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.



 
Sa - San - Sav - Sc - Scre - Se - Secu - Sem

Set - Sh - Shel - Si - Sim - Sl - Sm - Sol - Sp - Spi

Spr - St - Stap - Step - Str - Stri - Su - Sup


Identifier used as a mark of genuineness and authenticity.

Pressure tight bonding at nonmetallic pipe joint surfaces.

Caulking compound which forms a waterproof, airtight bond while keeping a joint flexible.

Coating which is used on a surface to close off pores so that penetration of liquid is prevented. There are different types of sealer for wood, masonry, asphalt, concrete, etc.

Fitting which prevents gas leakage, etc. from moving from one section of conduit to another.

Welding that is done to present a leak such as when a weld bead is laid where a pipe is screwed into a fitting.

A line formed by the joining together of any separate pieces. The place where those pieces are attached.

Welding done along the seam of joining or overlapping pieces.

To improve quality by aging, drying, etc. To cure.

Lumber that has been allowed to dry outside.

Loan where the borrower has proven his credit worthiness by having consistently made payments.

1. Angle of a valve seat.
2. The part of an angle iron that holds a beam.

A horizontal cut which, along with the plumb cut, forms the cutout that allows the rafter to sit against the top plate.

Barrier that prevents erosion and water damage when erected at a shoreline.

Deed of trust or mortgage in which the lender subordinates her loan to another lender whose priority is first if there is non-payment by the borrower.

A residence that is not one's primary residence. Under current tax law, a taxpayer may deduct interest on two personal residences.

A lien which is in addition to a first lien and subordinate to that first lien. It can be satisfied only after the first lien has been satisfied.

A second loan that uses an already mortgaged house as collateral. The first mortgage has priority over the second loan.

Loan that is subordinate to the primary loan and cannot be satisfied until the primary loan is paid.

Trading of packaged home loans that are resold as securities to investors, most often Freddie Mac and Fannie Mae.

A grade of material which has a slight defect or does not meet the standard set for the product. They are usable where a lessening of standard or appearance is not a problem.

Measure of land representing one square mile in the government rectangular survey; 640 acres. There are 36 sections in a 6-mile square township.

View of a building or object how it would appear if a section of the interior was removed, as it is shown on a drawing and lined up with the full view from which is was taken.

Sectional view to showcase how parts will fit together when completed. The parts are shown in an exploded view, having dashed lines from the parts to their respective locations.

View of a small portion of a whole object, enlarged to show details.

View of an entire object, which appears as though the viewer, is looking through it.

Section view, which is a view that looks into the interior of a building or object as though the exterior has been cut away and removed, exposing the interior, taken halfway through the object being shown. The other half is shown from the exterior. Half is cut away to show the inside.

Dashed line on a plan or elevation, which shows where an enlarged section view is taken.

Value which shows how much bending stress can be exerted on a structural member. The more resistance, the higher the modulus. Section modulus differs with the size and shape of a structural member. The same type of member will have a higher section modulus if it is heavier than the same type of member which is lighter because the heavier one will be stiffer.

View which is cut through two or more planes of an object, showing special inside features at different depths with relation to each other.

View section that is shown 90 degrees rotated from the original object from which it was taken.

View that looks into the interior of a building or object as though the exterior has been cut away and removed, exposing the interior.

Created by the 1974 amendments to Section 8 of the 1937 Housing Act, it is a federal program in which the government subsidizes much of the rent, in privately owned apartments, on behalf of qualified low-income tenants.

Section of the Internal Revenue Code that deals with depreciation. Capital improvements made to real property are depreciable.

This section of the Internal Revenue Code deals with tax-deferred exchanges of certain property. General rules for tax-deferred exchange of real estate state that the properties must be like-kind property (real estate for real estate), exchanged and held for use in a trade or business or held as an investment.

The section of the Internal Revenue Code that applied to the sale of a principal residence before May 7, 1997. It allowed the deferment of gain on a house when a more expensive house was purchased. Section 1034 was replaced by Section 121 for sales after May 6, 1997.

Section of the Internal Revenue Code explaining what a capital asset is and is not. Capital assets include real estate such as buildings and raw land. It excludes from the definition receivables, inventory and intangibles.

Section of the Internal Revenue Code that deals with assets used in a trade or business. Generally, gains on Section 1231 assets are taxed at capital gains rates (except for depreciation recapture) and losses are tax deductible as ordinary income.

Section of the Internal Revenue Code applying to gains from the sale of personal property subject to depreciation. In most cases, the gains are at capital gains tax rate limited to the amount of accumulated depreciation taken.

Section of the Internal Revenue Code that applies to capital gains from selling real estate that has been depreciated for tax purposes. Most buildings must be depreciated using the straight-line method.

Section I relates to the home, contents and accompanying structures. Section II provides comprehensive coverage for personal liability and the medical payments and property damage incurred by those other than the insured.

Electrical boxes which can be joined and screwed together because of their removable sides.

Reinforced and size limited brick masonry sections that are assembled at a different location from the use location. The use of these sections, which are also called Panelized Brick Masonry or Pre-fabricated Brick Masonry, lower onsite labor costs.

Return to Top