In a multi phase condominium or planned unit development project there may be homeowners’ associations that are concerned with specific areas of the project. The Master Association oversees these associations and handles matters affecting the entire project.

See: Fictitious Instrument.

A lease controlling subsequent leases. May cover more property than subsequent leases. For example: “A” leases an office building, containing ten offices, to “B”. “B” subsequently leases the ten offices individually. The ten leases from “B” as lessor are controlled by the lease from “A” to “B” (master lease).

A zoning plan for an entire governmental subdivision, such as a city. A comprehensive plan to allow a city to grow in an orderly and sound manner, both economically and ecologically.

An insurance policy to a lender covering property in more than one location. If more than one state is involved, underlying policies may be issued to meet state requirements.

See: Tongue and Grove.

A fact upon which an agreement is based, and without which, said agreement would not be made.

One who supplies construction materials. See also: Mechanic’s Lien.

(1) Termination period of a note. For example: A 30 year mortgage has a maturity of 30 years. (2) In sales law, the date a note becomes due.

A middle point between two extremes; or an average, having an intermediate value between two extremes or between several successive values of variable quantity, such as mean low tide and mean high tide.

The point on the shore which the average high tide will reach.

The point on the shore which the average low tide will reach.

To follow a winding or flexuous course, usually referring to a river or stream.

Lines run in surveying lands which border navigable rivers to determine the sinuosities of the river.

See: Mechanic’s Lien.

A lien created by statute for the purpose of securing priority of payment for the price or value of work performed and materials furnished in construction or repair of improvements to land, and which attaches to the land as well as the improvements.

A bond, from a bonding company, indemnifying a title insurer against loss from writing a policy before expiration of the mechanic’s lien period.

A divider, being a strip of land rather than a fence or barrier, between oncoming lanes of a roadway.

A legal term meaning the mutual agreement necessary to form a contract. It is not based on what may actually be in the minds of the parties, but rather based on whether the acts of the parties and circumstances of the contract indicate that the parties agree.

To combine two or more entities, so that one survives, the other or others becoming part of the surviving entity, and losing their identity.