Real Estate Acronyms and Their Meanings | Massachusetts Institute of Technology

University:
Massachusetts Institute of Technology
Course:
11.431J | Real Estate Finance and Investment
Academic year:

2022
Views:

240

Pages:

1
Author:

gewoekerdodx

Real Estate Basics: Acronyms Acronym ***M.A.R.I.A. - Fixture test P.E.T.E. - Government Powers **T.T.I.P. - Joint Tenancy Meaning ***C.L.O.C. - Valid Contract (orLOCC) I prefer LOCC, think Law... Competent. Legal use. Offer and acceptance. Consideration. I prefer LOCC, think Law...:must be lawful to start with, Legal use Offer & acceptance....someone willing to offer and get into contract Competent party S.T.U.D. - Elements of Value A.C.O.L.D. - Duties of a Fiduciary relationship D.U.P.E. - Bundle of Rights A.A.I.D. - Steps of Advertising C.H.A.O. - Adverse Possession Scarcity. Transferability. Utility. Demand. Method Adaptability Relationship Intention Agreement -Police power -Eminent domain -Taxation -Escheat Time. Title. Interest. Position. Think "Don't catch A COLD" Accountable. Care and Skill. Obedience. Loyal. Disclose all information. Disposition. Use. Possession. Exclusion. Attention. Action. Interest. Desire. Continuous use. Hostile. Actual and exclusive. Open and notorious.