See: Base Property.

See: Net Acre.

An institution for savings, loans, checking accounts, and other services not all of which are found in savings and loan institutions. Banks are generally more active in construction loans rather than long term real estate financing

A licensed real estate broker specializing in improved commercial property or offices.

An affiliate of the NATIONAL ASSOCIATION OF REALTORS which strives to improve the level of competency of those engaged in Commercial-Investment real estate, and which confers the designation of Certified Commercial Investment Member (CCIM).

Negotiable instruments used in the course of business, such as promissory notes, which are bought and sold (usually at a discount).

Property which is zoned “commercial” (for business use). Property such as stores, restaurants, etc., falling between residential and industrial.

To mix funds held in trust with other funds. For example: A broker or builder mixes deposits (should be in a trust account) with his funds by putting the deposits in his general account. Although commingling is in itself a violation for which a broker may lose his license, it does not mean that, by commingling, the broker or builder intended to misappropriate the funds. See also: Conversion (2).

An amount, usually as a percentage, paid to an agent (real estate broker) as compensation for his services. The amount to a real estate broker is generally a percentage of the sale price or total rental.

See: Point (2).

A fee paid for a loan commitment. See: Commit-ment (2).

See: Commitment (2).

The area owned in common by the owners of condominiums or planned unit development homes in a subdivision.

The levies (assessments) charged to owners of condominiums or planned unit developments for the cost of common area maintenance and home owner association costs.

A brick having no special surface treatment, making each brick different in color. Used to describe a surface of bricks which are artificially treated so that each is different in color.

See: Common Area.

A general term used to describe any type of clustered buildings with shared land ownership, such as condominiums and planned developments. CID’s, as they are called, must have individual ownership or exclusive right to occupy, combined with shared ownership.

The body of laws, originated and developed in England, which was adopted by most states and still prevails if not superseded by statute. Also referred to as case law.

Any mortgage which contains the elements of a mortgage according to the Common Law.

See: Estovers.