Archives: Glossary

WASTELINE

A line carrying waste from any kitchen or bathroom fixture except a toilet.

WASTING ASSETS

Assets which, by use or lapse of time, are consumed or reduced in book value, irrespective of market fluctuation. Includes oil, minerals, patent rights, franchises for a fixed term, etc. Also called “diminishing assets”; “wasting property”.

WATER LEVEL

The surface height of a body of water as measured by a point on the shore. See also: Water Mark.

WATER MARK

A mark on the shore indicating the highest point to which a body of water will normally rise (high-water mark) and also the lowest point (low-water mark) to which it will recede.

WATER POWER

The power created by the fall of a stream across one’s land, the riparian owner being entitled to its utilization.

WATER REPELLANT

A chemical compound, in liquid form, which penetrates wood or other materials and prevents absorption of moisture or water into said materials.

WATER RIGHTS

Any right to the use and/or control of water, whether for irrigation, hydro electric power, personal use, etc. (See: Riparian Rights).

WATER TABLE

(1) The depth, measured from the surface, at which natural underground waters are found. (2) A ledge to aid the run-off of rainwater, built at or above the top of the foundation wall.

WATER-HOLDING CAPACITY

The amount of water a given type and amount of soil will absorb and hold under normal conditions. The capacity is expressed as a percentage of the soil’s own weight when dry.

WATERFRONT

Property (improved or unimproved) fronting on a body of water. More loosely, a neighborhood near a large body of water which has a commercial port.

WATERPROOF

Capable of withstanding absorption of water; treating a material to give it this capability.

WATERSHED

An area formed by natural barriers, such as a mountain range, which separate two river systems. The term may be used to describe the drainage area or the barrier.

WATT

A unit of electrical power equal to the flow of one ampere caused by the pressure of one volt.

WATT-HOUR

The basis used to determine electric bills. Example: A 100 watt light bulb means if the bulb burns for one hour, it will use 100 watts of electricity.

WCR

See: Women’s Council Of Realtors.

WEAR AND TEAR

The deterioration or loss in value caused by the normal and reasonable use of the property. In leases, the tenant is not usually responsible for “normal wear and tear”.

WEATHERING

(1) Commonly, the deterioration of the exterior of a structure caused by exposure to weather. (2) A step in the refining of gasoline.

WEATHERSTRIPS

Strips of felt, metal, etc., installed between a door or window and its casing, to keep out wind, moisture, dust, or other elements of the weather.

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