A corporation which is sold instead of its product, in order to create a capital gain rather than ordinary income for tax purposes. For example: A and B (persons) are real estate developers who want to build an office building to sell. They form a corporation which builds the building. Then, rather than selling the building, A and B sell the corporation, claiming capital gain on the stock profit. Federal tax laws regulate such transactions.

See: Tie Beam.

By or at the side, additional or auxiliary. Mistakenly used to mean collateral security.

An assignment of property as collateral security, and not with the intent to transfer ownership from assignor to assignee.

One not in a direct line of descent of inheritance. Example: A nephew, not a son.

A promissory note secured by specific property.

Most commonly used to mean some security in addition to the personal obligation of the borrower.

A mortgage-backed security. CMOs are similar to mortgage-backed securities except that CMOs offer the option of short or long maturity. The future cash flows from a group of mortgages are split into varying length classes to satisfy the needs of investors who seek different maturity lengths. (See: Mortgage-Backed Securities).

An agreement of two or more people to do something unlawful. Generally, an agreement between people who represent different interests and “sell out” these interests for personal gain.

Two story houses with windows divided into small panes, usually with shutters. The main facade is detailed and symmetrical, generally with a center entrance. Architecture following the style of New England colonial houses.

Columns, regularly spaced, which support an architrave. See also: Peristyle; Portico.

That which gives the appearance of good title, but actually contains some defect. For example: A conveyance given without the grantor having good title.

A large vertical support member of a structure. A pillar, usually cylindrical.

The support bases for load-bearing columns. Generally composed of reinforced concrete.

Small lots for the placement of columns to support a structure, such as a billboard or other structure which has its largest parts not touching the ground.

Steel used inside a column for reinforcement.

An interior paneling, grooved as if by a comb.

Under this arrangement, the borrower receives a lump sum. This is most commonly used to pay off an existing mortgage, make repairs on the property, or pay consumer debt. The balance of the loan is made in periodic (monthly) payments. See also: Reverse Mortgage.

An outer door using interchangeable panels of glass and screen, depending on the weather.

A sewer that is both a sanitary and storm sewer.

A window using interchangeable panels of glass and screen, depending on the weather.