Dictionary

Definition:   a written lease in a cooperative apartment building, between the owner/corporation and the tenant/stockholder, in which the tenant receives the right to occupy a particular unit Pronu...

Definition:   a disclosure document required under the federal Interstate Land Sales Full Disclosure Act Pronunciation:  \ˈprä-pər-tē\ \ri-ˈpȯrt\ Used in a Sentence:   Developers of 25 acres or mo...

Definition:   a person who manages properties for various owners Pronunciation:   \ˈprä-pər-tē\ \ˈma-ni-jər\ Used in a Sentence:   A property manager is responsible for maintaining the property and...

Definition:   the area of the real estate profession that pertains to the leasing, managing, marketing and overall maintenance of the property of others Pronunciation:  \ˈprä-pər-tē\ \ˈma-nij-mənt\...

Definition:   the rights or interests a person has in the thing owned but not, technically, the thing itself: bundle of rights including the right to possess, to use, to encumber, to transfer and t...

Definition: The formal act of announcing a statute or an administrative rule. Pronunciation: \ˈprä-məl-ˌgāt\ Used in a Sentence: The FREC may promulgate rules and regulations. Demystifying "Promul...

Definition:   a written promise to pay a certain sum of money to another at a future specified time Pronunciation:   \ˈprä-mə-ˌsȯr-ē\\ˈnōt\ Used in a Sentence:   A broker must disclose to the sell...

Definition:   a principal of appraisal that states that the value of an inferior property is enhanced by its association with superior properties of the same type Pronunciation:    \prə-ˈgre-shən\ ...

Definition:  a projected annual operating statement that shows expected income and expenses Pronunciation: Used in a Sentence:   A pro forma statement should be clearly labeled as a projection and ...