The linear measurement along the front of a parcel, that is, the portion facing a road, waterway, walkway, etc. that would be considered the most valuable measurement of the property.

See: Service Road.

The depth to which the soil freezes.

See: For Sale by Owner.

See: Federal Savings and Loan Insurance Corporation.

In real estate: (1) revealing all the known facts which may affect the decision of a buyer or tenant. A broker must disclose known defects in the property for sale or lease. A builder must give to a potential buyer the facts of his new development (are there adequate school facilities?; sewer facilities?; an airport nearby?; etc.). (2) A broker cannot charge a commission to buyer and seller unless both know (disclosure) and agree.

A loan of equal, regular payments which cause the principal and interest to be completely paid by the due date.

The ability of anything to perform its intended use or purpose.

A type of depreciation (loss in value) to improvements because the design and/or materials are outdated. When economically feasible to correct, it is called “curable”, when not “incurable”.

Money available for a qualified purpose, such as loan funds for F.H.A. insured loans, conventional loan funds, etc.

A linear measure, one eighth of a mile, used in horse racing.

An enclosed heating device. Modernly, a box-shaped unit containing a burner, which is fed oil or gas through a pipe. The heat from the burning gas or oil is circulated, usually with the aid of a fan, through ducts to areas to be heated.

An entry in an accounting statement, referring to those items considered depreciable, as business fixtures and furniture, rather than real property.

Narrow strips of wood or metal which are applied to walls, floors, ceilings, etc., as a means of leveling the area before applying the surface boards or laths.

A device to prevent the overloading of an electrical circuit, by containing a strip of metal which melts at relatively low heat and breaks the circuit. In modern construction, the fuse has been replaced by circuit breakers.

A metal box containing the main wiring and all electrical circuit connections, protected by fuses.

Property acquired after a loan or sale. For example: A loan agreement may state that the loan is a lien on all property presently owned or which the borrower may acquire in the future. See also: After Acquired Property; After Acquired Title.

Also called an additional advance clause. A clause in a mortgage or deed of trust which allows the borrower to borrow additional sums at a future time, secured under the same instrument and by the same real property security. Contained in an open-end mortgage or deed of trust.

A present interest, but only a future right to possession and enjoyment of the land, such as a remainder interest, reversionary interest, etc.