Dictionary

Definition:   tangible and movable property (transferred by a bill of sale); property not classified as real property Pronunciation:   \ˈpərs-nəl, ˈpər-sə-nəl\ \ˈprä-pər-tē\ Used in a Sentence:    ...

Definition:   an individual hired by a licensee to perform administrative tasks associated with real estate transactions.  The tasks will determine if the assistant must be licensed. Pronunciation:...

Definition:   point when a party or parties to a contract fulfill the promises or obligations in the contract Pronunciation:   \pə(r)-ˈfȯr-mən(t)s\ Used in a Sentence:    The full performance of e...

Definition:  for each day or by the day, an allowance for daily expenses Pronunciation:   \(ˌ)pər-ˈdē-əm\ Used in a Sentence:   We were allowed a per diem of $50 for our expenses during our busines...

Definition:   a lease whose rental is based on a percentage of the monthly or annual gross sales made on the premises Pronunciation:   \pər-ˈsen-tij\ \ˈlēs\ Used in a Sentence:    When we opened th...

Definition:   a provision in a mortgage that requires the borrower to pay a penalty in money if the mortgage payments are made in advance of the normal due date or if the mortgage is paid in full a...

Definition:    an association of two or more persons who carry on a business for profit as co-owners and share the profits and losses Pronunciation:  \ˈpärt-nər-ship\ Used in a Sentence:     The tw...

Definition:    property subject to taxation, but the owner is partially relieved of the burden Pronunciation:   \ˈpär-sh(ə-)lē\ \ig-ˈzem(p)t\ Used in a Sentence:    By having our property homestead...

Definition:   a mortgage provision under which the mortgagee agees to release certain parcels from the lien of the blanket mortgage upon payment of a certain sum of money Pronunciation:    \ˈpär-sh...