The value of a building or portion of a building to be moved from one location for use at another site. Most often occurs in condemnation, especially for highway purposes, where large areas must be cleared. See also: Scrap Value.

See: Shared Appreciation Mortgage.

See Flitch Beam.

A lease between the primary lease and the lease to the user or party in possession.

A sewer carrying waste products, as opposed to rainwater. See also: Storm Sewer.

See: Superfund Amendments and Reauthorization Act.

Wood or metal framing around a door or window opening.

A concept designed to stop urban sprawl to the suburbs. The satellite city leaves an undeveloped area between itself and a major city, rather than the gradual expansion of the major city. Satellite cities must be self-contained in order to be effective.

A tenant in a shopping center that is not a major or anchor tenant. The satellite tenant depends on the major tenant or tenants to attract people to the center.

Discharge of an obligation by payment of the amount due, as on a mortgage, trust deed, or contract: or payment of a debt awarded, such as satisfaction of a judgment. Also the recorded instrument stating said payment has been made.

The layer of ground which serves as a reservoir, feeding springs, wells and streams, rather than feeding vegetation or evaporating. Below the aeration zone.

See: Mortgage Saving Clause; Listing Saving Clause.

Originally an association chartered to hold savings and make real estate loans. Federally insured and regulated. Active in long term financing rather than construction loans. Recent changes in federal controls have enabled these associations to offer checking accounts, consumer loans, and other services traditionally offered by banks.

A series of shingle pitched roofs resembling the sharp edge of a saw. Usually used in factories and contains windows in each facing to allow maximum lighting. Not used in modern construction.

A federal agency authorized to make loans to small businesses, including loans for land purchase and construction.

Used in maps, blueprints, and other diagrams where the drawing represents a large area. Example: One inch on a road map may equal ten miles actual distance. This ratio is the scale.

Boards used in construction which are from 2″ to 6″ and 8″ or less wide.

The authority of an agent to bind a principal. An agent may bind a principal not only when the agent has actual authority, but also implied or apparent authority.

A formula used to determine the “score” (credit worthiness) of a borrower. See also: FICO SCORE.

The value of a building or part of a building based on the value of the material alone, and not its function. Example: Plumbing for the melted down value of the metal, walls for the value of the bricks, wood, etc. See also: Salvage Value.

A term used in wet plastering, meaning the first coat applied to the lath.