Real Estate Acronyms

Principals of Agency
C - Compensation
R - Reimbursement
I - Indemnification
P - Performance


Agency Law - Duties to Client 
P - Personal Performance
O - Obedience to Legal Instruction
L - Loyalty ( Promote and Protect Client )
A - Accountability ( Funds )
N - Notice ( Written and Informed )
D - Due Care/Diligence

Agency Termination
R - Revocation
E - Expiration of Agreement
A - Agreement
D - Death of Either Party
I - Incapacity
E - Extinction of Purpose
S - Subject of Law ( Illegality )

What an Agent owes to a Customer
H - Honesty
A - Accountability
D - Disclosure

Agent must have a license to
B - Buy
A - Appraise
R - Sell
S - Sell
A - Auction
L - Lease
E - Exchange

Creating an Easement
P - Private Grant
O - On Agreement
P - Prescription
C - Condemnation
O - Operation of Law
R - Reservation
N - Necessity

Terminating an Easement
R - Release
E - Expiration
P - Prescription
M - Merger
A - Abandonment
N - Necessity

Essential Elements of a Contract
C - Competent Parties
O - Objective
M - Mutual Agreement
I - In Writing
C - Consideration

Fair Housing Act
F - Familial Status
R - Race
E - Equal Opportunity
S - Sex
H - Handicap
C - Color
O - Origin
R - Religion
N - Nationality

Test for Fixtures
M - Method of Attachment
A - Adaptation
R - Relation of Parties
I - Intention
A - Agreement

Government Rights, Fed, & Local
P - Police Power
E - Escheat
T - Taxation
E - Eminent Domain

Termination of a Lease
D - Death of Tenant
E - Eviction of Tenant
C - Condemnation
A - Agreement
F - Foreclosure or Bankruptcy

Termination of a Listing
D - Death
E - Expiration of Listing Contract
A - Agreement ( Mutual or Written )
R - Revocation
I - Incapacity ( Legally Incompetent )
E - Eminent Domain

Counting Days at Closing
B - Buyer
A - Add
D - Day

S - Seller
A - Accrual
C - Closing Date

Bundle of Rights
PO - Possession
CO - Control
EN - Enjoy
DI - Dispose

Adverse Possession
C - Continuous
O - Open
H - Hostile
E - Exclusive Adverse
N - Notorious

Economical Characteristics of Property
S - Scarcity
P - Performance of Investment
A - Area Performance
M - Modification

Physical Characteristics of Property
I - Immobility
N - Non-Homogeneity ( Uniqueness )
I - Indestructibility

Joint Tenancy
P - Possession
I - Interest
T - Time ( Same Time )
T - Title ( Same Time )
S - Survivorship

Value of Land
D - Demand
U - Utility
S - Scarcity
T - Transferablity