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Definition of Parging
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.
Interest earned on an investment at periodic intervals and added to principal and previous interest earned. Each time new interest earned is calculated it is on a combined total of principal and previous interest earned. Essentially, interest is paid on top of interest.
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
This means that there are two or more life insured on the same policy but the death benefit is paid out on the first death only. If two or more persons at the same address are purchasing life insurance at the same time, it is wise to compare the cost of this kind of coverage with individual policies having a multiple policy discount.
This means that there are two or more life insured on the same policy but the death benefit is paid out on the last person to die. The cost of this type of coverage is much less than a first to die policy and it is generally used to protect estate value for children where there might be substantial capital gains taxes due upon the death of the last parent. This kind of policy is also valuable when one of two people covered has health problems which would prohibit obtaining individual coverage.
Life insurance or annuity product in which the cash value and benefit level fluctuate according to the performance of an equity portfolio.
The money the buyer has left over after the down payment and all those closing costs.
Corrugated metal or concrete barrier walls installed around a basement window to hold back the earth.
Framed walls (generally over 10' tall) that run the entire vertical length from the floor sill plate to the roof. This is done to eliminate the need for a gable end truss.
Any board or molding found at the bottom of an interior wall.
A basement is a usable foundation that typically has ceiling heights of 8' and is often finished off as living or storage space.
Rounded drywall corners.
Work performed by the Electrical Contractor after the plumber and heating contractor are complete with their phase of work. Normally all electrical wires, and outlet, switch, and fixture boxes are installed (before insulation).
The triangular end of an exterior wall above the eaves formed under a gable roof.
Ground level, or the elevation at any given point. also the work of leveling dirt. also the designated quality of a manufactured piece of wood.
aterial used to cover the interior framed areas of walls and ceilings
A wall-like structure that supports roof rafters.
Includes all exterior walls and any interior wall that is aligned above a support beam or girder. Normally, any wall that has a double horizontal top plate.
A wall supporting no load other than its own weight.
Part of the roof that hangs over the wall.
A passive solar wall, usually masonry or concrete, used for passing heat from one room (like a sun room or solar garden room) to another.
A final inspection of a home before "closing" to look for and document problems that need to be corrected.
When a painter spray paints the interior of a home.
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