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Definition of Turnkey
A term used when the subcontractor provides all materials (and labor) for a job.
A plan of insurance which covers the insured for only a certain period of time and not necessarily for his or her entire life. The policy pays a death benefit only if the insured dies during the term.
Sometimes, simply called YRT, this is a form of term life insurance that may be renewed annually without evidence of insurability to a stated age.
Coverage that can pay down your debt should you become involuntarily unemployed. The payment is made to your creditors to reduce your debt owing.
The time period during which a policy is in force, or the time it takes for a policy to reach maturity.
A product that provides life coverage for a specified duration typically not beyond the age of 75.
Coverage that provides a lump-sum payment should you become terminally ill. The payment is made to your creditors to pay off your debt owing.
Cease all legal obligations under a contract.
The number of years or months over which you pay a specified interest rate. terms usually range from six months to 10 years.
The length of the current mortgage agreement. A mortgage may be amortized over a long period (such as 40 years) with a shorter term (six months to five years or more). After the term expires, the balance of the principal then owing on the mortgage can be repaid or a new mortgage agreement can be entered into at the then current interest rates. Visit our Renewal site.
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.
Corrugated metal or concrete barrier walls installed around a basement window to hold back the earth.
A transformer that steps up the voltage in a florescent lamp.
A loan that has a series of monthly payments with the remaining balance due in a large lump sum payment at the end.
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.
Rounded drywall corners.
Gable End Wall
The triangular end of an exterior wall above the eaves formed under a gable roof.
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.
One larger window with a circle top window above and usually has two smaller, rectangular windows on each side.
The "V" created where two sloping roofs meet.
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.
when a painter spray paints the interior of a home.
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