Junior Mortgage
~ Any mortgage recorded after the first mortgage .
Deficiency Judegement
~ Money still owed by the borrower if the foreclosure sale does not bring in
enough money to pay the debt owed
Demand deposits
~ These banking deposits- such as those made to a checking or traditional...
✓~ Includes hotels motels golf courses resorts sporting arenas movie theaters and
restaurants (Requires hands on management)
industrial property rights
✓~ Includes heavy or light manufacturing warehouse and distribution. Clear height
is a key consideration
Healthcare properties
✓~ Includes doctors offices urgent care clinics hospitals require a specialized
outfitting
Office buildings
✓~ Includes Class A, B or C; may be high rise or low rise
four elements of a legally valid contract
, ✓~ 1. Competent parties
2. Mutual agreement (offer and acceptance)
3. Lawful objective
4. Consideration
Statute of Frauds
✓~ Dictates that all contracts must be in writing
four elements of a legally valid contract
✓~ 1. Competent parties
2. Mutual agreement (offer and acceptance)
3. Lawful objective
4. Consideration
Statute of Frauds
✓~ Dictates that all contracts must be in writing
Retail Properties
, ✓~ Includes store fronts, shopping centers, malls
Residential properties
✓~ Properties design for dwelling
Commercial properties
✓~ Property is designed for commerce And profit
Specialty properties
✓~ Includes mixed-use, planned-unit development and transit-oriented
development
mixed-use development
✓~ development that combines housing and businesses in a single building
Planned Unit Development (PUD)
✓~ A high density project with mixed zoning (e.g. retail or residential healthcare
etc.)
, Transit-oriented development (TOD)
✓~ development focused around a transportation hub
Class A office building
✓~ These buildings have high-quality standard finishes state of the art systems
exceptional accessibility and a definite market presence
Class B office building
✓~ These buildings have adequate systems and finishes that are fair to good for
the area
Class C office building
✓~ These buildings are aimed at tenants requiring functional space at below
average rents for the area
Farm broker
✓~ Deals already buying and selling farms. Farms can range from small family
farm to a corporate farm and thousands of acres. Hornberger must be well-versed in
all six of agriculture as well as state and federal taxes including those related to farm
subsidies
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
