Definition: 1. Cash or other liquid assets held back by a business to cover both anticipated and unforeseen costs and expenses.
2. Money collected from a borrower (mortgagor or trustor of a deed of trust) and held by the lender (mortgagee or beneficiary of a deed of trust) in an escrow or impound account to pay for expenses such as homeowner's insurance, private mortgage insurance, and property taxes.

Terms, Definitions, and Concepts: Finance and Investment, Legal (Law), Management, Real Estate, Taxes and Taxation, Title and Title Insurance

A section is a tract of land approximately one (1) mile square and containing 640 acres, within a township. Sections are used in the government rectangular survey system (U.S. Public Lands Survey). Each section is approximately 1/36th (0.0278) of a township. Irregularities exist due to the curvature of the earth; these irregularities are corrected for in the northern and western tiers of sections in each township. One (1) section is equal to 640 acres, one (1) mile square, one (1) square mile, and 27,878,400 square feet.

1. Real or personal property that is visible and has physical form, as opposed to incorporeal property such as rights or patents.
Also known as corporeal property. 2. Real property consisting of land, improvements to the land (tenements), and physical appurtenances such as sidewalks.

1. A buildings, structure, or other improvement to land.
2. Land, buildings, offices, franchises, etc. owned by another and held in tenure (leased).
3. A rooming house; a set of rooms divided from the remainder of a building and leased as a separate dwelling (a flat or apartment).
4. A parcel of real property, either with or without improvements, as in the dominant and servient tenements of an easement.

A person who has prepared a valid, legal will. This term applies to either gender.

A land measurement used in the government rectangular survey system (U.S. Public Lands Survey). A township is six (6) miles in length on each side, with a total area of 36 square miles. It contains thirty-six (36)sections, each with an area of 640 acres, for a total area of 23,040 acres. Note that due to the curvature of the earth, a correction of 198 feet must be made every 24 miles. Therefore, many townships actually contain less than 36 square miles due to these corrections.

One (1) township is equal to 36 square miles or sections.
One (1) township is equal to six (6) miles square.
One (1) township equals 23,040 acres.
One (1 township equals 1,003,622,400 square feet.
One (1) township equals 93,239,572 square meters.
One (1) township is equal to 111,514,046.5199 square yards.
One (1) township is equal to 3,686,400.0 square rods, poles, or perches.
One (1) township is equal to 230,400.0015 square chains.
One (1) township is equal to 92,160.3695 roods.
One (1) township is equal to 27,271.9933 arpents.
One (1) township is equal to 9,323.9945 hectares.
One (1) township is equal to 93.24 square kilometers.

1. Articles of personal property annexed, installed, affixed, or attached to leased premises by the tenant, as a necessary part of the tenant's trade or business. 2. A fixture that is essential to the trade or profession of the owner, tenant, or proprietor. Although trade fixtures are often attached to real property, they are considered personal property and are often required to be removed upon expiration of a commercial lease. Ownership of trade fixtures transfers with real property only if the business itself is also sold. Synonymous with furniture, fixtures, and equipment.

1. The power of a good or service to command other goods in exchange for the present worth of future rights to income or amenities. 2. The present worth to typical users and investors of future benefits arising out of ownership of a property.

A legal, written instrument prepared by an owner of real or personal property that conveys an interest in that property to one or more persons, organizations, or entities upon the death of the owner. The act of transferring ownership in this manner is known as a devise.