Sale of a house by an owner to a real estate broker in order for the owner to purchase another house. The house is put on the market at market value. If not sold in a specified time, the broker guarantees to buy the house at a lower price.

(1) The transporting of goods in trade or business. (2) The movement of air, sea, or land vehicles, people, or animals, along a route.

The number of pedestrians or vehicles moving past a given point in a given period of time. The counts are used to determine business potential, patterns for redesigning streets, etc.

The number of vehicles moving across a portion of a road at a given time. Usually expressed as vehicles per mile of road.

Anything from a carrier used to haul small loads, boats, etc., to a complete mobile home, may be called a trailer.

A site containing two or more parking spaces for trailers (mobile homes) with minimum facilities of water, sewer, electricity, laundry and bathing facilities. The more modern are called mobile home parks and have all the conveniences of an apartment complex.

The act by which the title to property is conveyed from one person to another.

State tax on the transfer of real property. Based on purchase price or money changing hands. Check statutes for each state. Also called documentary transfer tax.

Allowing the assignment of development rights from parcel to parcel. Example: The owner of a parcel on which the zoning allows a maximum of a five story building could buy rights from another parcel and build a ten story building. The parcel transferring the rights would have to decrease its allowable height by the same number.

(1) The lowest curved portion of pipe under a sink (or other fixture using water) to catch and hold objects dropped into the drain. (2) A term used among sales agents of tract houses to describe the barriers which guide potential buyers through the sales offices on their way to and from the model homes.

A window popular in modern construction, having sashes which open horizontally, sliding on separate grooves past each other.

The middle or center line of a road or stream.

The width of a step in a staircase, being the horizontal distance between consecutive risers.

Interest bearing federal obligations with maturities of less than one year.

Interest bearing federal obligations with maturities of ten years or more. Commonly called the “Long Bond”.

One of the indices used to adjust interest rates on an adjustable rate loan. It reflects the changes in the rate for U.S. Treasury Bills.

Interest bearing federal obligations with a maturity of one to ten years.

Three times the amount of actual damages. Given when damages were caused by a deliberate or grossly negligent act of the defendant. See also: Exemplary Damages.

Legally covers a variety of wrongs against person or property. Most commonly used to describe the wrongful entry of a person onto another’s land, although encroachment of an inanimate object, such as a building or fence, is a form of trespass.

Decorative or finish materials in a building as interior moldings, and exterior moldings around doors and windows.

The vertical side members of a doorway, opening for a stairway, opening for a chimney, etc., to which a header is attached.