CAPITAL
The collective wealth (money and property) of a person or business; the investment in a property.
(See also Equity.)
CAPITAL ASSET
Certain property held by a tax payer, not including inventory for sale to customers.
CAPITAL DEFICIT AREA
A region where the total amount of local savings (investment capital) is not sufficient to finance economic development already under way in that area.
CAPITAL GAIN
The profit from the sale of a capital asset, including real property.
CAPITALIZATION RATE
The relationship between the net income from a real estate investment and the present value.
CASH FLOW (AFTER TAX CASH FLOW)
The resulting amount when annual debt service, tax liability, and capital improvement costs are subtracted from net operating income.
CAVEAT EMPTOR
Let the buyer beware!
CEASE AND DESIST ORDER
An action by a government agency to require a person or business to stop an illegal or unfair practice.
CENSURE
An official act of strong disapproval.
CERTIFICATE OF TITLE OPINION (OPINION OF TITLE)
A document signed by a title examiner (attorney or title company agent) stating the judgment that, based on an examination of the public records, the seller has good title to the property being conveyed to the buyer (not to be confused with title insurance.)
CERTIFIED APPRAISER
(See state certified appraiser)
A person verified by the DBPR as qualified to issue state-certified real property appraisals.
CERTIORARI, WRIT OF
An order to bring from a lower court to an appellate court an action or record of proceedings in case.
CHAIN OF TITLE
A successive listing of all previous holders of title (owners) back to an acceptable starting point.
CHATTEL
Any item of personal property. (See also personal property.)
CHECK
A square measuring 24 miles on each side and representing the largest unit of measure in the government survey system.
CITATION
A statement of alleged violation and the penalty to be imposed.
CLAUSE
A distinct provision in a written document.
CLOSING
Final settlement between the buyer and seller; the date on which title passes from the seller to the buyer.
CLOUD ON TITLE
Any defect, valid claim, or encumbrance that serves to impair the title or curtail the owners rights.
COLLATERAL
Real or personal property pledged as security on a debt.
COLLUSION
Two or more parties jointly or attempting to defraud a third party.
COLOR OF TITLE
A condition in which ownership of real property appears to be good but is not good because of a defect.
COMMINGLE (INTERMINGLE)
To mix together money or a deposit with personal funds; combine.
COMMISSION
Compensation paid to a broker or salesperson for successfully concluding a real estate transaction; short form for Florida Real Estate Commission.
COMMON ELEMENTS
The parts of multiple-ownership property not included in the units; those parts in which each unit owner holds an undivided interest.
COMMON LAW
A system of law based on accepted customs and traditions.
COMMUNITY PROPERTY
Real property acquired during a marriage. (Florida is not a community property state.)
COMPARABLE PROPERTY (COMPARABLE; COMP)
A recently sold property similar to one being evaluated.
COMPARATIVE MARKET ANALYSIS (CMA)
An informal estimated of market value performed by a real estate licensee for the seller to assist in arriving at an appropriate listing price, or if working with the buyer, an informal estimate of market value to assist the buyer in arriving at an appropriate offering price.
COMPLAINANT
A person who makes an allegation or charge against another (the respondent) (See also plaintiff.)
COMPLAINT
Formal allegation or charge.
COMPREHENSIVE PLAN (MASTER PLAN)
A statement of policies for the future physical development of an area. (e.g., city, county, region.)
CONCEALMENT
The act of keeping from sight or keeping secret.
CONDEMNATION
The taking of private real property for a public purpose under the right of eminent domain for a fair price.
CONDOMINIUM
A multi-unit project consisting of individual ownership of a dwelling unit and undivided ownership of common areas.
CONFLICTING DEMANDS
When different parties each make claims that are inconsistent with another.
CONSIDERATION
Inducement offered to conclude a contract.
CONSTRUCTION LIEN (MECHANIC'S OR MATERIALMAN'S LIEN)
A claim based on the principle of unjust enrichment; favors parties who have performed labor or delivered materials or supplies for the repair  or building if an improvement to real property.
CONSTRUCTIVE NOTICE
The recording of a document or an instrument in the public records designed to give adequate notice to all.
CONSUMER PRICE INDEX (CPI)
A measurement of average price changes of goods and services using a base period.
CONTRACT
An agreement between two or more competent parties to do or not to do, some legal act for a legal consideration.
CONTRACT FOR DEED
A financing technique wherein the seller agrees to deliver the deed at some future date and the buyer takes possession while paying the agreed amount. (also called land contract, an installment sale contract, and an agreement for deed.)
CONVENTIONAL MORTGAGE
A real estate loan granted that is neither FHA-insured nor VA-guaranteed
CONVERSION
Unauthorized use or retention of money or property that rightfully belongs to another person.
CONVERTIBLE MORTGAGE
A financing instrument allowing a change from an adjustable-rate to a fixed rate mortgage.
CONVEYANCE
Written instrument that serves to transfer an interest in real property from one party to another.
COOPERATIVE
A multiunit project consisting of individual dwelling units owned by the corporation in which the individual apartment tenants own stock rather than owning the respective units.
CO-OWNERSHIP (CONCURRENT OR MULTIPLE OWNERSHIP)
Title to real property held by two or more persons at the same time.
CORPORATION
An artificial or fictitious person formed to conduct specified types of business activities.
CORPORATION FOR NON-PROFIT
An artificial or fictitious person organized for business purposes and similar to corporation for profit.
CORPORATION SOLE
An artificial or fictitious person formed by an ecclesiastical body.
COST
The amount to produce or acquire something.
COST-DEPRECIATION APPROACH
A method for estimating the market value of a property based on the cost to buy the site and to construct a new building on the site, less depreciation.
COUNSELING
The process of analyzing existing or potential real estate problems and recommending a course of action.
COUNTER OFFER
A rejection of the original offer by proposing a new offer, thereby terminating the original offer.
COVENANT
A warranty, guarantee, or promise formally given in a legal document.
CREDIT
As a verb, to make an entry on the right or credit side of an account; as a noun, payment or value received.
CREDITOR
A lender; person or business entity to whom a debt is owed.
CULPABLE NEGLIGENCE
Inadequate attention to duties and obligations by one who knows , or should know, what is required of him or her.
CURBSTONE OPERATION
Conducting business without maintaining an office.
CUSTOMER
One with whom the broker or salesperson hopes to be successful in accomplishing the purpose of employment.