Definition of "Beam"
Primary horizontal support for a structure such as a house. It may be a large piece of wood, stone, iron, or other material that lies across the walls, and serves as support of the principle rafters.
Popular Real Estate Terms
An entrance hallway from the outside of a building. Foyers are intended as a gathering place for people either before exiting or upon entrance. ...
The third-party definition refers to an individual or entity in a transaction but is not the buyer or the seller. Usually, a third party has some role in the transaction. They do not have ...
Measure of the value of all goods and services produced by the economy within its boundaries and is the nation's broadest gauge of economic health. GDA is often a measure of the state of ...
Appraisal performed in accordance with the National Housing Act to determine the resale value of vacant or improved property in an urban area to be or under development. The renewal ...
Contractual clause allowing one or both parties to terminate the agreement if a specified occurrence takes places. This is a cancellation clause, which allows the agreement to become null ...
A cooperating broker or agent defines a real estate broker who helps another broker in a private property transaction. Typically, the cooperating broker represents the seller and is ...
Marketable title that is free of encumbrances and disputed interests. Clear title is essential in order to convey a general warranty deed in a transaction. ...
Expected period of benefit used to depreciate business property, plant, and equipment. The guidelines may be developed by the industry or Internal Revenue Service (IRS). ...
Stated rate of interest on the face amount of a loan or installment note. ...
Have a question or comment?
We're here to help.