Dictionary

Definition: A sequential listing of all previous holders of title back to an acceptable starting point. Pronunciation: Used in a Sentence:   The chain of title showed there were no outstanding lien...

Definition: Executed by an attorney who has studied the abstract of title, it will list any defects or clouds on the title and includes the attorney’s opinion of whether the seller has a marketable...

Definition: An occupancy permit issued by the local government after construction is completed and final inspection is approved. Pronunciation: \(ˌ)sər-ˈti-fi-kət\ \ˈä-kyə-pən(t)-sē\ Used in a Sent...

Definition: When certain events occur, the licensee cannot conduct business until the DBPR is properly notified.  An example would be a licensee changing employers. Pronunciation: Used in a Sentenc...

Definition: An action by a government agency that requires a person or business to stop an illegal or unfair practice. Pronunciation: Used in a Sentence:   A cease and desist order was issued again...

Definition: Latin for “let the buyer beware”. Pronunciation: \ˈka-vē-ˌät, -ˌat; ˈkä-vē-ˌät; ˈkā-vē-ˌat\  \-ˈem(p)-tər, -ˌtȯr\ Used in a Sentence:   Caveat emptor should be kept in mind when lookin...

Definition: The resulting amount when an annual debt service, tax liability, and capital improvement costs are subtracted from net operating income. Pronunciation: Used in a Sentence:   Due to incr...

Definition: The relationship between the new income from a real estate investment and the present value. Pronunciation:\ˌka-pə-tə-lə-ˈzā-shən\ Used in a Sentence:    The capitalization rate applied...

Definition: The profit from the sale of an asset, including real property. Pronunciation: \ˈka-pə-təl, ˈkap-təl\ \ˈgān\ Used in a Sentence:   The tax on the capital gains from the sale of the prope...