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Home Terms Main Page
This site contains comprehensive definitions for a wide range of terms that cover topics such as home, mortgage, insurance, homebuyer, real estate, property, buy home, home insurance, financing, home financing, home buyer, first time homebuyer, homes, homebuying, credit, condo...
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This is a provincial government licensed independent businessperson who usually represents five or more life insurance companies in a sales and service capacity and who is paid a commission by those life insurance companies for sales and service of life insurance products. We for example, have been in business for 12 years and regularly place new business with over twenty different life insurance companies.
A consumer who borrows money from a lender.
Account in which interest is accrued daily and credited to the account at the end of a specified time.
Inability to work due to injury or sickness.
A policy under which the insurance company promises to pay a benefit of the person who is insured.
Rate charged or paid for the use of money, normally expressed as a percentage
Legal designation that cannot be contested. (See beneficiary)
A sum of money deposited in trust by the purchaser when making an offer to be held in trust by the vendor's agent, broker, lawyer or notary until the closing of the transaction.
The difference between the price for which a home could be sold (market value) and the total debts registered against it.
The Americans with Disabilities Act which gives civil rights protection to individuals with disabilities similar to those provided to individuals on the basis of race, color, sex, national origin, age, and religion. It guarantees equal opportunity for individuals with disabilities in public accommodations, employment, transportation, State and local government services, and telecommunications.
One who has completed a course of study in building and design, and is licensed by the state as an architect. One who draws up plans and sometimes supervises the construction of homes.
Convection is the transfer of heat in fluid or air, caused by the movement of the heated air or fluid itself. In a building space, warm air rises and cold air settles to create a convection loop and is termed free convection. Convection can also be caused mechanically by a fan and is termed forced convection.
A rough coat of mortar applied over a masonry wall as protection or finish; may also serve as a base for an asphaltic waterproofing compound below grade.
Vertical boards between the steps of a stairway.
Creates a positive flow of air that allows the house to "breathe" and helps prevent moisture build-up year-round.