Money owed to a business for goods or services. Accounts receivable may be sold or borrowed against. Many times the sale of accounts receivable is for less than face value (discounted).

A designation conferred by the REALTORS Land Institute. See: REALTORS LAND INSTITUTE.

The gradual addition to the shore or bank of a waterway. The land generally becomes the property of the owner of the shore or bank, except where statutes specify otherwise.

An accounting method under which income and expenses are charged to the periods for which they are applicable, rather than when payment is received or made. The method calling for income and expenses to be based on payment being received or made is cash accounting.

To grow or mature.

Accumulated depreciation. See: Depreciation.

Interest on a note, bond, etc. which has been earned but not yet paid. Since interest is usually paid in arrears, accrued interest does not necessarily indicate a delinquency in payment. See also: Accumulated Interest.

Expenses owing but not yet payable. An example is mortgage interest which is paid at the end of the month or property taxes which may be paid after the tax year begins. On a closing statement for a sale, the buyer would be credited with these amounts and would be responsible for their payment.

See: Accrued Depreciation.

Unpaid interest which is past due. See also: Accrued Interest.

A soil with an acid rather than an alkaline base. This can determine its suitability for farming.

A formula used by lending institutions to determine if a business can meet its current obligations. The formula adds cash plus receivables plus marketable securities and then divides by liabilities. A ratio of one to one is considered acceptable.

A written declaration by a person executing an instrument, given before an officer authorized to give an oath (usually a notary public), stating that the execution is of his own volition.

(See which)

Materials which absorb sound. Usually installed in walls and ceilings and composed of fiberglass, cork, special plaster, or similar materials.

Tile which absorbs sound.

A loan for the dual purpose of purchasing and improving or repairing property.

An appraisal to determine market value of a property to be taken by eminent domain, in order to justly compensate the owner.

Costs of acquiring property other than purchase price: escrow fees, title insurance, lenders fees, etc.

A measure, usually of land, equal to 160 sq. rods (43,560 sq. ft.) in any shape.

A volume of water, sand, coal, etc., equal to an area of one acre with a depth of one foot (43,560 cubic ft.). If a liquid, 325,850 gallons.