Friday, May 3, 2024, 1:58 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
C
CERTIFIED PROPERTY MANAGERCommonly known as C.P.M.; this identification is bestowed upon any property manager who has met the requirements of the Institute of Property Management operated under the auspices of the National Association of Realtors. |
CHAIN OF TITLEA sequential history of the conveyances and records of ownership to a piece of property through the years from the original grant to the present, as revealed through the public records. |
CHATTELPersonal property which is tangible and movable. |
CHATTEL MORTGAGEA mortgage covering personal property. |
CIVIL CODECivil Law Term: In Louisiana, the system of law as distinct from the common law of other states; handed down from the French and Spanish settlers who established their system of laws before the Louisiana Purchase. |
CLIENTThe principal to a real estate transaction who employs the agent. |
CLOSINGThe time when a transaction is consummated, or the actual signing over of the documents and delivery of the deed; the time after signing when the documents are recorded. |
CLOSING STATEMENTA statement of settlement made by a broker or an escrow company that reflects the financial position of the buyer and seller in that particular real estate transaction. |
CLOUD ON TITLEAny conditions revealed by a title search which may affect or impair the owner's title to property because of their apparent or probable validity. |
CO-OWNERSHIP - Civil Law TermThe only method by which more than one party can own property in Louisiana. Involves undivided fractional interests of ownership, not necessary equal in proportion. |