An easement for the benefit of a person or company, rather than for the benefit of another parcel of land. Commonly, such easements as for public utilities.

An easement granted by a court when it is determined that said easement is absolutely necessary for the use and enjoyment of the land. Commonly given to landlocked parcels.

See: Low Doc Loans.

See: Exchange Accommodation Titleholder.

The tide at its low, or the period from high to low.

See: Age-Life Method of Depreciation.

See: Economic Obsolescence.

Part of the U.S. Department of Commerce. The EDA manages grant and loan programs aid economically depressed areas.

The “profitable” life of an improvement. Generally shorter than the physical life (before it is worn out).

A loss in value to property (depreciation) caused by a negative influence near the property. Concerned with location rather than physical characteristics of the property. Also called External Obsolescence; Environmental Obsolescence.

Laws designed to stimulate the economy, including stimulation of the real estate market. See: Accelerated Cost Recovery System.

The market rental value of a property at any given time, even though the actual rent may be different.

The study of the laws and theories pertaining to the creation and distribution of wealth, either of the private sector or of governments.

See: Economic Development Administration.

An FHA program that helps homebuyers save money on utility bills by enabling them to finance the cost of adding energy efficiency features to a new or existing home as part of the home purchase.

Age of a structure as estimated by its condition rather than actual age. Takes into account rehabilitation and maintenance.

A qualifying term meaning the ability to pay as well as desire to buy.

See: Adjusted Gross Income.

An apartment consisting of one room, sectioned into areas for a kitchen, bedroom, etc.

(1) The flowing of a branch of a stream out from the main stream. (2) The flow of sewage, either from a storm sewer or sanitary sewer, after some stage of treatment.