Dictionary

Voluntary Relinquishment

Definition:  the licensee requests that the DBPR cancel the license Pronunciation:   \ˈvä-lən-ˌter-ē\ \ri-ˈliŋ-kwish-mənt\ Used in a Sentence:   When Sam decided to retire he notified the DBPR to voluntarily relinquish his license....

Voluntary Lien

Definition:   claims imposed against real property with the consent of the owner Pronunciation:   \ˈvä-lən-ˌter-ē\ \ˈlēn\ Used in a Sentence:   A second mortgage is a type of voluntary lien.

Voluntary Inactive

Definition:   the license status that results when a licensee has met all of the requirements for licensure but chooses not to engage in the real estate business and has requested...

Voidable

Definition:   a contract that because of the manner or method in which it was brought about, one of the parties is allowed to void contractual duties Pronunciation:  \ˈvȯi-də-bəl\ Used in...

Vendor’s Lien

Definition:   a claim against property giving the seller the right to hold the property as security for any unpaid purchase money Pronunciation:  \ˈven-dər\  \ˈlēn\ Used in a Sentence:

Vendor

Definition:   the seller of real property in an agreement of sale Pronunciation:   \ˈven-dər\ Used in a Sentence:    The vendor accepted the offer on the house and signed a contract....