Method for scoring trophy game animals according to the Boone and Crockett Club, which maintains records of and provides guidelines for the scoring of bear; cougar and jaguar; walrus; typical and atypical (non-typical) American elk; Roosevelt's and Tule elk; typical and atypical blacktail, whitetail, and mule deer; moose; caribou; pronghorn; bison; muskox; Rocky Mountain goat; and sheep.

Hunting and conservation organization founded at the turn of the 20th century by Theodore Roosevelt, Gifford Pinchot (first chief of the U.S. Forest Service), and other early American conservationists to promote the causes of responsible wildland and wildlife management, as well as a common-sense approach to conservation of vital natural resources.

Definition: A broker's price opinion, or BPO, is a real estate valuation performed by a local, licensed real estate broker or salesperson. A BPO is used in situations where a formal appraisal is not required. It usually is based on such information as an exterior examination, estimates of necessary repairs, tax records, recent comparable home or business sales, property sale history, and current comparable listings. Similar to a Drive-by appraisal.


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

An area of land, usually open space, intended to mitigate land use effects and serve as a physical separation, transition, or screen between adjacent zoning districts. The most common examples include parks, greenways, or retention ponds between residential, commercial, or industrial zoning districts.

Definition: The completion of construction of a shell lease building according to the terms agreed upon by the landlord (lessor) and the tenant (lessee). Like many real estate terms, the definition, description, and details of a "build-out" are relative to the location and situation. For example, one shell lease may include tenant improvements (TI's) in the build-out description; a different shell lease may not.


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

Zoning ordinances meant to regulate density and discourage overcrowding by restricting building heights or new construction, increasing setbacks, and mandating certain percentages of open space.

The ownership of property; allows one to buy, sell, or encumber real property or personal property. Also referred to as the bundle of rights; includes the rights of possession, control, enjoyment, exclusion, and disposition.

The ownership of property; allows one to buy, sell, or encumber real property or personal property. Also referred to as the bundle of legal rights; includes the rights of possession, control, enjoyment, exclusion, and disposition.

The percentage return on an investment before mortgage payments and income taxes. Cap Rate Formula: Net Operating Income (NOI) / Market Value x 100.

Latin for "buyer beware". This phrase means that the buyer is responsible for verifying any and all claims by the seller; a prospective vendee of real property should observe and practice due diligence.

A unit of length used in the metric system that is equal to 1/100 (0.01) meters. One (1) centimeter (cm) is equal to 0.3937 inches (in). For more information, see Centimeter equivalents and conversions or the various Converting centimeters to ... entries.

One (1) centimeter (cm) is equal to 0.3937 inches (in).
One (1) centimeter is equal to 0.01 meters (m).
One (1) centimeter is equal to 0.00001 kilometers (km).
One (1) centimeter is equal to 0.0328 feet.
One (1) centimeter is equal to 0.0497 links.
One (1) centimeter is equal to 0.0109 yards.
One (1) centimeter is equal to 0.002 rods, poles, or perches.
One (1) centimeter is equal to 0.0005 chains.
One (1) centimeter is equal to 0.00005 furlongs.
One (1) centimeter is equal to 0.000006 miles.
See the various Converting centimeters to... entries for conversion examples.

Definition: A document issued by a government department overseeing construction and building safety stating that a structure complies with local building codes and is safe for use and habitation.

Terms, Definitions, and Concepts: Construction and Building, Management, Real Estate, Zoning

A usually metal chain used to measure length and distance. Less commonly used in land surveys than a Gunter's or surveyor's chain, the engineer's or Ramsden's chain is 100 feet in length, with 100 1-foot links. The terms "engineer's chain" and "Ramsden's chain" apply primarily to the measuring utensil itself and not to any particular unit of length.

A common forestry and land survey term that is equivalent to 66 linear feet. Often referred to as simply "chain", this term is more formally known as the surveyor's or Gunter's chain. A chain is broken into 100 equal parts, or links. One (1) mile is equal to 80 chains. A one (1) mile square piece of land (one section or 640 acres) is 80 chains on each side. Although an engineer's or Ramsden's chain is also used to measure length in surveys, the generic term "chain" when used in reference to land measurements refers to the unit of length (66 feet) represented by the Gunter's or surveyor's chain. For more chain conversions, equivalents, and examples, see Chain equivalents and conversions or the various Converting chains to... examples.

A chain is broken into 100 equal parts, or links. A one (1) mile square piece of land (one (1) section or 640 acres) is 80 chains on each side.
One (1) chain is equal to 66 feet.
One (1) chain is equal to four (4) rods, poles, or perches.
One (1) chain is equal to 100 links.
One (1) chain is equal to 22 yards.
One (1) chain is equal to 20.12 meters.
One (1) chain is equal to 0.0125 miles.
One (1) chain is equal to 0.0201 kilometers (km).
One (1) chain is equal to 0.1 furlongs.
One (1) chain is equal to 792 inches.
One (1) chain is equal to 2,011.684 centimeters (cm).
See the various Converting chains to... entries for conversion examples.

All property other than real property. Chattels are distinct from real property in that they are moveable (not attached or affixed). Exceptions are made for trade fixtures or furniture, fixtures, and equipment (FFE), which can be attached, but are still considered chattels. Also known as personalty or personal property, chattels can be tangible (things or objects owned) or intangible (rights and relationships that are included in ownership). Tangible chattels include all objects that one owns, such as vehicles, clothing, houseplants, small appliances, etc. Examples of intangible chattels include patents, copyrights, royalties, and community property relationships. Transfer of chattels is done through a bill of sale, a will, intestate succession, or by court order (judgment).

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.

An area where livestock owners are required to fence their animals in. Also known as fence-in jurisdiction.

1. Any document, actual or apparent claim, unreleased lien, or encumbrance which may impair, injure, or otherwise adversely affect the title to real property.
2. A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

Definition:
1. One form of a shell lease, a cold dark shell is a commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, elevators, or interior walls. A cold dark shell is ready for warm shell improvements or vanilla shell improvements (VSI) as well as tenant improvements (TI's), which are to be completed by the tenant once the lease agreement has been negotiated and executed. In many cases, the landlord will offer financial incentives in the form of a tenant improvement allowance (TIA), which pays for or at least partially defrays the cost of any improvements necessary for the tenant to occupy the building itself. Tenant improvement allowances do not usually include furniture, fixtures, and equipment (FFE) or trade fixtures necessary for the tenant to conduct business. Usually vanilla shell improvements (VSI), or those improvements necessary to upgrade the building from a cold shell or base shell state, are not completed until the lease agreement between the tenant and landlord has been negotiated and executed. This ensures that the landlord does not pay for improvements that are unnecessary or that the tenant does not want.

2. The lease agreement or contract for a cold shell building. A proper cold shell lease should describe in detail the vanilla shell improvements (VSI) and tenant improvements (TI's) that are to be completed, and any other information necessary for construction of the building to be completed (commonly known as build-out) prior to tenant occupancy.

Same as Cold dark box. More or less the same as Arctic shell, Bare shell, Base shell, Cold shell, Dark shell, Dark box, Grey shell, or Grey box.


Discussion: Like many real estate terms and phrases, practical use and meanings of those terms associated with shell leases (e.g., vanilla shell, base shell, cold shell, warm shell, etc.) differ by location and situation, sometimes even within the same region or municipal area. As they say, the devil is in the details. The lease or sales contract should clearly and exactly specify the degree to which construction of any sort of "shell" or "box" building has been or will be completed prior to tenant occupancy. As either a tenant or landlord, you should not assume that the other party's definitions of shell lease terminology are the same as yours. Get it in writing, and make sure you understand and agree with all the terms and conditions of the shell lease agreement before you sign. If necessary, have a real estate attorney review the contract prior to its execution.

Shell leasing and its various forms (warm, cold, base, etc.) are used primarily in commercial real estate, but are gaining popularity in upscale condominiums and townhouses and other high-end residential real estate transactions. The idea is to attract either tenants or buyers, or both, by offering customizable living units. Financial incentives in the form of tenant (or buyer) improvement allowances afford new residents the opportunity to select nearly all aspects of interior decor, including relatively large projects such as plumbing and fixtures, wiring, and interior walls.


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

Definition:
1. One form of a shell lease, a cold lit shell is a commercial or residential building with a minimally finished interior, usually with ceilings, lighting, plumbing, interior walls (painted or unpainted), electrical outlets, elevators, rest rooms, and a concrete floor. It is essentially the same as a vanilla shell or warm lit shell building, but without a heating and cooling (HVAC) system. A cold lit shell is considered ready to lease and ready for tenant improvements (TI's), including the installation of the HVAC system. In many cases, the landlord will offer financial incentives in the form of a tenant improvement allowance (TIA), which pays for or at least partially defrays the cost of any improvements necessary for the tenant to occupy the building itself. Tenant improvement allowances do not usually include furniture, fixtures, and equipment (FFE) or trade fixtures necessary for the tenant to conduct business. Usually tenant improvements and vanilla shell improvements (VSI), or those improvements necessary to upgrade the building from a cold shell or base shell state, are not completed until the lease agreement between the tenant and landlord has been negotiated and executed. This ensures that the landlord does not pay for improvements that are unnecessary or that the tenant does not want.

2. The lease agreement or contract for a cold lit shell building. A proper cold lit shell lease should describe in detail the tenant improvements (TI's) that are to be completed, and any other information necessary for construction of the building to be completed (commonly known as build-out) prior to tenant occupancy.

Also known as a Cold lit box.
More or less the same as Cold vanilla shell, Cold vanilla box, Cold white box, or Cold white shell.


Discussion: Like many real estate terms and phrases, those associated with shell leases (e.g., vanilla shell, base shell, cold shell, warm shell, etc.) differ by location and situation, sometimes even within the same region or municipal area. As they say, the devil is in the details. The lease or sales contract should clearly and exactly specify the degree to which construction of any sort of "shell" building has been or will be completed prior to tenant occupancy.

Shell leasing and its various forms (warm, cold, base) are used primarily in commercial real estate, but are gaining popularity in upscale condominiums and townhouses and other high-end residential real estate transactions. The idea is to attract either tenants or buyers, or both, by offering customizable living units. Financial incentives in the form of tenant (or buyer) improvement allowances afford new residents the opportunity to select nearly all aspects of interior decor, including relatively large projects such as plumbing and fixtures, wiring, and interior walls.


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

Definition:
1. One form of a shell lease, a cold shell is a commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, elevators, or interior walls. A cold shell is ready for warm shell or vanilla shell improvements (VSI) as well as tenant improvements (TI's), which are to be completed by the tenant once the lease agreement has been negotiated and executed. In many cases, the landlord will offer financial incentives in the form of a tenant improvement allowance (TIA), which pays for or at least partially defrays the cost of any improvements necessary for the tenant to occupy the building itself. Tenant improvement allowances do not usually include furniture, fixtures, and equipment (FFE) or trade fixtures necessary for the tenant to conduct business. Usually vanilla shell improvements (VSI), or those improvements necessary to upgrade the building from a cold shell or base shell state, are not completed until the lease agreement between the tenant and landlord has been negotiated and executed. This ensures that the landlord does not pay for improvements that are unnecessary or that the tenant does not want.

2. The lease agreement or contract for a cold shell building. A proper cold shell lease should describe in detail the vanilla shell improvements (VSI) and tenant improvements (TI's) that are to be completed, and any other information necessary for construction of the building to be completed (commonly known as build-out) prior to tenant occupancy.

More or less the same as Arctic shell, Bare shell, Base shell, Cold dark shell, Cold dark box, Dark shell, Dark box, Grey shell, or Grey box.


Discussion: Like many real estate terms and phrases, practical use and meanings of those terms associated with shell leases (e.g., vanilla shell, base shell, cold shell, warm shell, etc.) differ by location and situation, sometimes even within the same region or municipal area. As they say, the devil is in the details. The lease or sales contract should clearly and exactly specify the degree to which construction of any sort of "shell" or "box" building has been or will be completed prior to tenant occupancy. As either a tenant or landlord, you should not assume that the other party's definitions of shell lease terminology are the same as yours. Get it in writing, and make sure you understand and agree with all the terms and conditions of the shell lease agreement before you sign. If necessary, have a real estate attorney review the contract prior to its execution.

Shell leasing and its various forms (warm, cold, base, etc.) are used primarily in commercial real estate, but are gaining popularity in upscale condominiums and townhouses and other high-end residential real estate transactions. The idea is to attract either tenants or buyers, or both, by offering customizable living units. Financial incentives in the form of tenant (or buyer) improvement allowances afford new residents the opportunity to select nearly all aspects of interior decor, including relatively large projects such as plumbing and fixtures, wiring, and interior walls.


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

Definition:
1. One form of a shell lease, a cold vanilla shell is a commercial or residential building with a minimally finished interior, usually with ceilings, lighting, plumbing, interior walls (painted or unpainted), electrical outlets, elevators, rest rooms, and a concrete floor. It is essentially the same as a vanilla shell or warm vanilla shell building, but without a heating and cooling (HVAC) system. A cold vanilla shell is considered ready to lease and ready for tenant improvements (TI's), including the installation of the HVAC system. In many cases, the landlord will offer financial incentives in the form of a tenant improvement allowance (TIA), which pays for or at least partially defrays the cost of any improvements necessary for the tenant to occupy the building itself. Tenant improvement allowances do not usually include furniture, fixtures, and equipment (FFE) or trade fixtures necessary for the tenant to conduct business. Usually tenant improvements and vanilla shell improvements (VSI), or those improvements necessary to upgrade the building from a cold shell or base shell state, are not completed until the lease agreement between the tenant and landlord has been negotiated and executed. This ensures that the landlord does not pay for improvements that are unnecessary or that the tenant does not want.

2. The lease agreement or contract for a cold vanilla shell building. A proper vanilla shell lease should describe in detail the tenant improvements (TI's) that are to be completed, and any other information necessary for construction of the building to be completed (commonly known as build-out) prior to tenant occupancy.

Also known as a Cold vanilla box.
More or less the same as Cold lit shell, Cold white box, or Cold white shell.


Discussion: Like many real estate terms and phrases, those associated with shell leases (e.g., vanilla shell, base shell, cold shell, warm shell, etc.) differ by location and situation, sometimes even within the same region or municipal area. As they say, the devil is in the details. The lease or sales contract should clearly and exactly specify the degree to which construction of any sort of "shell" building has been or will be completed prior to tenant occupancy.

Shell leasing and its various forms (warm, cold, base) are used primarily in commercial real estate, but are gaining popularity in upscale condominiums and townhouses and other high-end residential real estate transactions. The idea is to attract either tenants or buyers, or both, by offering customizable living units. Financial incentives in the form of tenant (or buyer) improvement allowances afford new residents the opportunity to select nearly all aspects of interior decor, including relatively large projects such as plumbing and fixtures, wiring, and interior walls.


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