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Real Estate Terms Glossary
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Random Real Estate License Terms
Acceleration Clause
 
A clause in a promissory note deed of trust or mortgage that provides that upon default of a payment or some other stated event the entire unpaid balance becomes immediately due and payable.
   
District Court
 
The main trial court in the federal court system and the lowest federal court. It has jurisdiction in civil cases where the plaintiffs and defendants are from different states (diversity of citizenship) and the amount in controversy is over $100 and in cases involving a federal question.
   
Installment Sales Contract
 
Also known as an agreement of sale or a land contract.
   

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