Real Estate Glossary

Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
 
Ma - Mai - Map - Mas - Me - Mes - Mi - Min - Mo - Mol - Mor - Mu
Mineral Granules
Various colored natural or synthetic stones used to provide a wearing surface on roofing material.
Mineral Insulated, Metal Sheathed Cable
Cable that consists of electrical conductors insulated with compressed mineral refractory material and then enclosed in a liquid and gas tight copper sheathing. Other than where copper can become corroded, this cable usable in wet, dry, hazardous, explosive, etc. locations.
Mineral Lease
An agreement that provides the lessee the right to excavate and sell minerals on the property of the lessor or to remove and sell petroleum and natural gas from the pool underlying the property of the lessor. In return, the lessor receives a royalty payment based on the value of the minerals removed.
Mineral Rights
Ownership rights to the minerals or other precious resources, in one's property. The privilege of gaining income from the sale of oil, gas, and other valuable resources found on land.
Mineral Surfaced Roofing
Felt, in roll form, that is coated with mineral granules and asphalt.
Mineral Wool
Fluffy type of insulation, used prior to the invention of insulation, it is created by subjecting rock or molten refuse from the melting of metals or ores to high-pressure steam blasts.
Minimum Lot Area
The smallest lot area required or allowed for building under the municipal zoning code.
Minimum Rated
Risk In insurance, charging the lowest rate accorded an insurance policy covering a minimum risk classification situation.
Mini-Warehouse
A building separated into relatively small lockable individual units, typically with a garage-door-type opening, that provides storage.
Minor
Person under the age of legal competence as specified by law. 18-21 years, depending on the state.
Minor Arch
This arch, also called a flat arch, straight arch, jack arch, segmented arch, or multicentered arch, has a horizontal top surface, with a span of up to 6 feet, can support loads up to 1,000 pounds per square foot, with a rise to span ratio of 0.15 or less.
Minor Diameter
Smallest diameter found on the threaded portion of any threaded object.
Minority Discount
A reduction from the market value of an asset because the minority interest owner(s) cannot direct the business operations.
Minority Interest
Ownership of less than 50% of an entity.
Mint Condition
A house or anything that is as close to new as possible.
Mirror Hanger
L-shaped attachment, which fastens to a wall, surface with screws and supports to hold up a mirror without drilling holes though the glass.
Miscible
Able to be mixed.
Misrepresentation
An untrue statement, whether unintentional or deliberate. Misrepresentation is a form of fraud that could lead to cancellation of a contract or could bring other liability.
Mission House
A nineteenth century style of housing that resembles the old mission churches and houses of Southern California. It has a tile roof, arch-shaped windows and doors, stucco walls and pyramid roof.
Mission Stipple
Technique created by dabbing a wet surface with a sponge, creating a slightly roughened decorative surface.
Mist
  1. Thin film of moisture condensed on a surface in small drops or falling through the atmosphere.
  2. A fine spray.
  3. Cloudiness or film, dimming or blurring.
Mistake
An unintentional error.
Miter or Mitre
  1. A kind of joint formed by fitting together two pieces, beveled to a specific angle (normally 45 degrees) to form a corner, usually at a right angle.
  2. Bend in a pipe created by cutting it at an angle and welding it together.
Miter Box
The device used to guide the saw to cut wood at an angle for a miter box.
Miter Clamp
Clamp which holds two piece together, at the mitered right angle, until glue sets.
Miter Joint Angled Joint Miter Vise
Vise that holds two pieces at right angles for the miter cut to be made.
Mixed-Income Housing
Area of houses at widely varying prices.
Mixed-Use Development
Combination development of several different functions within one area such as residential space combined with a commercial establishment.
Mixed Use Commercial Project
Commercial building having several different uses blending together, such as retail shops on the first floor, professional offices on upper floors and a restaurant on top.
MLS (multiple listing service)
Service combining the listings, in one database, of all the available homes, except those being sold by the owner, in a specific area.

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Landmark Realty
Office:(541)
929-2586
       
(800)
346-0630
Fax:  (541) 929-3548

landmarkrealty@casco.net

405 Landmark Dr
Philomath OR 97370

Mon - Fri  9:00 - 5:30
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