Dower: A common estate that consists of a third of a man`s property given to his wife after his death. Colorado. Royalty tail: land that cannot be transported but must descend to the heirs of the holder; Colorado. Owner: A landlord who rented land to a tenant. In the event that more than one owner is interested in developing a shopping mall, the most common scenario is that one of the owners is a developer and the other owner is a large retailer (z.B. Target or Wal-Mart) in that mall. Often, the developer will lease part of the property to the large retailer, in which case an REA is not required as the lease provides for the construction and operation of the shopping centre. However, if the large retailer wishes to acquire part of the property, the developer and the large retailer must complete an REA. If this is not the case, there will be no contractual agreement between the developer and the major retailer that regulates things such as the construction of the shopping centre, the architectural compatibility of the buildings and the use of the community area. Without REA, the developer or large retailer could build what they want and whenever they want, and could possibly prevent the other party from using their package for parking lots, access lines or power lines. Time-Share: An interval interest in real estate that limits ownership or occupancy rights to certain periods. The property can be either paid (said) or “right to use” (contract or membership). In Colorado, time share sales are subject to licensing rights.
Transaction broker: a broker who supports one or more parties during a planned real estate transaction with communication, interposition, advice, negotiation, contractual terms and closing, without being an agent or lawyer for the interests of a party. Tenant: party holding real estate under a rental agreement; Tenants are usually called tenants. Title: In real estate, law or proof of property rights. Equity: the amount of a homeowner`s share in real estate above his expenses. Listing: A verbal or written agreement or employment contract, the owner authorizing the real estate agent to sell, exchange or rent real estate.