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Concepts and Responsibilities of Home Ownership

Across
__ use property combines residential units with retail, entertainment, and office space.
A/An __ is a residential dwelling that consists of two units which usually mirror each other.
__ Exemption - Excludes the entire property’s appraised value from taxation.
__ Exemption - Removes a percentage or fixed dollar amount of a property’s appraised value from taxation.
In a/an __ development, each owner owns stock in a corporation and has the right to occupy a unit under a proprietary lease.
A/An __ is a development in which there is individual fee simple ownership of a unit and shared ownership of common areas with other owners as tenants in common.
__ homes consist of pre-built pieces that are constructed in a factory and then transported to the home site where the pieces are put together to create the building.
A/An __ is the amount that the owner must pay, when a loss occurs, before the insurance company will pay the balance.
General property taxes are levied on an ad __ basis, meaning that they are based on the assessed value of the property.
__ is a company that reviews an individual’s history of insurance claims.
Down
__-family homes are probably the most common property involved in real estate sales for most brokers and agents.
To qualify for the __ property exemption, the state of Texas or a political subdivision of the state must own the property.
__ insurance covers a home owner for losses due to lawsuits.
Property owned by qualified __ organizations is tax exempt.
__ may also be called loan origination fees, loan discount, or discount points.
__ insurance is another name for insurance that relates to protection from loss of the structure of the house due to events such as fire, wind, hail, storms, etc.
__ shares ownership is primarily associated with vacation and resort properties.
__ Life Insurance - This insurance is available to a home owner who wants coverage in the event that the home owner dies or becomes disabled while the mortgage is in place.
A/An __ house shares characteristics of both a single-family dwelling and a condominium.
__ warranty is a “type” of insurance that covers the repair or replacement of appliances, plumbing, HVAC, etc.