See: Escalation Clause (2).

To alter mortgage term, payment, or rate according to inflation and/or a suitable mortgage rate index. See also: Rate Index.

See: County Mortgage.

Those costs other than labor and materials, such as administrative costs, financing costs, taxes and insurance, loss of interest on money invested, etc.

Lighting by means of reflecting the light off the ceiling, wall, or other reflector, in order to soften glare.

See: IRA.

The act of the holder of a note, bill, check, or other negotiable instrument, of assigning said instrument by signing the back of the instrument, with or without qualifications.

Bonds issued to finance industrial or commercial real estate developments.

A method of promoting property exclusively listed by a member of the American Industrial Real Estate Association (A.I.R.), by making each listing known to all members.

A subdivision in the pattern of residential subdivisions, except catering to the needs of industry. Off-site improvements may have stronger roads, heavy plumbing and wiring, wider streets for trucks, rail spurs, and other necessities for industry.

(1) Land which is zoned industrial. (2) Real property improved specifically for industrial use.

A railroad siding (spur track) which serves an industrial park or building.

An exemption from local property taxes granted to encourage industries to come into an area. Has been used successfully in the South. Usually granted for a definite period.

The expanse or increase in an economy over its natural growth. Usually caused by over printing money and over-extending credit. Marked by a rapid increase in the price of goods.

Services and facilities necessary to cities, such as streets, bridges, public transportation routes, utility generation and delivery, etc. The term can be applied in the same way to a development.

A right to enter upon and pass through land.

Conflicting surroundings. In appraising, a property not suited to its surroundings is inharmonious, and consequently less valuable than property which is better located.

In a legal meaning, real property obtained by law rather than by will; generally misused to mean anything which comes from a deceased person.

A tax on the transfer of property from a deceased person; based on the right to acquire the property rather than the property itself.

See: Start Rate.

The period before the first adjustment of an adjustable rate mortgage.