Definition of Townhouse

Townhouse

One of a row of houses connected with common side walls.

Fiat Money

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.

Money Laundering

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.

Borrower (Credit Insurance)

A consumer who borrows mOney from a lender.

Earnest money

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.

Escrow account

Most lenders set up this account that receives monthly payments from home buyers to pay for obligations such as insurance, taxes and assessments.

Area Walls

Corrugated metal or concrete barrier walls installed around a basement window to hold back the earth.

Crown Molding

A molding used on cornice or wherever an interior angle is to be covered, especially at the roof and wall corner.

aterial used to cover the interior framed areas of walls and ceilings

Sidelight

A vertical window beside a door or another window.

Zone

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.

Zone Valve

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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