Definition: the granting of licenses especially to practice a profession
Pronunciation: \ˈlī-sən-shər, -ˌshu̇r\
Used in a Sentence: Licensure is obtained when an applicant passes the state ...
Definition: a person who has a valid real estate or appraisal license.
Pronunciation: \ˌlī-sən(t)-ˈsē\
Used in a Sentence: Licensees owe a duty of good faith and honesty to customers.
Definition: formal permission from a constituted authority to engage in a certain activity or business
Pronunciation: \ˈlī-sən(t)s\
Used in a Sentence: In order to get your real estate licens...
Definition: debts, financial obligations
Pronunciation: \ˌlī-ə-ˈbi-lə-tē\
Used in a Sentence: In a personal financial statement, assets minus liabilities equal net worth.
Definition: the use of borrowed funds to purchase property with the expectation the property will increase in value and turn a profit.
Pronunciation: \ˈle-və-rij\
Used in a Sentence: The devel...
Definition: a mortgage scheduled to be repaid in equal periodic payments that include both principal and interest.
Pronunciation:
Used in a Sentence: Because we had a level-payment plan we knew...
Definition: the landlord or owner; party granting a lease
Pronunciation: \ˈle-ˌsȯr, le-ˈsȯr\
Used in a Sentence: Lessors are free to charge as much as they want for a house.
Definition: a tenant or leaseholder; party given a lease
Pronunciation: \le-ˈsē\
Used in a Sentence: The lessee has the right to expect the landlord to make all necessary repairs in a timely m...
Definition: Title insurance that is issued for the unpaid mortgage amount that protects the lender against title defects.
Pronunciation:
Used in a Sentence: The bank required a lender’s policy f...
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