduct deemed unethical by the department. A suspension carries with it a term during which the license may not perform any function that requires a license.

A clause that allows real estate buyers to back out of a purchase contract during a fixed period of time that precedes it's official closing date

Any abuse, disobedience, lawbreaking, transgression, or wrongdoing. It may result in punishment or litigation