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National Association of
Realtors (NAR): the largest real
estate professional organization in the world, reperesenting all branches of the
real estate industry.
net lease:
a lease requiring that the tenant pay not only rent but also costs incurred in
maintaining the property, including taxes, insurance, utilities, and repairs.
net listing:
a listing based on the net price the seller will receive is the property is
sold.
nonconforming use: a use of property that is permitted to continue after zoning ordinance
prohibiting it has been established for the area.
nonhomogeneity:
a lack of uniformity; dissimilarity.
nonrecourse note: a loan for which the sole source of satisfaction for default is the
property that was given as collateral.
nonresident broker: a resident broker of another state also licensed in Texas but not a
Texas resident.
note:
an instrument of credit arresting to a debt and promising to pay.
novation:
substituting a new obligation for an old one or substituting new parties to an
existing obligation.
nuncupative
will: an oral will declared by the testator in his or her final illness, made
before witnesses and afterward reduced to writing.
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