Cyprus Real Estate Agent Exam key terms

A legally relevant right or relationship concerning property, whose content must be identified rather than inferred from possession alone.

The relevant ownership right or evidence of that right under the applicable system, distinguished from a guarantee that every defect is absent.

A claim, right or restriction affecting property under its actual conditions, whose significance depends on the transaction and governing law.

An arrangement granting defined use or possession in return for the agreed consideration under its conditions, distinguished from transferring every ownership right.

An ownership arrangement combining defined individual and shared rights under the applicable framework, rather than an ordinary lease of the whole property.

The authorized relationship and scope under which a professional acts for another person, distinct from unrestricted power over every related decision.

A purposeful examination of relevant facts, records and risks before a decision, rather than a guarantee that no unknown issue exists.

A stipulated condition whose fulfillment has a defined effect on an obligation or right, requiring the actual wording and governing law.

Entry of an instrument or relevant information in the designated system, whose legal effect must be assessed under the applicable framework.

The relative legal ranking of competing rights or claims, determined by the actual rules and facts rather than chronology alone in every case.

Income after the operating items specified by the model, distinguished from gross rent, debt service and an unsupported cash-distribution figure.

The stated rate used to relate a defined income measure to value in a capitalization model, requiring consistent units, period and assumptions.

An assumption or adjustment for unoccupied or uncollected rental capacity under the stated model, not a certainty about future receipts.

Spending on the relevant long-term asset or improvement under the accounting basis, distinguished from every ordinary operating payment.

A value concept defined by the relevant valuation framework and assumptions, distinct from an automatic guarantee of the next transaction price.

Information about relevant other properties or transactions adjusted for meaningful differences, rather than any convenient nearby asking price.

Money held or handled for a client under a relevant mandate, whose use is constrained by actual rights, instructions and applicable duties.

A competing interest that could affect professional judgment or duties, requiring assessment and appropriate treatment under the actual framework.

The relevant risk remaining after identified controls or actions, which should be explained instead of presenting the transaction as certain.

The boundary of authorized and competent work for a particular role, including recognition of questions requiring another qualified professional.