Tuesday, May 7, 2024, 12:46 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
A
ACCRETIONGradual additions to land by deposits of sand or soil by bordering waters through natural causes. |
ACCRUED DEPRECIATIONThe difference between the cost of a replacement new, on the date of the appraisal, and the present appraised value. |
ACCRUED ITEMS OF EXPENSEThose incurred expenses which are not yet payable. The seller's accrued expenses are credited to the purchaser in a closing statement. |
ACCUSATIONA written statement of charges against the licensee, delivered to him prior to a hearing regarding the possible revocation or suspension of his license. |
ACKNOWLEDGMENTA formal declaration made before a notary public or other authorized person, by a person who has executed an instrument, that such execution is his free act and deed. |
ACQUISITIVE PRESCRIPTIONCivil Law Term: A concept existing in Louisiana Civil law which is similar to the Common Law concept of adverse possession. |
ACREA measure of land equal to 160 square rods, 4,480 square yards, or 43,560 square feet. |
ACRE FOOTThe volume of water equal to the quantity of water required to cover 1 acre 1 foot deep; 43,560 cubic feet. |
B
BALLOON PAYMENTThe final installment payment on a note which is greater than the preceding installment payments and pays the note in full. |
BARGAIN AND SALE DEEDA deed used to convey title to real property, which may or may not include warranties; if any, they are generally limited to an assertion by the grantor that he has possession of the property. |