The key principle of NRA is that the individual space sq. Writ of execution: A court order directing an officer of the court, usually the sheriff, to carry out the judgment or decree of the court. Encroachment: Illegal intrusion of an improvement or other real property onto another’s property. (assessed value x .001). Periodic tenancy: See estate from period-to-period. Encumbrance: A claim, lien, charge, or liability attached to and binding upon real property, such as a judgment, mortgage, mechanic's lien, lien for unpaid taxes, or right-of-way. Alienation: Transfer of real property by one person to another. Wallenberg (Raoul) Traditional High School. Declaration: A recorded instrument that defines boundaries and common elements of a condominium and establishes the basic rights and obligations of the owners. Optionor: One who grants an option to another, usually the land owner. Such a mortgage becomes a lien on the property simultaneously with the passing of title, and if immediately recorded becomes prior to any lien against the purchaser. Estate from period-to-period (periodic tenancy): An interest in land with no contract date of termination. Caveat emptor: Latin phrase meaning "let the buyer beware. Vicarious liability: A principal's liability for an agent’s acts performed within the scope of the agency; specifically excluded by Colorado statute from a principal's liability unless the act or omission was approved, directed or ratified. Eminent domain: A governmental right to take private property for public use through the process of condemnation, and with payment of just compensation. Building code: Local government regulations specifying structural requirements of buildings. Release of lien: The discharge or release of specific property from the charge or lien of a judgment, mortgage or other claim. Due-on-sale clause: A provision in a mortgage or trust deed which allows the lender to call a promissory note due and payable in full immediately upon the sale or transfer of a secured property; allows a lender to raise the interest rate or force other changes in terms upon assumption of the loan. A utility room houses coat closet, W\D & more storage. An annual cash flow statement shows total return after taxes. Adverse possession: The right of an occupant of land to acquire a superior title to the real estate against the record owner, where such possession has been actual, notorious, hostile, visible and continuous for the required statutory period (18 years in Colorado). The triple net (NNN) in a commercial real estate lease stands for Net, Net, Net which are the taxes, property insurance, and common area maintenance charges that Tenants or Lessees pay for in addition to their base rent. renews by payment of the contract rent. FHA-insured mortgage: A mortgage under which the Federal Housing Administration insures approved lenders against loan default. Duress: Forcing action or inaction against a person's will. Land: Real property; all below the surface, the surface and the airspace above it, and that which is affixed to it permanently; synonymous with "real property", "realty", and "real estate" often used to mean only the unimproved surface of the earth. An elegant bedroom and bath are in their own wing and a walk in closet completes this handsome environment. Real property: Land; the surface of the earth and whatever is erected, growing upon, or affixed to the land; including that which is below it and the airspace above it. A service business not dealing in inventory has the option of using the cash or accrual basis of accounting. Mortgagor: The party who gives a mortgage (borrower) conveying interest in the property to the lender as security for the obligation to repay a loan or fulfill some obligation. Escrow: The state or condition of money or a deed held conditionally by a third party, called the escrow agent, pending the performance or fulfillment of some act or condition. On opposite ends of the adjacent hallway are an airy bedroom and a full bathroom, with stacked Bosch laundry machines hidden away in a nearby closet. Here you should find all the terms and lingo you need to know about in the world of Real Estate. If you are leasing 4,000 sf your yearly and monthly rent would be $97,600 and $8,133.33. This spectacular home features soaring ceiling heights, wide plank white oak floors and custom gourmet kitchen. Consideration: A promise or an act of legal value bargained for and received in return for a promise; one of the essential elements of a contract. Based on those numbers the total yearly rent would be $24.40 sf per year. In this buyer, seller, tenant or landlord in a real estate transaction. Et ux. CCR's. Zillow has 2,329 homes for sale in San Francisco CA. Gross income multiplier: A number used in the income approach to value used to compare potential desirability of income properties, and calculated by dividing sales price by gross annual income. Negotiable instrument: A written instrument containing a promise of payment, which can be endorsed from one person to another. Estate (tenancy) at sufferance: An estate in land arising when the tenant wrongfully holds over after the expiration of the tenant's term; the landlord has the choice of evicting the tenant as a trespasser or accepting such tenant for a similar term and under the conditions of the tenant's previous holding. Legal description: A description recognized by law that is sufficient to locate and identify a property without oral testimony. Real Estate RSF abbreviation meaning defined here. TDR’s can be used either to: Increase house size, or obtain development right within a UGB (Urban Growth Boundary). Escheat: reversion of property to the state when an owner dies without leaving a will or legal heirs to whom the property may pass by lawful descent. Employing broker: A license level qualifying a broker to employ other licensees, requiring two years of active licensed experience, a 24-hour “brokerage administration” course if licensed after December 31, 1996 and passage of the Colorado part of the broker licensing exam if upgrade to broker associate from salesperson was by means of the broker transition course. Tenant agent: A broker engaged by and representing the tenant in a leasing transaction. Depreciation: Loss in value due to deterioration from ordinary wear and tear, action of the elements, functional or economic obsolescence. Low condo dues, private yard and one car parking just steps to 24th Street in the Mission! Survey: The measurement of a parcel of land and its characteristics. The open floor plan living/dining provides a seamless entertaining experience, and features a brushed metal gas fireplace, ceiling fan, hardwood floors, and an adjacent gourmet kitchen appointed with stainless appliances, granite counters with counter seating for four, and ample custom cabinetry with glass door upper units. Joint tenancy:A type of co-ownership of real property featuring a right of survivorship and four unities (time, title, interest and possession). Obsolescence: Impairment of desirability and usefulness of the property resulting from economic, functional, physical, fashion, or other changes. All Rights Reserved. Latin abbreviation for "et uxor", meaning "and wife". Community property: Property acquired by a husband and wife, or either, during marriage, by their industry and not by gift, belonging equally to husband and wife.

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