Definition of "Sump"
Pit or cavity built into the basement of a building to avoid or minimize flooding. It allows for the drainage of excess water and moisture.
Popular Real Estate Terms
To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Listing of property that is open, meaning there is no one real estate agent who has the sole right to sell the property. ...
To put it simply, acquisitions are a common occurrence in the business world, and they happen to small, medium, and large businesses alike. The definition of acquisition is a company ...
The definition of acoustical materials is a wide range of materials that are used in construction or technology to provide soundproofing. There are different types of acoustic materials ...
income statement destroyed by a casualty such as a fire. This requires the reconstruction of the income statement based on source records, information, and documents. Income statement ...
Property that is unoccupied and thus not being used. It is usually raw land with no structure or improvements theron. ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
The definition of voluntary alienation in real estate is the transfer of the residency rights or deed of a property between two parties without the use of extraneous legal measures. Unlike ...
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