The most permanent parts of a structure, such as the foundation or bearing walls, as opposed to hot water heaters, roofs, etc.

The East-West circle around the Earth, measured in relation to the meridian or latitude (North-South circle). It is measured from the Greenwich Meridian.

Pertaining to the length of anything which is measured.

Any of several methods to help a borrower avoid foreclosure, such as Special Forbearance, partial Claim and Modification.

Taking away the right of an owner of property abutting a public road, to come and go to and from said road and his pro- perty. Usually happens in condemnation when the abutting road becomes a limited access highway.

A clause in a fire insurance policy, listing the priority of claims in the event of destruction of the property insured. Generally, a mortgagee or beneficiary under a deed of trust is the party appearing in the clause, being paid to the amount owing under the mortgage or deed of trust before the owner is paid.

Generally, any portion or parcel of real property. Usually refers to a portion of a subdivision.

See: Recorded Map.

See: Plat Book.

The boundary line of a lot in a subdivision.

A legal description which refers to the recorded subdivision map. See: Parcel Map.

Affixed or adjustable formation of slats in a wall, ceiling, door, etc., to let in light and air, allow ventilation of fumes from within, yet keep out rain.

Loosely called consideration. However, only valid where a valuable consideration is not required, such as a gift. Most contracts to be binding require “valuable consideration”.

Loans requiring less documentation than is usually required from the borrower. For example: The borrower would provide a statement of income but not be required to provide tax returns to prove said income. These loans are sometimes call “no qualifying loans”.

Line on the shore marking the lowest ebb of the tide.

A general classification of wood after it passes from the sawmill.

A ceiling emitting light from its entire surface, through the use of fluorescent light above translucent glass or plastic.

Under this type reverse mortgage, the borrower receives a lump sum which is repaid when the borrower sells the property or dies. The proceeds are used to make home repairs, pay off an existing mortgage, or pay off consumer debt. Since the reverse mortgage requires no periodic payments, the borrower’s monthly expenses can be reduced. See also: Reverse Mortgage.