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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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Unlike dividends which are paid to company shareholders, participating insurance policy dividends are not based on the company's overall profits. Rather, they are determined by grouping policies by type and country of issue and looking at how each class contributes to the company's earnings and surplus.
Interest bearing investment with fixed rate and term.
The process of determining the value of property, usually for lending purposes. This value may or may not be the same as the purchase price of the home.
The document signed by the seller transferring ownership of the home to the purchaser. This document is then registered against the title to the property as evidence of the purchaser's ownership of the property.
At the end of a mortgage term, the mortgage may "roll over" on new terms and conditions acceptable to both the lender and the borrower. This is known as renewing a mortgage. Otherwise, the lender is entitled to be repaid in full. In this case, the borrower may seek alternative financing.
A written report by a qualified appraiser estimating the value of a property.
An arched ceiling.
An expert valuation of property.
The replacement of excavated earth into a trench around or against a basement or crawlspace foundation wall.
A horizontal beam rafter that supports shorter rafters.
Measurement of lumber that is the equivalent of 144 cubic inches.
All drawings, specifications and addenda associated with a specific construction project.
The triangular end of an exterior wall above the eaves formed under a gable roof.
An upright piece of lumber or steel in a wall, to which panels, siding, drywall, or other coverings are attached.