Dictionary

Definition: a proration method in which all months are considered to have 30 days Pronunciation:  \ˈsta-chə-ˌtȯr-ē\ Used in a Sentence:    To prorate costs you can use the statutory month method.

Definition:   law created by the enactment of legislation, as opposed to law created by judicial decision (common law) Pronunciation:   \ˈsta-chə-ˌtȯr-ē\ Used in a Sentence:   Chapter 475 pertaini...

Definition:   the law pertaining to the period of time within which certain actions must be brought to court Pronunciation:   \ˈsta-(ˌ)chüt\ \ˌli-mə-ˈtā-shən\ Used in a Sentence:   The statute of l...

Definition:   an act requiring that certain real estate instruments and contracts affecting title to real property be in writing in order to be enforceable Pronunciation:   \ˈsta-(ˌ)chüt\ \ˈfrȯd\ ...

Definition: an established rule or law passed by a legislative body Pronunciation:  \ˈsta-(ˌ)chüt\ Used in a Sentence:   Florida Statute Chapter 475 is also known as the Real Estate Professional Pr...

Definition:  risk that can be transferred to an insurer such as the risk of fire, vandalism, etc Pronunciation:   \ˈsta-tik\ \ˈrisk\ Used in a Sentence:   Because a fire is considered a static risk...

Definition:   tax required prior to a mortgage being recorded, based on the face value of the mortgage Pronunciation: Used in a Sentence:   The state requires the payment of an intangible tax befor...

Definition:   tax required on all promissory notes, based on face value of note Pronunciation: Used in a Sentence:   We had to pay the state documentary tax stamp on notes on the new and assumed no...

Definition:  tax required on all deeds or other documents used as conveyances, charge is based on total purchase price Pronunciation: Used in a Sentence:   The state documentary tax stamp on deeds ...