Property Ownership
What is the principle of accretion in real estate?
AThe growth in property value over time
BThe gradual addition of land by natural forces such as water deposits along a shoreline✓ Correct
CThe accumulation of property tax debt
DThe growth of a lien over time
Explanation
Accretion is the gradual addition of land through the natural deposit of soil, sand, or silt along a water body. The landowner gains title to the additional land.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Math Concepts
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