The care and work put into a building to keep it in operation and productive use; the general repair and upkeep of a building. If maintenance is deferred, the building will suffer a loss in value.

A landscaped public area set aside for pedestrian traffic.

Land which is of little value because of some deficiency, such as poor access, lack of adequate rainfall, or steep terrain.

The highest monetary price a property would bring, if offered for sale in an arm's-length transaction for a reasonable period of time in a competitive market. Also known as fair market value.

1. Title to real property that is free from liens, encumbrances, or defects aside from those which the buyer has agreed to accept (mortgage to be assumed, ground lease of record, etc.)
2. Title to real property that is established, merchantable, and without clouds.
3. Title that is without liens or encumbrances and can be sold or transferred to another.

Area of low, wet, poorly drained land

A comprehensive plan to guide the long-term physical development of a particular area based on identified objectives, strategies, and timelines for implementation. Includes plans for land use, housing, community facilities and utlities, transportation of goods and people, and energy use and conservation.
Zoning ordinances and policies are developed for different areas or zoning districts based on the master plan.

A tax term introduced by the 1986 tax act. A year-round active involvement in the operations of a company or business on a regular, continuous, and substantial basis.

Area of level land where grass is grown and usually cut for hay

An artificial line used by surveyors to measure the natural, uneven, winding property line formed by rivers, streams and other watercourses bordering a property.

A statutory lien created in favor of materialmen, contractors, laborers and mechanics to secure payment for materials supplied and services rendered in the improvement, repair or maintenance of real estate.

Definition: A document from a bank or other financial institution attesting to the credit worthiness of an individual, allowing the holder to make purchases without currency, as at a real estate or art auction. Such a memo may be required before bidding privileges are granted at such an auction, or before making an offer on an expensive parcel of real estate.

Terms, Definitions, and Concepts: Auction, Finance and Investment, Management, Real Estate

Something that is commercially valuable and desirable, and that can usually generate a profit or return on an investment (yield).

Species of trees that are commercially valuable as timber. Examples include Douglas-fir (Pseudotsuga menziesii), redwood (Sequoia sempervirens), and eastern cottonwood (Populus deltoides).

Live trees of merchantable species and sufficient size that they can be profitably harvested and sold. Merchantable timber is then milled and made into lumber and other wood products.

1. Title to real property that is free from liens, encumbrances, or defects aside from those which the buyer has agreed to accept (mortgage to be assumed, ground lease of record, etc.)
2. Title to real property that is established, marketable, and without clouds.
3. Title that is without liens or encumbrances and can be sold or transferred to another.

The true north and south line extending from an initial point in both directions. Meridians used within each state can be numeric or common names.

1. Flat topped rocky hill with steeply sloping sides 2. a small plateau

Unit of length on which the metric system of length measurement is based. One meter is equal to 1,650,763.73 wavelengths of radiation from an isotope of the element krypton. One (1) meter is equal to 3.281 feet. See also Meter (m) equivalents and conversions and the various Converting meters (m) to... entries.

One (1) meter (m) is equal to 100 centimeters (cm).
One (1) meter is equal to 0.001 kilometers (km).
One (1) meter is equal to 3.2808 feet (ft).
One (1) meter is equal to 1.0936 yards.
One (1) meter is equal to 0.00497 furlongs.
One (1) meter is equal to 0.0497 chains.
One (1) meter is equal to 39.3701 inches (in).
One (1) meter is equal to 4.97096 links.
One (1) meter is equal to 0.0006 miles.
One (1) meter is equal to 0.1988 rods, poles, or perches.
See the various Converting meters (m) to... entries for conversion examples.

Metes and bounds is an old system of measuring land and establishing boundaries. Metes refers to survey lines with specific distance measurements which can be described in varying units, such as poles, chains, rods, perches, links, etc. The direction of the line is usually based upon compass readings. Metes and bounds is an old system of measuring land and establishing boundaries.

Metes and bounds is an old system of measuring land and establishing boundaries using natural landmarks and compass readings and distance measured in poles, links, rods and chains. A common method of land description that identifies a property by specifying the shape and boundary dimensions of the parcel, using terminal points and angles.

Unit of length used primarily in the United States, but still used as an international unit as well. Formally known as a statute mile, a mile is equal to 5,280 feet or 1.6093 kilometers (km). For additional information and conversion examples, see Mile equivalents and conversions or the various Converting miles to... entries.

One (1) mile is equal to 5,280 feet.
One (1) mile is equal to 80 chains.
One (1) mile is equal to 8,000 links.
One (1) mile is equal to eight (8) furlongs.
One (1) mile is equal to 320 rods, poles, or perches.
One (1) mile is equal to 1,760 yards.
One (1) mile is equal to 63,360 inches.
One (1) mile is equal to 160,934.4 centimeters.
One (1) mile is equal to 1,609.344 meters.
One (1) mile is equal to 1.6093 kilometers.
See the various Converting miles to... entries for conversion examples.

A clause inserted in some residential leases to allow the military tenant to terminate the lease in case of transfer, discharge or other circumstances making termination appropriate