Dictionary

Recommended Order

Definition:  a determination by an administrative law judge that includes findings and conclusions, as well as the recommended penalty, if any, required by law or agency rule Pronunciation:   \ˌre-kə-ˈmend\ \ˈȯr-dər\ Used...

Reciprocity

Definition:  an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states Pronunciation:  \ˌre-sə-ˈprä-s(ə-)tē\ Used...

Receivership Clause

Definition:   a provision in a mortgage, related to income-producing property, that is designed to require that income derived shall be used to make mortgage payments in the event the borrower...

Receiver

Definition:   an independent party appointed by a court to hold in trust and administer property under litigation Pronunciation:   \ri-ˈsē-vər\ Used in a Sentence:    A receiver was appointed by the...

Reasonable Time

Definition:   a fair length of time that may be allowed or required for an act to be completed, considering the nature of the act and the surrounding circumstances Pronunciation: Used...

Realty

Definition:   land and everything permanently affixed thereto Pronunciation:    \ˈrē(-ə)l-tē\ Used in a Sentence:   Real estate and real property are also terms for realty.