A cubic measure of one acre in area with a depth of one inch.

Most commonly refers to vacant land, but may refer to any parcel which may be measured in acres. The term is also used to describe land which has not been subdivided.

Federal control setting the number of acres which may be planted with crops which have federal price supports.

Damage caused by nature (floods, winds, etc.) rather than by people.

Modernly used to describe any court action to establish ownership or remove a cloud on title. See also: Cloud on Titlel.

Capital used on a regular basis for profit-making activities.

The chronological age of a structure as opposed to its effective or economic age.

See: Market Value.

The removal of an occupant or real property through legal action. See also: Constructive Eviction

Notice actually and expressly, or by implication, given and received. See also: Constructive Notice; Statutory Notice.

Direct receipt of funds from the sale of a relinquished property in a 1031 exchange. The taxpayer will lose the tax free benefit if the funds are received rather than directly reinvested in the replacement property.

By, for, relating to, concerning.

Latin meaning “for this”. For a single purpose only.

For the suit. Example: A guardian “Ad Litum” is one who is appointed to prosecute or defend a suit on behalf of a minor or one who is otherwise incapacitated.

“According to value”. A method of taxation using the value of the thing taxed to determine the amount of tax. Taxes can be either “Ad Valorem” or “Specific”. Example: A tax of $5.00 per $1000.00 of value per house is “Ad Valorem”. A tax of $5.00 per house (irrespective of value) is “Specific”.

A method of computing interest by adding the total interest for the life of the loan to the amount borrowed (principal) and then deducting the full amount of each payment as made. This method creates a higher yield than computing interest on the declining balance of principal.

Something added. A list or other material added to a document, letter, contractual agreement, escrow instructions, etc. See also: Amendment.

(1) A portion of a building added to the original structure. (2) A synonym for subdivision in certain legal descriptions.

A buyer of real property will generally give a small deposit with an offer, and a more substantial deposit after the offer has been accepted. The second deposit is the “additional deposit”.

A payment of principal above the required amount. Some loans limit the amount that a borrower may pay and impose a penalty for reducing the principal balance in too short a time.

Close to. May or may not be contiguous (touching).