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Definitions (306)
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Abandonment of Property
To vacate a property with a definite intention never to return.
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abstract of title
Registry System: A condensed history of the title to a parcel of land consisting of a synopsis of every recorded instrument affecting the title to that land arranged in chronological order of recordin [..]
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ACCELERATION CLAUSE
A clause in a mortgage which provides that where default has occurred in making any payment of moneys due under a mortgage or in the observance of any covenant in a mortgage and under the terms of the [..]
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acceptance
The offeree's consent to enter into a contract and to be bound by the terms of the offer.
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Accrued interest
The interest charged for the period of time that has elapsed since interest was last deducted.
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adverse possession
The right by which someone occupying a piece of land might acquire title against the real owner, if the occupant's possession has been actual, continuous, hostile, visible, and distinct for a sta [..]
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Affidavit
A statement or declaration in writing and sworn to or affirmed before some officer who is authorized to administer an oath or affirmation, such as a notary public, or commissioner of oaths.
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Agency
An agency is created when one person, called the principal, authorizes another person, called the agent, to act on behalf of and subject to the control of the principal.
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Agreement of Purchase and Sale
A written agreement between vendor and purchaser in which the purchaser agrees to buy certain real property and the vendor agrees to sell upon terms and conditions as set forth in that agreement.
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alienation clause
A type of acceleration clause that demands payment of the entire debt upon sale or other transfer of the title.
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