Terms Beginning With - P
Property Development & Investment Glossary, Terms & Definitions
A parcel of land that is owned by only one person.
The act of removing a general mortgage lien from a piece of the pledged property.
The seizing of merely a portion of the property or property rights in a condemnation.
A loan in which the lender shares in the property's future cash flow and resale profits.
The partition of property among individuals who have an undivided stake in it.
An organisation of two or more persons acting as co-owners for the purpose of operating a profit-making enterprise.
An agreement between partners that spells out each party's responsibilities and rights.
Rents, royalties, dividends, interest, and capital gains from the selling of securities are all sources of income.
A person who makes a financial investment but does not participate in its management.
Expenditures or a portion of tenancy expenses that are "passed through" from the landlord to the tenant and paid by the renter.
Multipliers for real estate investing criterion based on rules of thumb.
For the advantages of an investment, generally income or cash flow, to repay the whole cost or equity costs of the investment, there are rules of thumb that result in years.
A price levied for breaking the law or breaching a contract's conditions.
A lease in which the rent is calculated as a proportion of the lessee's gross revenue.
A test for determining the drainage properties of soil.
A bond offered by an insurance company to ensure that a building contract is completed.
A defined region around the outside of a structure.
A mortgage whose interest rate is linked to a floating index. At predetermined intervals, the interest rate is modified.
An individual's pledge to endorse a note or obligation.
Personal income tax rates
The federal tax rates that are applied to individual income in order to calculate the government's tax burden.
Personality is a possession or object that is not actual property.
Everything that isn't firmly tied to the land.
Taxable income that may or may not have been received.
The depreciation of property as a result of the passage of time and the activity of the elements.
The length of time that a building remains structurally sound, which is determined by the quality of its upkeep.
A loan that can be used for both construction and permanent purposes.
Planned unit development (PUD)
A zoning designation that permits a subdivision's design to be more flexible.
A map or plan of a certain land region.
A public record that includes maps of land and street divisions.
Pledged account mortgage (PAM)
The mortgagor must commit a quantity of money at loan closing to be set aside to support periodic mortgage payments.
A graphic depicting the projected or current usage of a particular piece of land.
The walls that are given along sections where there are no preparations for pipe shafts, such as in the kitchen and bathrooms.
A one-percentage-point fee applied by a lender to the principle loan amount.
The right of a property owner to inhabit it. By right of title, the owner enjoys constructive possession of the property when it is inhabited by a renter.
Power of attorney
An instrument that authorises another person to serve as the grantor's agent.
Power of sale
A mortgage clause that allows the lender to sell the property if the borrower defaults.
A run-through of the ending.
Prior to receiving a certificate of occupancy, secure a lease commitment.
Preliminary cost estimates
The first cost estimates, which are sometimes referred to as "ballpark" values. Prior to a more in-depth investigation, these data were calculated.
The price of a policy of insurance.
Expenses that have been paid in advance of the period they are supposed to cover.
A mortgage clause that specifies the parameters of a mortgage loan's early repayment.
A penalty imposed by a lender when a loan is repaid early.
The selling of a property before it is finished.
Adverse possession is the process of acquiring property rights.
A sum of money that would be equivalent to a certain amount of money in the future if invested today at a set interest rate.
Present value of future selling price
The current value of the $1.00 component multiplied by the estimated future selling price.
A programme that inspects the many physical components of a property on a regular basis.
A lease between a landlord and a tenant whose interest has been leased in whole or in part.
The interest rate that a lender charges its most credit-worthy borrowers.
A business property's anchor tenant.
The most important participant in a transaction.
The mortgage loan's total amount.
Principal and interest payment (P & I)
The periodic payment of both the principle reduction and the interest required on a loan, generally made monthly.
Private limited partnership
A limited partnership with a small number of investors and shares that are not available to the general public.
Private mortgage insurance (PMI)
A mortgage insurance policy that pays off if the borrower defaults.
A broker will be considered the transaction's procuring cause. If his efforts form the foundation on which the talks culminated in a closure, he is entitled to the real estate commission.
Profit and loss statement
A declaration that shows a property's operational results.
A forecast of future earnings and costs.
A property's intended development plan.
A prediction of a property's future performance.
A syndicator is a person who organises a group of people
To the exclusion of all others, an individual's rights in lands or assets.
A piece of land's recorded boundaries.
The management of real estate as a company.
Property management fee
A charge paid to a management business in exchange for services given, generally based on a portion of the revenue earned.
Property residual technique
A method for determining the worth of a property based on expected future income and the reversionary value of improvements and land in assessment.
The "bundle of rights" refers to the legal rights and duties that come with ownership.
A local government tax based on the assessed value of a piece of property.
A document that grants a cooperative shareholder the right to occupy a unit under specified circumstances.
The buyer and seller divide the prepaid or accumulated expenditures that are payable at the time of sale.
A document that outlines the specifics of a particular investment opportunity.
Public limited partnership
A limited partnership with shares available to the general public, allowing for a large number of investors.
A public notice auction sale of a property.
Prior to a sale, a list of items that need to be finalised or fixed.
A prediction of a property's future performance.
Purchase money mortgage
A mortgage given to the seller at the same time as the purchase of real estate to protect the remainder of the purchase price that has not been paid.