Prefabricate House
Definition of "Prefabricate house"
House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked onto the home site as a complete unit where it is installed on a completed foundation. Often times the prefabricated house is installed in preassembled components which are simply attached to each other on site. The advantages of a prefabricated house include lower cost, as a function of mass production and high quality.
Popular Real Estate Terms
Right to substantive real or personal property having tangible body and form. For example, a corporeal right to a house, property, furniture, or fixtures. ...
To have a debt is to owe someone something. A debt may be a service, may be money or goods. May even be of gratitude. In the finance world, however, it usually is a way that institutions ...
Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement. ...
The term apartment is used when referring to a type of residential unit that is self-contained and occupies only a part of the building. Through self-contained, we understand that the ...
lender who charges an exorbitant interest rate, which is typically illegal because it exceeds the interest rate allowed in the state. A borrower may go to a loan shark if he cannot obtain ...
Lien which is over and above a first lien. A second lien is subordinate to the first lien and can be satisfied only after the initial lien is satisfied. ...
Functional utility in real estate typically defines a property’s usefulness to the homeowner or lessee. The more purposes it can fulfill, the better. For instance, you can call a ...
Litigation undertaken to obtain or maintain possession of real property. ...
Municipal ordinance stating the distance from a curb or property line where the building of a structure is prohibited. Also states the distances from a boundary line where construction is ...
Have a question or comment?
We're here to help.