TRIPLE NET
See: Net Lease.
See: Net Lease.
(1) Any building containing exactly three dwelling units. (2) An apartment on three separate floors or levels.
A platform at the height of a truck bed, usually about four feet high.
A recessed platform allowing a truck to back into a building to unload.
A slope which brings the level of a truck bed to the level of a loading platform.
See: Dresser Drawer Title.
A frame to support a roof, bridge, or other span.
The height of the trusses (roof beams), as measured from the floor.
A fiduciary relationship under which one holds property (real or personal) for the benefit of another. The party creating the trust is called the settlor, the party holding the property is the trustee, and the party for whose benefit the property is held is called the beneficiary.
An account used by brokers, escrow agents, or anyone holding money in trust for another. See also: Commingling.
The writing which sets forth the terms of a trust.
See: Deed of Trust.
Any writing which creates a trust. May be a will, court order, trust agreement, or similar writing.
(1) One who is appointed, or required by law, to execute a trust. (2) One who holds title to real property under the terms of a deed of trust.
One appointed by a bankruptcy court, and in whom the property of the bankrupt vests. The trustee holds the property in trust, not for the bankrupt, but for the creditors.
A deed by a trustee under a deed of trust, issued to a purchaser at auction, pursuant to foreclosure.
A sale at auction by a trustee under a deed of trust, pursuant to foreclosure proceedings.
The borrower under a deed of trust. One who deeds his property to a trustee as security for the repayment of a loan.
Also referred to as Regulation Z. Part of the Consumer Credit Protection Act. Federal legislation designed to protect borrowers by requiring lenders to furnish information regarding the cost of the loan. The law requires interest to be expressed as the annual percentage rate (APR) to the nearest 1/8 of one percent. The APR must include charges such as loan fees, discount points, servicing fees, etc., as well as interest. The law applies to 1 to 4 family residential property only. Also applies to other consumer loans.
The finishing of joints of brick, block, or similar material, with putty or mortar. Most commonly used in chimney repair.
Referring to an owner making a property ready for a tenant to begin business by having the tenant furnish only furniture, phone, and inventory, if any. Ready to “turn the key” in the front door and begin business.
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