Real Estate Glossary

Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.



 
La - Lan - Las - Le - Leg - Li - Lim - Liq - Lo - Lot


Plot of ground, which may or may not be developed.

Method of referring to a property, which has been platted in a plat book (lot book) in the public records.

Alternately called a plat book it is where property is recorded.

A boundary line for a lot described in a plat book.

Division of a lot into two or more parcels, which can only be accomplished if it would meet the zoning requirements or unless a variance is granted.

Sloping slats, which are arranged at a downward angle, in close proximity but not touching, so there are openings between them. They are primarily used to admit light and air to provide ventilation without allowing rain to enter. Louvers can be made of wood, aluminum, galvanized steel or glass panes for louvered windows.

A lesser amount of housing in a specified area.

Concrete mixture that weighs 50 pounds or less per cubic foot due to the addition of lightweight aggregates such as perlite or vermiculite, or which has air pockets made by foaming agents. Used in such places as suspended floors where the normal weight (150 pounds per cubic foot) concrete would be a detriment.

Home loan requiring only a small down payment to obtain financing for purchase of a home.

Mortgage requiring only minimum verification of income and assets.

Housing specifically intended for those people living below a specified income level.

Pouring grout into openings in a concrete wall every few courses, which adds more stability to the wall.

Lowest level possible in a water tank, which may often activate a switch to turn on the fill tank.

Metal thin rod, possibly of brass, which has a screw thread on one, with the other end bent at a right angle. When screwed into the wall, the short end of the L provides a support for hanging objects.

Offer made to a seller that is substantially below market value.

Lowest percentage, in the air, of an explosive or flammable substance, which can explode or burn.

The ratio of the loan amount to the value of the property. The value is equal to the purchase price or appraised value, whichever is lower.

A substance, such as oil, for reducing friction between moving parts or objects by providing a smooth film.

To make smooth or slippery by applying a substance, such as oil, on moving parts or objects, to reduce friction.

Slipperiness or smoothness. Effectiveness of a lubricant.

Trade name of a tough, clear plastic material.

1. An ear shaped projection by which something is held or supported.
2. Heavy bolt used with a bolt to fasten a wheel to an axle.
3. Terminal that makes quick connection or removal possible in an electrical cable.

Window sill, which reaches beyond the window size with the ends, recessed into the wall.

Timber sawed into planks, boards, beams, etc. of commonly used sizes.

Divided into industrial, architectural and premium grades, the quality of this lumber is based on its finished appearance.

Fencing, in various patterns, created from 2 x 4's or 4 x 4's.

As outlined by the American Softwood Lumber Standard PS 20-70, having guidelines by the National Grading Rule Committee, hardwood lumber is graded as to quality from "Firsts" which has 91 ½ % clear on both sides to No. #B common, 25 % clear on one side. Grades for Softwood Lumber run from Select A, which is the best and can be used with a natural finish, to Common No. %, which is only good for filler.

National Grading Rule Committee marking that identifies lumber by grade and provides additional information.

Place where logs are sawed into lumber.

Place where lumber is stored and sold.

Quantity of light that shines on one square foot of area from a distance of one inch.

A flood light fixture with a lamp or reflector.

Lighting fixture, which directs 90 percent or more light downward.

Lighting fixture, which directs 40 to 60 percent of light upward.

Lighting fixture distributing 60 to 90 percent of light downward and the rest upward.

Lighting fixture distributing 60 to 90 percent of light upward and the rest downward.

Light which is discharged at lower temperatures than that of incandescence.

Giving off light or glowing in the dark.

Contract that provides for a set fee for the service to be performed.

A unit of illumination equal to one lumen per square meter or to the illumination of a surface uniformly one meter distant from a point source of one candle.

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