illinois real estate acronyms

M A R K I L E M O N S - RY H A L

ILLINOIS REAL ESTATE ACRONYMS

TERMINATION OF AGENCY

BADD MICEB BankruptcyA AbandonmentD DestructionD DeathM Mutual AgreementI IncapacityC CompletionE Expiration

FIDUCIARY RESPONSIBILITIES

OLD CARO Obedience

L Loyalty

D Disclosure

C Confidentiality

A Accountability

R Reasonable Care

UNLICENSED ASSISTANT

SEAS Secretarial

E Errands

A Administrative

5 ANTI-TRUST LAWS

TAR GAPT Tie In Agreement

A Allocation of Customers

R Restrain of Trade

G Group Boycotting

A Allocation of markets

P Price Fixing

GOVERNMENT POWERS

PETEP Police Powers

E Eminent Domain

T Taxation

E Escheat

FIXTURES

I Intention

A Annexation

A Adaption

A Agreement

REAL PROPERTY ECONOMIC CHARACTERISTICS

P Performance of Investment

I Improvements

S Scarcity

A Area of Preference

REAL PROPERTY PHYSICAL CHARACTERISTICS

Invest In Us

I Immobility

I Indestructibility

U Uniqueness

REAL PROPERTY BUNDLE OF LEGAL RIGHTS

D Disposition

E Enjoyment

E Exclusion

P Possession

C Control

VALID LEASE

CLOACC Capacity to

ContractL Legal ObjectivesO OfferA AcceptanceC Consideration

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