An inexpensive method of constructing walls by pouring concrete into forms flat on the ground, allowing to harden, then raising the forms by a crane or block and tackle to a vertical position, thereby forming the wall.

A mineral mixture which forms, generally in rock of a different composition, various size grains or modules.

An exchange of properties under section 1031 of the Internal Revenue Service Code that close (transfer) simultaneously.

(1) The taking of private property for public use. Consent of the owner is not required but fair compensation must be paid. See also: Eminent Domain. (2) Declaring property unfit, usually for violations of health and/or safety codes.

Market value paid upon condemnation.

The owner of property taken by condemnation (eminent domain).

The party taking property by condemnation (eminent domain).

The forming of water on a barrier from warm air meeting cooler air, as in air conditioning units.

A duct which carries away the water given off by condensation from an air conditioning unit.

In real property law, some limiting restriction to a grant or conveyance of property, stating that upon the happening or not happening of a stated event, the estate shall be changed in some manner.

A condition to be performed before an agreement becomes effective or some right vests or accrues.

A condition following an agreement, the happening of which changes the estate.

A loan commitment given before a borrower (buyer) is obtained, and subject to approval of the buyer by the lender.

An offer conditioned upon some event, such as the buyer being approved for a loan, an appraisal above a certain amount or a favorable termite report.

See: Land Contract.

A sale in which the title to property or goods remains with the seller until the purchaser has fulfilled the terms of the contract, usually payment in full. See also: Land Contract.

Approval by the government body that controls zoning of a use not permitted by the zoning. The procedure is less complicated than applying for a change of zoning.

A structure of two or more units, the interior space of which are individually owned; the balance of the property (both land and building) is owned in common by the owners of the individual units. The size of each unit is measured from the interior surfaces (exclusive of paint or other finishes) of the exterior walls, floors, and ceiling. The balance of the property is called the common area.

The changing of rental property (two or more units) to condominium ownership. Physical changes, as well as paperwork, may be necessary to conform to building and safety codes.

A recorded map showing the condominium units and common area. The map includes both horizontal and vertical measurements of the units. It is important that the map agree with the declaration of restrictions (recorded at the same time).

See: Home Owner’s Association(2).