A permit given by the appropriate government authority for a use not ordinarily permitted by zoning laws.

An instrument used to convey title under which the grantor accepts liability for defects in title only during the time the grantor owned the property. It is not necessary if title insurance is purchased and is not used in many states.

An action to compel the performance of a contract, when money damages for breach would not be satisfactory.

Written, detailed, drawings which show a contractor how to proceed with construction, whether in new construction or remodeling.

A building constructed for sale but without having a buyer before construction begins.

Land purchased for resale rather than for use.

One who buys property, not for his use, but with only the intent to sell at a profit.

Net income after taxes.

A trust created to give an income to the beneficiary while protecting the principal from the beneficiary and creditors of the beneficiary. The beneficiary may, therefore, not be able to sell or encumber the trust property.

A fence built for the purpose of causing a problem for one’s neighbor. May ruin the view, make access of a vehicle difficult, etc., or simply be ugly.

A house with different levels, none of which is a complete story higher than another.

Capitalization rate applied separately to land and improvements, to determine the value of each.

A method of zoning which places a parcel or parcels of land under a different zoning than the surrounding area. Also used to describe zoning without a master plan.

One’s husband or wife.

A dam built in such a way as to divert water to either side, thus causing the water to spread over a given area.

(1) When used in reference to residential property, a system of pipes under a lawn, used for watering the grass. (2) In commercial or industrial property, a system of pipes and valves in the ceiling, sensitive to ambient temperatures, which automatically sprinkles water or a chemical in case of fire.

A segment of railroad track, connected at only one end to a main track, which services an industrial building or buildings.

A unit of measurement in roofing or siding, 10′ X 10′ (100 sq. ft.)

The area contained by boundaries of 1 foot long and 1 foot wide. There are 9 square feet in 1 square yard.

The cost of a square foot of floor space of a building or of land.

Determining the replacement cost of a building by finding the cost per square foot of comparable buildings and multiplying by the number of square feet of the subject property.