See: Plat.

A hard, single or multicolored limestone. In construction, used in place of tile in more expensive structures.

In an adjustable rate loan, the difference between the index rate and the interest rate of the loan. Example: The borrower’s interest rate is 2 points (percent) over the prime rate. The 2 points is called the margin.

See: Equity (2).

An investment not considered strong. One which barely supports itself.

(1) Any income producing land which barely covers expenses. (2) Land which is clearly not the best for an intended purpose, but may be adequate.

A small harbor or basin, having docks, supplies, and maintenance services for boats.

An “X” or other symbol used by one who cannot write his or her name. Modernly not used often and laws as to the validity of using a mark should be checked.

Appraising the value of a property by comparing the price of similar properties (comparables) recently sold. The degree of similarity (physical characteristics and locations) of the properties and the circumstances of the sale (time and terms) are the important considerations.

The price a property brings in a given market. Commonly used interchangeably with market value, although not truly the same. See also: Market Value.

See: Economic Rent.

The highest price a willing buyer would pay and a willing seller accept, both being fully informed, and the property exposed for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time.

See: Market Data Approach.

Salability. The probability of selling property at a specific time, price and terms.

Title which can be readily marketed (sold) to a reasonably prudent purchaser aware of the facts and their legal meaning concerning liens and encumbrances.

A canopy-like projection over the entrance to a building, but not supported by posts or columns. Most commonly found on theaters and hotels.

A grassy area of ground which is always soft and wet. Usually distinguished from a swamp by the absence of trees in the marsh.

Anything constructed of the materials used by a mason, such as brick, stone, cement, adobe, etc; anything constructed by a mason of these materials.

A wall, constructed by a mason, of stone, brick, cement, or similar materials.

Appraising a whole district or area at the same time, in order to adjust property taxes.

An unincorporated association, not a partnership, doing business through a trustee. The name comes from authorization of such a trust under the laws of the state of Massachusetts.