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Mill

Definition:   a unit of money used to specify a property tax rate; one-tenth of one cent Pronunciation:   \ˈmil\ Used in a Sentence:   The mill rate used to determine the property  taxes was 52.
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Metes-and-bounds Description

Definition:    a common method of legal description that identifies a property by specifying the shape and boundary dimensions of the parcel.   A metes-and-bound description starts a the point of beginning and follows the boundaries of the land by compass direction and linear measurements and returns to the point of beginning. Pronunciation:    \ˈmēt\ \ˈbau̇nd\ \di-ˈskrip-shən\ Used in a Sentence:    The metes-and-bounds description is the oldest survey method.
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Meridian

Definition:   any of the imaginary lines running north and south used by surveyors for reference in locating and describing land under the government survey method of property description Pronunciation:    \mə-ˈri-dē-ən\ Used in a Sentence:    The Tallahassee principal meridian and base line are the reference lines that govern surveys in Florida.
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Meeting Of The Minds

Definition:   the point when two people, thinking of the same thing, reach an agreement through an offer and acceptance Pronunciation: Used in a Sentence:   Once the buyer and seller came to a meeting of the minds the contract was able to be signed.
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Mediation

Definition:   intervention between conflicting parties to promote reconciliation, settlement or compromise Pronunciation:  \ˌmē-dē-ˈā-shən\ Used in a Sentence:   When the buyer and seller made conflicting demands regarding the escrowed property the broker implemented a mediation process to help settle the dispute.
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Material Fact

Definition:  any fact that affects the value of real property and is relevant to a person making a decision about that property Pronunciation:   \mə-ˈtir-ē-əl\ \ˈfakt\ Used in a Sentence:   Real estate licensees must disclose all material facts to their clients.
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Masonry

Definition:    the stone, brick or concrete used to build things Pronunciation:   \ˈmā-sən-rē\ Used in a Sentence:    The house had a masonry foundation for added stability.
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Market Value

Definition:   the most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale Pronunciation:   \ˈmär-kət\\ˈval-(ˌ)yü\ Used in a Sentence:   The appraiser determined that the market value for the property was $375,000.
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Market Allocation

Definition:   an agreement between brokers to divide up competitive market areas among themselves and not complete in each other’s areas Pronunciation:   \ˈmär-kət\\ˌa-lə-ˈkā-shən\ Used in a Sentence:   The various brokers decided to create a market allocation so they would not compete with each other for business.