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New Jersey Real Estate Terms 2024-2025, Exams of Real Estate Management

The College of New Jersey (TCNJ)Real Estate Management

New Jersey Real Estate Terms 2024-2025

Typology: Exams

2024/2025

Available from 01/07/2025

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  • New Jersey Real Estate Terms 2024 -
Actual Fraud — ANS—An intentional misrepresentation or concealment of a material fact; when a person actively conceals material information or makes slalements that he knows are false or misleading. Appropriative Rights - ANS—Water rights allocated by government permit, according to an appropriation system. It is nol necessary Lo own property beside the body of water in order to apply for an appropriation permit. Appurtenance — ANS—A right that goes along with ownership of real property; usually transferred with the properly, bul may be sold separately. Annexation — ANS and the law views it as part of the real property. — Attaching personal property to land so that it becomes a fixture Avulsion — ANS—A natural process in which land is removed from one person's property and deposited onto another's. Avulsion happens very suddenly, as in a flash flood. Comparative Market Analysis (CMA) — ANS-A method of determining the approximate market value of a home by comparing the subjcet property to similar homes that have sold. are presently for sale. or did not sell ina given area, Also called Competilive Market Analysis. Competitive Market Analys — ANS-A method of determining the approximate market yalue of a home by comparing the subject property to similar homes that have