Dictionary

Fee Simple Estate

Definition:   The maximum possible estate one can possess in real property.  It is the least limited interest and the most complete and absolute ownership in land. Pronunciation: Used in a...

Federally Related Transaction

Definition:   Any sale transaction that involves a federal agency in either the primary or secondary mortgage market.  Under FIRREA, state-certified or state-licensed appraisers must be used for certain loans in...

Federal Trade Commission (ftc)

Definition:  A federal agency that investigates and eliminates unfair and deceptive trade practices. Pronunciation: Used in a Sentence:   Inducing purchasers to buy something by using high-pressure tactics is illegal under...

Federal Housing Administration (fha)

Definition:  A federal agency that insures mortgage loans made by FHA-approved lenders on homes that meet FHA standards in order to make mortgages more desirable investments for lenders. Pronunciation: Used...

Federal Deposit Insurance Corporation (fdic)

Definition:   A federal agency that insures the deposits of member banks and savings associations. Pronunciation: Used in a Sentence:   I always check to see if a bank is part of...

Farm Area

Definition:   A term to indicate either a geographical area or a group of people from which to solicit real estate business and which a real estate professional devotes special attention...