ANSI Standard (American National Standards Institute)
Definition of "ANSI Standard (American National Standards Institute)"
What is the ANSI (American National Standards Institute) Standard?
Before arriving at the definition of ANSI standard, you must know that ANSI stands for The American National Standards Institute founded on October 19, 1918 as a private, not-for-profit organization. This institute creates thousand of guidelines, norms, and definitions that apply in almost any business, including the real estate industry. All the standards and norms are conceived in order to protect the consumers (such as property owners/homeowners) and ensure their safety while also making the products more competitive.
These standards work best when integrated horizontally, in the same industry, and vertically, in interconnected economic sectors. These standards are not mandatory. The definition of an ANSI standard could be the best way someone is expected to do something, for maximum security and durability. The ANSI codes are available for sale on their website.
For example, In April 1996, the American National Standards Institute (ANSI) adopted a standard for measuring single-family residential buildings. ANSI standards have been adopted by most MLS services and real estate agents. When measuring the gross living area, appraisals and real estate agents must know the definition of the gross living area by heart. They must pay attention to finished and unfinished areas, whether rooms or other buildings are connected to the main house or not, and also if the rooms are below grade or above grade.
ANSI codes and standards cover building and demolition, electronic communications, cloud security, lasers, machine safety and many more.
When it comes to construction, there are safety measures that need to be taken for example when working in a confined space, working with electricity, or on a scaffold. The ANSI standards and training are also protecting the workers when applied, although they are not enforced like the OSHA laws.
On April 30, 2013, President Barack Obama signed a proclamation officially designating May as Building Safety Month.
Popular Real Estate Terms
Flaw in an otherwise proper title. A title obtained through error or fraud without proper signature or consideration or other improper action. A defective title is null and void having no ...
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
Subordinate lien to a previous lien. Generally attached after a previous, and therefore senior, lien has been attached to property. In the event of a foreclosure action where there are ...
Certificate issued by the government showing evidence that the veteran is qualified and the amount of guarantee available to maintain a VA loan. It is one of the documents necessary to ...
Formal statement by an auditor, after through examination and consideration, as to whether a real estate company's financial statements fairly present financial position and operating ...
Typically, a waiver means remission or giving up on a particular claim. You can find the term waiver widely used in real life, finance, and real estate terminology. How do waivers work? A ...
Obtaining all the money needed for a real estate project's development. The acquirer/developer does not need to give any of his own funds for upfront costs. The developer also does not have ...
See before-tax cash flow; cash flow. ...
(1) Surrendering voluntarily or involuntarily ownership of property or an interest therein. (2) Court order to give up possession or the right to property such as in the case of an ...
Have a question or comment?
We're here to help.