Recission - answerLegal remedy of canceling, terminating or annulling a contract and restoring the parties to their original positions. Encumbrance - answerA claim against title or a limitation on use. Puffing - answerExaggerated statement or opinion by the broker. ADWR - answerArizona Department of Water Resources. Agency that oversees Active Management Areas and issues the Certificated of Assured Water Supply. Capitalization - answerAppraisal method of income property. It is determined that the income generated by the propterty determines the value. Duress - answerThe use of force or threat to make a person act; makes a contract voidable. Estate - answerThe degree, quantity, nature and extent of the interest that a person has in real property. Optionee - answerThe part who receives or purchases the option and has the right to exercise it. RESPA - answerReal Estate Settlement Procedures Act which governs the actions of brokers and title companies and prohibits kickbacks. Yield - answerAnnual interest income divided by the amount invested in the loan. Bequest - answerTransfer of personal property through a will. Tacking on - answerAdding successive periods of continuing occupation to qualify for title by adverse possession. Advisory Board - answerBoard consists of 9 members who serve a 6 year (staggered) term. They are appointed by the Governor and the purpose of this Board is to advise the Real Estate Commissioner. They are not compensated for their service. Constructive Eviction - answerThis exists when, through the fault of the landlord, physical conditions of the property render it unfit. This is the tenant's remedy if the landlord doesn't maintain property in habitable condition. Alienation Clause - answerIn a deed of trust or mortgage, a provision that if the secured property is sold or transferred, the lender has the option of accelerating the loan declaring the entire unpaid balance immediately due and payable; also called the "due on sale" clause. Executer - answerA person appointed by a will to administer the estate of the deceased. Landlord Tenant Act - answerStatutes for the protection of the residential landlord and tenant. Purpose is to simplify the rights and obligations of landlords and tenants. Peroidic Estate - answerA leasehold estate that continues for an indefinite period of time. A commonly used rental form, known in the vernacular as a "month to month" tenancy. Its cancellation requires notification by either landlord or tenant. Death or sale of the property does not terminate the lease. Special Assessments - answerA special real estate tax against a property for specific improvement that benefits the property such as a street or sewer. Usually assessed on a front-foot basis. The first dimension of a lot is the front foot.