ft-contracts-c

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Across
  1. 4. An employment contract between principal and agent authorizing the agent to perform services for the principal involving the latter's property.
  2. 7. Refers to the four conditions required to form a legal contract: capable parties, acceptance, legal object and consideration.
  3. 8. Written instrument which when properly executed and delivered conveys title to real property from one person (grantor) to another (grantee).
  4. 10. A leasehold interest in which rent is based on the rental value of the land, whether the parcel is vacant or improved.
  5. 12. An agreement granting a tenant the right to continue in possession upon expiration of the existing lease under a new lease agreement on the same conditions as the expiring lease agreement on terms for payment of rent set out in the option to renew.
  6. 13. Describes a note calling for periodic payments of principal and interest, or interest only, until the principal is paid in full by amortization or a final balloon payment.
  7. 15. A document used to convey whatever interest, if any, the grantor may hold in the real estate.
  8. 17. An employment entered into by a broker to render real estate services on a best-efforts basis under which a fee is due to the broker if they achieve the client's objective of the employment before the client or another broker separately first meet the objective, such as the sale or locating of a property.
  9. 18. An agreement granting an irrevocable right to buy property within a specific time period.
  10. 19. An agreement to be obligated to pay the debt or perform on a contract of another person if that person defaults or does not perform.
  11. 21. A contract that cannot be enforced in court of law.
Down
  1. 1. A document which sets forth all crucial elements typically negotiated to bring the landlord and tenant together in final leasing arrangements.
  2. 2. A nonresidential lease specifying that the tenant pays for their utilities and janitorial fees, but unless modified is not responsible for any other care, maintenance or carrying costs of the property.
  3. 3. Anything given or promised by a party to induce another to enter into a contract. It may be a benefit conferred upon one party or a detriment suffered by the other.
  4. 5. Short for: A standardized mortgage application completed by the buyer with the assistance of the transaction agent and the mortgage lender's representative.
  5. 6. A provision in a nonresidential lease agreement which establishes the landlord’s and tenant’s responsibility for the care and maintenance of the premises during the lease term.
  6. 9. Directives an escrow officer undertakes as given by an investor and a seller-in-foreclosure to coordinate a closing on a purchase agreement.
  7. 11. Receipt of an item not of like-kind property, such as cash or mortgage relief, in a tax deferred exchange.
  8. 14. A purchase agreement provision establishing that dates for performance of any activity or occurrence of an event are to be strictly enforced as essential to the continuation of the transaction.
  9. 16. Descriebs a rent provision in a nonresidential lease agreement which increases the initial monthly rent in pre-set increments over the term of the lease.
  10. 20. The signing and delivery of a document, as occurs on a seller's acceptance of an offer to buy real estate by signing and delivering the signed document to the buyer.