Dictionary

National Association Of Realtors ® (nar)

Definition:   the largest real estate organization in the world with more than one million members including REALTORS® and REALTOR®-ASSOCIATES® representing all branches of the real estate industry Pronunciation: Used in...

Null And Void

Definition:   the license status when a sales associate has failed to successfully complete post-licensing education prior to the first renewal of the license or when a licensee has failed to...

Novation

Definition:   the substitution of a new legal obligation for an old one Pronunciation:    \nō-ˈvā-shən\ Used in a Sentence:    Unless there is a novation, a tenant assigning a lease to...

Notice Of Noncompliance

Definition:    issued by the DBPR in the case of a minor rule violation that does not endanger the public safety, health or welfare Pronunciation:   \ˈnō-təs\ \(ˈ)nän-kəm-ˈplī-ən(t)s\ Used in a Sentence: ...

Note

Definition:  a document signed by the borrower of a loan and stating the loan amount, the interest rate, the time and method of repayment, and the obligation to repay Pronunciation:...

Nonfreehold Estate

Definition:   an estate in real property in which ownership is for a determinable time period, as in a lease Pronunciation:  \(ˈ)nän-ˈfrē-ˌhōld\\i-ˈstāt\ Used in a Sentence:   The nonfreehold estate granted us the...