Category: Real Estate
1. MLS Status Explanations (In plain English) What’s cool about …
ACT “Active RFR” (Right of First Refusal) means there’s a contract on the home but with a. RFR contingency. The details of a contingency are negotiated between 1 page(1)…
The “active with contingencies” status means that the seller has accepted an offer from a buyer, but the buyer must meet certain conditions before the sale may (2)…
Latin abbreviation for “et uxor”, meaning “and wife”. Eviction: Dispossession by process of law; the act of depriving a person of the possession of land (3)…
2. MLS Property Listing Statuses – A&S Realty
Active (ACT). A property marked as ACTIVE will be available for purchase or for rent on MLS. (Note: in times of peak traffic properties can move (4)…
Mar 24, 2021 — A new bill facing Congress could mean that real estate agents would lose their independent contractor status.(5)…
What Is the Real Estate Settlement Procedures Act (RESPA)?. The Real Estate Settlement Procedures Act (RESPA) was enacted by Congress in 1975 to provide (6)…
3. Real Estate Settlement Procedures Act (RESPA) – National …
NAR continues to work with the CFPB and industry partners to ensure that helpful RESPA guidance is provided to practitioners. NAR published a list of Do’s and (7)…
Oct 18, 2021 — Common real estate status codes and listing terms: Active. This means that a property is currently on the market and available for sale. It may (8)…
4. The Ultimate Real Estate Glossary – The Real Deal New York
An agreement between competent parties upon legal consideration to do, or abstain from doing, some legal act. Contract buyer’s policy: Title insurance that (9)…
Jun 6, 2008 · 10 posts · 4 authorsI recently saw a listing marked as “ACT-O”. What does it mean??? action? .. Thanks for help!(10)…
Jan 29, 2020 — We break down the Fair Housing Act and what real estate agents need to know for creating a fair and equal home purchasing environment for (11)…
Mar 24, 2021 — For real estate, the Act might mean that the existing system of real estate agents as independent contractors in real estate brokerage would (12)…
Oct 16, 2019 — A conventional sale is when the property is owned outright (has no mortgage remaining) or the owner owes less on their mortgage than what the (13)…
5. Common HUD Terms and Acronyms
FHA Single Family Housing designated area for special property sales initiatives. Fair Housing Act, 1968 act (amended in 1974 and 1988) providing HUD (14)…
Real estate brokers are employed as the agent of the seller in order to obtain a buyer for their property. · The Federal Fair Housing Act · The agreement to sell (15)…
Deed of trust – one form of real estate security agreement granting a security Equal Credit Opportunity Act (ECOA) – a federal (US) statute which (16)…
6. 765 ILCS 77/ Residential Real Property Disclosure Act.
“Residential real property” means real property improved with not less than one nor more than The provisions of this Act do not apply to the following:(17)…
(b) “Buyer” means any individual, partnership, corporation, or trustee entering into an agreement to purchase any estate or interest in real property. (c) ” (18)…
(a) A licensed real estate broker in the capacity of a salesperson, to do or to deal in any act, acts or transactions included within the definition of a (19)…
“Declaration” does not include a declaration of a condominium, real estate cooperative, time-share project, or campground. “Development” means real property (20)…
7. TREC Rules – Texas.gov
does not own the property or lease the property from its owner;; receives valuable consideration; and; is not exempt under the Act. A real estate license is (21)…
(G) “Foreign real estate salesperson” means any person associated with a licensed foreign real estate dealer to do or deal in any act or transaction specified (22)…
Mar 18, 2021 — No real estate firm can argue that their brokers and salespeople meet the ABC independent contractor test. Thus, by definition, we all become (23)…
8. Real Estate Settlement Procedures Act (RESPA) | Bankrate
Oct 21, 2021 — What RESPA means for you. RESPA’s main purpose is to provide you with some peace of mind as you’re buying a home. It can be challenging to know (24)…
Define Housing Act. means the United States Housing Act of 1937, so long as the Servicer does not receive or derive any income from such Person and (25)…
3.1 Definition Clause · 3.2 Registration of Real Estate Project and Real Estate Agents · 3.3 Establishment of Real Estate Regulatory Authority and Appellate Enacted by: Parliament of IndiaBill citation: XLVI-C of 2013Introduced by: Dr. Girija Vyas, Minister of HousBill published on: 14 August 2013(26)…
9. Business and Professions Code – BPC – California Legislative …
A real estate broker within the meaning of this part is a person who, (a) Subdivision (b) of Section 10131 does not apply to (1) the manager of a hotel, (27)…
Real Estate Council of Alberta (RECA) administers the Real Estate Act to promote the means a corporation as defined in the Condominium Property Act;.(28)…
10. Real Estate Law Overview – Justia
Oct 13, 2021 — Intangible property refers to ownership that does not have a physical Other real estate law is common law, meaning that it evolved from (29)…
Today, the Texas Real Estate License Act is part of Chapters 1101 of the Texas Occupations Code, and regulates real estate brokers and salespersons. In case you (30)…
Each brokerage firm shall have one, and only one, principal place of business. “Supervision” means the act of directing, inspecting, and reviewing. “Trust (31)…
Get the definition of real estate conversion and understand what The legal definition of conversion is the act of using property or funds with which one (32)…
1724 , as amended, known as the Real Estate Settlement Procedures Act of 1974, (4) the term “title company” means any institution which is qualified to (33)…
as the Real Estate Licensing and Registration Act. mean a transfer of any interest in real property located within this Commonwealth, (34)…
(a) A real estate broker within the meaning of this Chapter is any person, (c) The provisions of G.S. 93A-1 and G.S. 93A-2 do not apply to and do not (35)…
“association” means The Manitoba Real Estate Association Inc., (b) any broker that does not have an authorized official in charge of each of the (36)…
For the purposes of this Act, a “real estate brokerage contract” means even if the real estate brokerage contract does not require that the intermediary (37)…
The Real Estate Settlement Procedures Act of 1974 (RESPA) (12 U.S.C. 2601 et seq.) information, but may do so through various means including through a (38)…
Excerpt Links
(1). MLS Status Explanations (In plain English) What’s cool about …
(2). What Does “Active” Status Mean in Real Estate? – Redfin
(3). Real Estate Glossary | What Does it All Mean? – Coldwell …
(4). MLS Property Listing Statuses – A&S Realty
(5). What Could the PRO Act Mean for Real Estate? | Millionacres
(6). Real Estate Settlement Procedures Act (RESPA) – Investopedia
(7). Real Estate Settlement Procedures Act (RESPA) – National …
(8). Contingent vs. Under Contract: What Do Real Estate Status …
(9). The Ultimate Real Estate Glossary – The Real Deal New York
(10). What does “ACT-O” mean? (fee, attorney, inspection, contract)
(11). What Does the Fair Housing Act Mean for Real Estate Agents?
(12). What Could the PRO Act Mean for Real Estate? – MSN
(13). 52 essential real estate terms you should know | Opendoor
(14). Common HUD Terms and Acronyms
(15). Real estate transactions | Wex | US Law – Legal Information …
(16). Glossary of Real Estate Terms – American Bar Association
(17). 765 ILCS 77/ Residential Real Property Disclosure Act.
(18). 420 ILCS 46/ Illinois Radon Awareness Act.
(19). NRS: CHAPTER 645 – REAL ESTATE BROKERS AND …
(20). Property Owners’ Association Act – Virginia Law
(21). TREC Rules – Texas.gov
(22). Chapter 4735 – Ohio Revised Code
(23). What happens to Realtors if the PRO Act passes? – HousingWire
(24). Real Estate Settlement Procedures Act (RESPA) | Bankrate
(25). Housing Act Definition: 162 Samples | Law Insider
(26). Real Estate (Regulation and Development) Act, 2016
(27). Business and Professions Code – BPC – California Legislative …
(28). Real Estate Act | RECA
(29). Real Estate Law Overview – Justia
(30). What Is the Texas Real Estate Act (TRELA)? – AceableAgent
(31). HAWAII ADMINISTRATIVE RULES Chapter 16-99 Real estate …
(32). Definition And Meaning Of Real Estate Conversion
(33). 12 USC Ch. 27: REAL ESTATE SETTLEMENT PROCEDURES
(34). RESIDENTIAL REAL ESTATE TRANSFERS LAW – Pa …
(35). Chapter 93A – North Carolina General Assembly
(36). The Real Estate Brokers Act – Province of Manitoba
(37). C-73.2 – Real Estate Brokerage Act – Gouvernement du Québec
(38). CFPB Consumer Laws and Regulations RESPA
