British thermal unit-a unit of energy associated with the creation of heat. Prior to 1929, it was defined as the amount of heat required to raised the temperature of 1 pound of water 1 degree Fahrenheit. In 1929, it was redefined as being equivalent to 251.996 calories, 778.26 ft-lb, or in electrical units, approximately one-third watt-hours. In the United States, the BTU is a standard measure of the heat-producing capabilities of various heating appliances, furnaces, and fuels.
Popular Real Estate Terms
Factor employed by real estate agents or appraisers to determine the change needed in operating income to obtain a desired rate of return. It is used to evaluate income-producing property. ...
Abusive tax shelters are a consequence that resulted from Congress allowing losses of revenue to be used for tax benefits. They are a side-effect of tax deductions that companies are ...
Property that is similar in characteristic and when exchanged is a nontaxable transaction. Any property that is not like-king, such as cash (boot), is taxed. As a result, a gain is not ...
Conversion of a rental apartment house to individual condominium ownership of a portion of the minimum ownership of a portion of the building. Often, the tenant is given an opportunity to ...
Unfulfilled action where something remains to be done in order to complete it. ...
Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...
Decline in value of real estate property because it is near something which is damaging to its worth. For example, a house located next to a pollution treatment center, drug center, or ...
(1) Land adjacent to a lake, river, or stream that can also be part of a flood area. (2) Land at the bottom of a valley or glen. ...
Person or business that obtains mortgages for others by finding suitable lenders. The mortgage broker sometimes deals with collections and disbursements. Typically the mortgage broker ...
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