A company such as the telephone company, electric company, or gas company, which supplies a necessity in our modern life.

See: Planned Unit Development.

One hired to make false bids at an auction in order to raise the price of the property being sold.

An opinion not made as a representation of fact, but intended to enhance the value of the property.

See Exemplary Damages.

For (during) the life of another. A life estate measured not by the life of the grantee, but by the life of another person. The life of a famous person is commonly used, such as a young member of a royal family known for its longevity.

An agreement between a buyer and seller of real property, setting forth the price and terms of the sale.

See: Sale-Leaseback.

See: Purchase Agreement.

A bond having a purchase money mortgage as security.

(1) A mortgage given from buyer to seller to secure all or a portion of the purchase price. (2) Any mortgage from which the funds are used to purchase the property.

See: Purchase Money Mortgage.

See: Purchase Agreement.

See: Owner’s Policy.

A horizontal supporting beam of a roof frame, parallel to the ridge line and placed under the rafters.

A soft clay-like mixture used as a filler for cracks, joints, and to install window panes.

(1)A monumental mass which flanks an entrance, such as pillars at a gateway. (2) A tower, such as the steel towers which support high tension wires.

A roof resembling a pyramid; having four sloping sides, either forming a point, as a church steeple, or running at a lesser angle to a horizontal ridge, as is common on free standing garages.

Including more restrictive uses in less restrictive uses. Examples: Residential use (more restrictive) would be allowed in an area zoned commercial (less restrictive); commercial (more restrictive) would be allowed in an area zoned industrial (less restrictive).