Management

1. (n.) Timber or logs that have been sawed, split, or planed into wood used to frame or build structures. 2. (n.) Discarded or unused articles or other chattels such as furniture that have been stored. 3. (v.) To harvest or remove timber and convert it into building materials.

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.

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.

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 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.

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.

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.

Type of land tenure (feudal tenure) requiring the title holder (the tenant) to furnish soldiers or knights to the tenant-in-chief in return for the right to own the land. Tenants in chief with military tenure provided military services directly to the king or other sovereign.

Of or having to do with money or currency; financial.

A compilation or database of real estate listings administered by the National Association of Realtors (NAR); an association of real estate brokers, agents, and salespeople who share real estate listings in order to generate additional advertising of and exposure for their exclusive listings. There are separate multiple listing services for different geographic areas; the area included in an MLS can vary from a city to a several-state region.

Definition: A federal agency of the United States created in 1935 (as the Soil conservation Service or SCS) to assist private landowners and managers with conservation and protection of soil, water, and other natural resources. The NRCS provides information and consultation services, as well as financial assistance for conservation projects and programs.

Terms, Definitions, and Concepts: Agriculture, Conservation and Sustainability, Forestry, Hydrology, Management, Science, Water

A watercourse that is deep and wide enough to accept commercial vessel (boat) traffic. Also known as a navigable waterway.

A watercourse that is deep and wide enough to accept commercial vessel (boat) traffic. Also known as a navigable river.

1. The income or revenue (monetary or non-monetary) earned by an individual or business after the deduction of expenses such as taxes, insurance, losses, etc. Contrast with gross income.
2. The revenue a business or property will earn in a given year's operation, according to the following simplified formula: Net income = Gross income - Expenses

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay all or a portion of the property expenses in addition to periodic rent. It is called a net lease because the rent paid is "net" to the lessor.
Abbreviated as "N lease".

The amount of money remaining after deducting operating expenses from gross income.
Used to calculate the cap rate of an income property.

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay property taxes and insurance in addition to periodic rent, and the landlord (lessor) agrees to pay for property maintenance.
Also known as a double net lease.
Abbreviated as "NN lease".