Saturday, May 18, 2024, 12:06 AM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
F
FEUDAL SYSTEMMedieval legal and social system in which ownership of the land was vested in the monarch. |
FIDUCIARYA person in a position of great trust and confidence, as the relationship between principal and agent. |
FINDER'S FEEA fee paid to a person for the services of putting together the two parties in a real estate transaction. |
FISCAL YEARA year, used for tax, corporate, and accounting purposes which begins on a date other than January 1. |
FIXTUREAn article of personal property which has been installed in or attached to land or a building thereon, in such a manner, that it is now considered to be a part of the real estate. |
FORCED HEIR - Civil Law TermA child of a deceased person who has not attained the age of twenty-four, or of any age who because of a mental incapacity or physical infirmity is incapable of managing his person or his property. |
FORCED PORTION - Civil Law TermThe portion of the property of a deceased person that his descendants must receive upon his death. |
FORECLOSUREProcedure whereby property pledged as security for a debt is sold to pay the debt in event of default in payments or terms. |
FRAUDThe intentional and successful employment of deception in order to cheat or deceive another person and to thereby gain some dishonest advantage. |
FREEHOLDAn estate in real property for an indefinite and uncertain time. |