Real Estate Vocabulary Flashcards

These flashcards cover key vocabulary related to real estate ownership structures and title transfers.

Condominiums

A form of ownership involving several owners holding divided title to individual units and an undivided interest in the common elements.

CCR's

Covenants, conditions, and restrictions; rules governing condominiums established in the condominium declaration.

PUD's

Planned Unit Developments; combine different land uses such as housing, recreation, and businesses.

MUD's

Mixed Use Developments; high-rise developments combining offices, stores, theaters, and apartments.

Sole Proprietorship

A business structure where title to the business is held by one person.

General Partnership

A partnership where each partner is responsible for the debts up to their own resources.

Limited Partnership

A partnership where limited partners invest capital but do not manage the business, incurring less risk.

Corporation

A legal entity controlled by a board of directors.

Voluntary Transfer

Voluntary alienation; conveyance of title by sale or gift.

Public Grant

A voluntary transfer in which the government gives land to a private party.

Private Grant

A voluntary transfer in which title is transferred from one private party to another.

Public Dedication

A voluntary transfer in which title is given from a private owner to the government.

Deed

A written instrument by which title to real property is transferred.

Warranty Deed

A deed that guarantees that the title is good.