Board Of REALTORS®
Local group of real estate brokers who are members of the State and National Board of REALTORS®. Meets regularly with their membership and helps determine licensing requirements as well as managing the multiple listing service of their service area. They may also provide additional services to their members.
Popular Real Estate Terms
Trade name by the American Cyanamid Corporation for a plastic laminate surfacing material widely used on furniture, counter tops and wall coverings. Formica is hard, durable, and resistant ...
Provision in a lease agreement allowing the landlord to raise the rental to take into account inflation, higher upkeep costs, and higher interest rates. An index may be used such as the ...
When a person dies, a distribution of their estate takes place. The estate’s distribution is done through deeds depending on whether or not the deceased left a will. Two types of ...
A leasehold estate that can be determined by the lesser or lessee at any time. ...
Real estate sales contract where possession and use is provided to the buyer, but the deed is kept by the seller until the full purchase price is met whereupon the title is placed in the ...
Contract that intends to convey property form one individual to another but is defective in one respect. ...
Shingles having uniform length, but random width. Random shingles give a creative appearance to a roof. ...
The definition of in rem in real estate is a legal case against a property rather than a person. The legal application of in rem in real estate is most often seen when a homeowner defaults ...
Permits oral evidence to augment a written contract in certain cases. ...
Comments for Board Of REALTORS®
I had a contract to sell a commercial building in Texas. Two or three days prior to the expiration date, I sent an email to my realtor. In the subject line it said termination and lock codes. In the body f the letter I said nothing about terminating earlier than the signed contract. I sent this email to her to basically get the codes to supply my new realtor to access to the property. I never mentioned to terminate early. I knew she had a possible client and even though she didn't sell the property, I wanted to see if she could get an offer placed in the last couple of days. The contract had been extended one month and a couple of weeks as she was changing brokers. I did sign a new contract for her to work with a new broker, cut never signed a termination of contract. She is now saying I own her for money she spent while trying to find a buyer. Is there something you need to sign to terminate a contract? My local realtor said that there is.
Jan 09, 2023 18:19:34Hello Margaret! Thank you for contacting us1
Jan 25, 2023 09:22:16Rules, laws, and requirements are different or can vary in each state. We recommend that they reach out to a real estate attorney who knows the law by heart and can give you an adequate response.
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