A note requiring a final payment much greater than the periodic installment payment. A balloon note.

The organization conferring the designation of C.P.M. (Certified Property Manager), which is considered the most prestigious designation in the field of property management.

Banks, savings and loan associations, and other businesses which make loans to the public in the ordinary course of business, rather than individuals, or companies which may make loans to employees.

Property, the use of which is created by law, such as schools or hospitals. May also refer to corresponding private properties, such as private schools and hospitals.

Any writing having legal form and significance, such as a deed, mortgage, will, lease, etc.

Materials used for their qualities of hindering the passage or transmission of sound, cold, heat, or electricity.

Sheets of compressed vegetable pulp, such as sugarcane or cornstalks, which, because of tiny pockets of trapped air throughout its density, provides good insulation.

Concerning real property, an interest which, if terminated, destroyed, or in any other way interfered with, would cause a financial loss to the holder of the interest. May be a mortgagee, owner, lessee, etc.

Fee title (ownership) to property free of defects. There may, and usually are, liens and encumbrances.

Value of property for insurance purposes. Based on the value of the property, less indestructible parts (land) for fire insurance. For title insurance purposes, the sales price (market value) is used.

A contract under which, for a consideration, one party (the insurer) agrees to indemnify another (the insured) for a possible loss under specific conditions. May be loss of life, health, property, or property rights.

For an insured loan, the account showing the amount a lender or buyer may recover for losses suffered on the insured loan.

Temporary insurance until a more permanent policy can be written.

A mortgage insured against loss to the mortgagee in the event of default and a failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure. May be insured by F.H.A., V.A., or by independent mortgage insurance companies.

See: Intangible Property.

Property which has value but cannot be physically touched, such as a patent, the goodwill of a business, etc.

The value of intangible property or the intangible portions of tangible property.

Among other things.

Between other persons.

Between living persons. Property transferred between living persons would fall under different laws than property transferred after death or in contemplation of death.

A trust during the life of the settlor rather than upon death. See also: Testamentary Trust.