A roof, the exterior surface of which forms a concave angle, having the edges higher than the center.

A legal term meaning any consideration sufficient to support a contract. The word “valuable” does not mean of great value but merely having value.

The estimating of value. Appraisal.

See: Appraiser.

(1) The usefulness of an object. (2) The monetary worth of an object. (3) A shortening of the term valuable consideration, as in a purchaser “for value”.

In the case of a partial taking under eminent domain, the value of the part not taken.

The market value of a property before condemnation.

The market value of an improvement in place, as opposed to value in use.

(1) The value to a specific owner of a property or improvement. Usually much greater than market value. (2) The value of a property for a specific use. Also called Use Value.

A device, operated automatically or manually, to regulate the flow of a gas or liquid, or to prevent the return of the gas or liquid to its source.

The placing of moisture retarding material, such as paints, foil, treated paper, etc., on or in walls to prevent condensation.

A Spanish or Portuguese unit of measure of approximately 33 inches.

An interest rate which fluctuates as the prevailing rate moves up or down. In mortgages there are usually maximums as to the frequency and amount of fluctuation. Also called “flexible interest rate”.

Those expenses which vary (usually with occupancy). Example: Maintenance costs vary with the number of units occupied. Property taxes are fixed under the same conditions.

Pricing property within a price range rather than at an exact price. The ranges are published in local newspapers and each range is assigned a number. The number corresponding to a particular property is displayed on the “for sale” sign. A prospective buyer can look at the sign and know the approximate amount (the range) that the seller expects to be offered.

See: Adjustable Mortgage Loan.

Change of a portion of zoning requirements without changing the zoning.

A finish for wood which gives a transparent protective covering. Composed of resins dissolved in oil.

(1) An arched ceiling or roof. (2) A room or enclosure used for the storage of valuables.

Purchaser or buyer, especially on a land contract.

The person who transfers property by sale. Another word for “seller”. Commonly used in land contract sales.