A salable asset of a business, based on its reputation rather than its physical assets.

A small parcel of land, usually triangular in shape, resulting from the failure of a legal description to join 2 tracts. (Also called: Hiatus).

Irregularly shaped parcels of land, usually fronting on water, which could not practically be divided into sections under government survey.

See: GNMA.

The survey from which our present system of townships, sections, etc., was developed.

See: Graduated Payment Mortgage.

A period of time past the due date for a payment (mortgage, insurance, etc.) during which time a payment may be made and not considered delinquent.

The degree of the slope of land.

A structure, such as a cloverleaf of a highway, enabling roads to intersect one over the other, obviating the need for a traffic light or stop sign.

See: Step-Up Lease.

A property tax designed to promote local development by increasing the tax rate on land and decreasing it on improvements.

The degree of the slope of land.

A lease calling for a varying rental, usually based on periodic appraisal or simply the passage of time.

A combination of a graduated payment mortgage and an adjustable mortgage. Monthly payments begin at less than the amount necessary to amortize the loan and increase over a maximum 10 year period. The payment increase is not predetermined but varies as the interest rate is adjusted based on the movement of a agreed upon index.

A mortgage or deed or trust calling for increasingly higher payments over the term of the loan. This allows the buyer low beginning payments. The payments then increase as (theoretically) the buyer’s earnings increase. See also:G.E.M.

(1) The direction, size and arrangement of the fibers of wood, leather, etc. (2) Seeds from cereal plants, such as wheat, oats, corn, etc. (3) A small particle, such as a grain of sand. (4) A unit of weight equal to 1/7000th of a pound.

(1) A structure for the processing and storage of grain. (2) Modern farm machinery used for loading and unloading grain.

The term used for the tax roll or assessment list in the New England states.

The clause in a law permitting the continuation of a use, business, etc., which, when established, was permissible but, because of a change in the law, is now not permissible. See also: Nonconforming Use.

To transfer an interest in real property; either the fee or a lesser interest, such as an easement.