Definition: A business entity formed by any number of persons who make an investment at a stipulated amount per unit. The monies collected in this manner are then used to buy, develop and/or sell real estate.
Pronunciation: \ˈbiz-nəs, -nəz,\
Used in a Sentence: The large apartment complex was bought by a business trust.
Definition: An ownership theory describing all the legal rights that attach to the ownership of real property, including disposition, enjoyment, exclusion, possession and control.
Pronunciation: \ˈbən-dəl\ \ˈlē-gəl\
Used in a Sentence: The right to sell our property is covered by the bundle of legal rights.
Definition: Government regulations controlling construction practices and materials.
Used in a Sentence: The inspector checked to make sure the construction conformed to the building codes.
Definition: A person who is qualified to be issued a broker’s license but who operates as a sales associate in the employ of another.
Pronunciation: \ˈbrō-kər\\ə-ˈsō-shē-ˌāt, -sē-\
Used in a Sentence: The broker associate helped us to sell our house.
Definition: A person or business entity licensed by the DBPR to perform services of real estate for others for compensation.
Used in a Sentence: The broker provided excellent information about the area we were looking to purchase in.
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