Business / Real Estate Glossary

Carbon Monoxide (Co): A colorless, odorless gas that occurs as a byproduct of burning such fuels as wood, oil and natural gas due to incomplete combustion.

Carcinogen: A cancer producing substance.

Care: The agent must exercise a reasonable degree of care while transacting the business entrusted to him or her by the principal. The principal expects the agents skill and expertise in real esta . . . View Full Definition

Carry-Back: Financing where the seller takes back a note for part of the purchase price secured by a junior mortgage, wraparound mortgage or contract for deed.

Carryover Clause: A carryover clause (often referred to as a safety clause) may be contained in a listing. It provides that a broker is still entitled to a commission for a set period of time after the listin . . . View Full Definition

Cash Flow Analysis: A cash flow analysis shows the effect an investment property has on an owners income in terms of tax benefits. Analyzes the return on investment after taxes on an income producing property. . . . View Full Definition

Cash Now: The net spendable income from an investment, determined by deducting all operating and fixed expenses from the gross income. When expenses exceed income, a negative cash flow results.

Cash Rent: In an agricultural lease, the amount of money given as rent to the landowner at the outset of the lease, as opposed to share cropping.

Cash-Out: When a seller of a property wants to receive the entire sales price in cash with no carry-back financing.

Cash-Out Scheme: Where a buyer offers a large cash downpayment and asks the seller to carry-back the balance as a subordinate trust deed.

Casualty: Casualty insurance policies include coverage against theft, burglary, vandalism and machinery damage as well as health and accident insurance. Casualty policies are usually written on specif . . . View Full Definition

Caveat Emptor: Latin for let the buyer beware. A buyer should inspect the goods or realty before purchase.

CC and Rs: Covenants, conditions and restrictions are limitations on land use, which are imposed by deeds, usually when land is subdivided. CC&Rs are a means of regulating building construction, densit . . . View Full Definition

Centers Of Influence: Influential people in a community. Real estate agents cultivate relationships with these centers of influence as a method of locating prospects in the community where the person has influenc . . . View Full Definition

Certificate Of Eligibility: A certificate issued by a Veterans Administration regional office to veterans who qualify for a VA loan. The Veteran Housing Act permits regional administrators to restore a veterans entitle . . . View Full Definition

Certificate Of Occupancy (CO): A certificate issued by a governmental authority indicating that a building is ready and fit for occupancy and that there are no building code violations. Some condominium developers insert . . . View Full Definition

Certificate Of Reasonable Value (CRV): A certificate insured by the Veterans Administration setting forth a propertys current market value estimate, based on a VA-approved appraisal. The CRV places a ceiling on the amount of a VA . . . View Full Definition

Certificate Of Sale: The document generally given to the purchaser at a tax foreclosure sale. A certificate of sale does not convey title: normally it is an instrument certifying that the holder received title t . . . View Full Definition

Certificate Of Title: A statement of opinion prepared by a title company, licensed abstracter or an attorney on the status of a title to a parcel of real property, based on an examination of specified public reco . . . View Full Definition

Cessation Of Work: A period of 60 days where no work is being conducted.

Chain Of Title: The succession of conveyances, from some accepted starting point, whereby the present holder of real property derives title.

Change: The appraisal principle that holds that no physical or economic condition remains constant.

Civil Action: An action where an issue, formed by some kind of complaint, is presented for trial. Proceedings are for declaration, enforcement, protection of a right, redress, or prevention of a wrong.

Civil Law: A system of law codified by statutes.

Civil Rights Act Of 1866: The Civil Rights Act of 1866 prohibits racial discrimination in the sale and rental of housing.

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