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Definition of Architect
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.
A hollow concrete 'brick' often 8" x 8" x 16" in size. Often used in low rise commercial and some residential construction. The original design and use is attributed to the architect Frank Lloyd Wright.
concrete block and stucco.
One cubic yard of concrete is 3' x 3' x 3' in volume, or 27 cubic feet. One cubic yard of concrete will pour 80 square feet of 3 ┬Ż" sidewalk or basement/garage floor.
Square or rectangular box that is installed within a concrete foundation or block wall. A window will eventually be installed in this "buck" during the siding stage of construction.
Fiat MOney is paper currency made legal tender by law or fiat. It is not backed by gold or silver and is not necessarily redeemable in coin. This practice has had widespread use for about the last 70 years. If governments produce too much of it, there is a loss of confidence. Even so, governments print it routinely when they need it. The value of fiat mOney is dependent upon the performance of the economy of the country which issued it. Canada's currency falls into this category.
This is a very common form of life insurance which is found in employee benefit plans and bank mortgage insurance. In employee benefit plans the form of this insurance is usually One year renewable term insurance. The cost of this coverage is based on the average age of everyOne in the group. Therefore a group of young people would have inexpensive rates and an older group would have more expensive rates.
This clause in regular life insurance policy provides for voiding the contract of insurance for up to two years from the date of issue of the coverage if the life insured has failed to disclose important information or if there has been a misrepresentation of a material fact which would have prevented the coverage from being issued in the first place. After the end of two years from issue, a misrepresentation of smoking habits or age can still void or change the policy.
This means dying without a will, in which case the provincial laws of the province in which the death occurred apply to the manner in which assets will be distributed. In other words, if you don't write your own will, the government will do it for you after your death and it may not be as you would have wished.
This is the process by which "dirty mOney" generated by criminal activities is converted through legitimate businesses into assets that cannot be easily traced back to their illegal origins.
This is the restoration of a lapsed life insurance policy. The life insurance company will require evidence of continuing good health and the payment of all past due premiums plus interest.
Generally, a suicide clause in a regular life insurance policy provides for voiding the contract of insurance if the life insured commits suicide within two years of the date of issue of the coverage.
An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes.
An insurance program designed to provide funds for insured's dependents upon death of the insured, and to also conserve, as much as possible, the personal assets that the insured wants to bequeath to heirs.
A type of insurance policy or annuity in which the owner receives dividends, typically increases the death.
CompOnent that provides life coverage during the insured's life.
Agreement of Purchase and Sale
A legal agreement that offers a certain price for a home. The offer may be firm (no conditions attached), or conditional (certain conditions must be fulfilled before the deal can be closed).
Gross Household Income
Gross household income is the total salary, wages, commissions and other assured income, before deductions, by all household members who are co-applicants for the mortgage.
A deposit made by potential home buyers during negotiations with the seller. The sum shows a seller that a buyer is serious about purchasing the property. The mOney usually is counted toward the down payment.
One of a row of houses connected with common side walls.
A sum of mOney set aside in the construction contract for items which have not been selected and specified in the construction contract. For example, selection of tile as a flooring may require an allowance for an underlayment material, or an electrical allowance which sets aside an amount of mOney to be spent on electrical fixtures.
A vertical facing of brick laid against and fastened to sheathing of a framed wall or tile wall construction.
A comprehensive set of laws that controls the construction or remodeling of a home or other structure.
A roofing composed of three to five layers of asphalt felt laminated with coal tar, pitch, or asphalt. The top is finished with crushed slag or gravel. Generally used on flat or low-pitched roofs.
All drawings, specifications and addenda associated with a specific construction project.
A device Often found in older homes designed to prevent overloads in electrical lines. See Circuit Breakers.
GFI -See Ground Fault Current Interrupter
Ground Fault Current Interrupter
An electrical device used to prevent injury from contact with faulty electrical appliances and faulty wiring
aterial used to cover the interior framed areas of walls and ceilings
Provides security, entertainment, communications, environmental control, networking, and other functions generally powered by a signal cable, phOne line or data cable. Is not typically metered.
Metal Insulation Support
16" or 24" wire rod or crisscrossed wire to hold floor insulation in place.
Vertical boards between the steps of a stairway.
The section of a building that is served by One heating or cooling loop because it has noticeably distinct heating or cooling needs. Also, the section of property that will be watered from a lawn sprinkler system.
A device, usually placed near the heater or cooler, which controls the flow of water or steam to parts of the building; it is controlled by a zOne thermostat.
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