Real Estate Glossary

Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
 
Pa - Pan - Par - Pas - Pe - Per - Perm - Pi - Pip - Pl
Plat - Plu - Po - Por - Pou - Pr - Pres - Pri - Pro - Prop - Pu
Public Address System
Loudspeaker system used in large area to make announcements.
Public Domain
Land owned by the federal, state or county government that the public may use, as distinguished from property owned privately by individuals and businesses. Right to an item belongs to the public at large so anyone can use it.
Public Housing
Government-owned housing unites made available to low-income individuals and families at no cost or for nominal rental rates.
Public Lands
Acreage held by the government for conservation purposes. Public lands are generally undeveloped, with limited activities such as grazing, wildlife management, recreation, timbering, mineral development, water development and hunting.
Public Offering
Offering of new securities of a real estate company to the investing public, after registration requirements have been filed with the SEC.
Public Record
Governmentally held records of public transactions giving constructive notice that documentation exists confirming the transaction. In real estate, deeds, subdivision plats, and assessment record cards are stored by county and municipal clerks in a publicly available filing system.
Public Report
A report published by a governmental unit which is publicly available.
Public Sale
A public foreclosure sale where public notice is given and anyone is allowed to participate.
Public Sewer
Also called municipal sewer, it is the main sewer system to which private sewers are connected.
Public Syndicate
Group of at least two people or businesses combining to engage in a real estate project that would exceed their individual financial abilities. A syndication allows earning to be proportionately shared.
PUD (planned unit development)
Residential project that features dense clusters of houses surrounded by areas of open space, owned in common and maintained by a nonprofit association.
Puddle
The place where the metals fuse together on a molten weld, when heat is applied.
Puddling
  1. Defect where paint is applied too thickly and looks wet.
  2. Flooding and saturating loose backfill dirt with water, allowing it to dry and settle as a means of compacting.
Pueblo or Adobe
House modeled after the dwellings constructed by the Pueblo Indians in the American southwest and is made from adobe brick or material simulating adobe brick. The Pueblo or adobe styled house has roof beams, called viga, projecting from the walls of the structure.
Puffing
Overstating the value of a property.
Pugging
Coarse mortar that is used to deaden noise transmission when used to fill openings in masonry.
Pull Box
Box, with a removable cover for access, which is installed at a junction where two conduits meet. The box is intended to reduce strain on the wires, which can be pulled straight through one conduit into the box and reinserted and pulled through the next section of conduit. Pull boxes are used where support for the conduits is necessary, such as with long runs.
Pulley
Rotating wheel, which lifts heavy loads or aid in transmitting power, by use of the belt or cable hat fits into the rim around the wheel.
Pull Switch
Overhead electrical fixture which is operated by use of a "cord", which hangs down and is used where having to run the wire through a wall is difficult.
Pulsed Power Welding
Electric arc process of welding using computer controlled welding machine, which emits programmed short pulses of electric power.
Pultrusion
The shaping of an object, such as those made of fiberglass, by pulling it through a die.
Pulverize
  1. To crush or grind into a powder or dust.
  2. To break down completely.
Pumice
A spongy, light, porous volcanic rock used in solid or powdered form for smoothing, scouring, and polishing.
Pump
Any of the various machines that force a liquid or gas into or through, or draw it out of something, by pressure or suction.
Punch
Round metal tool that has a pointed end, which is used to make indentations or holes in a material. The point is placed against the object and the other side is hammered to drive the point into the material or to drive a nail head even with or below the surface of a board.
Punching Shear Resistant
The ability of a material to resist damage from normally expected conditions.
Punch List
List, detailing items to be fixed, which is compiled by a buyer prior to closing on a property.
Puncture Resistance
The ability of a material, to perform the function for which it is intended, by withstanding localized forces which could puncture it.
Punitive Damages
Also called exemplary damages they are used to penalize the defendant for bad faith, malice, fraud, violence or evil intent and are designed as both punishment and as a deterrent for future actions of the defendant.
Pur Autre Vie
Latin for though the life of another. A life estate in property is granted to an individual so long as a third party is alive.
Purchase Agreement
Document that outlines the purchase price and conditions of the transaction.
Purchase Contract
Legal document binding a buyer to purchase and a seller to sell, a property for a set price.
Purchase-money Mortgage (PMM)
Mortgage obtained by a borrower as partial payment for a property. Type of seller financing which is a mortgage loan from the seller instead of cash for the purchase price of the real estate.
Purchase Order
Authorization, in writing, to perform a service or supply a material, indicating the cost of such.
Purchasing Power Risk
Risk resulting from possible increases or decreases in price levels that can substantially impact real estate values.
Purge
The displacement of fluids within a system by use of another fluid or an inert gas.
Purlin
Horizontal structural member, running at right angles to the rafters that it is used to support between rafter end points.
Push Drill
Screwdriver shaped drill that performs when the handle is pushed in the direction of the work.
Putty
Pliable sealant, any of the several plastic and synthetic materials available, which is used to seal woodwork, HVAC ducting, glass, etc.
Putty Coat
The final, smoothed coat of plaster applied to a surface.
Putty Knife
Also referred to as a taping knife or a drywall knife, it's flat-bladed and comes in various widths.
PVC Pipe
Polyvinyl chloride, a lightweight, resilient, chemical resistant, strong and durable thermoplastics, with an long lifespan, made into piping which is often used for cold water systems and where chemicals are found. There is bell and spigot pipe, with a bell on one end, which has an internal elastomer seal to hold the lubricated plain end of the next piece of pipe, by making a fluid-tight joint. Solvent cement joint pipe joins the ends by applying a primer to soften the surface of the material, with the solvent cement being applied to the pipe end and the inside of the fitting end, then inserting the pipe into the fitting using a twisting motion to spread the solvent cement. The cement cures rapidly and the joints fuse together.
Pylon
  1. Any towering structure, such as a post, which flanks an entranceway, supports power lines, marks a course for aircraft, etc.
  2. A massive gateway.
Pyramid
Any huge, multi-sided solid structure with a square base and four sloping, triangular sides that meet at the top, as those built by the ancient Egyptians.
Pyramid Roof
Roof having four triangular sides forming a point at the top of a pyramid. A pyramid roof is primarily used for steeples on top of churches or certain public buildings.
Pyramid Zoning
Form of zoning regulation permitting all the uses permitted in more restrictive zoning to also apply to less restrictive zoning. The net effect of pyramid zoning is to pyramid only a few uses to more restrictive zoning regulations while allowing the broader base of uses to be applicable in less restrictive applications.
Pyroxylin
Paint or varnish binder, also called pyroxylin or nitrocellulose, which is composed from a nitric acid reaction with cellulose fibers.
Pythagorean Theorem
A mathematical principal used to calculate the length of a triangle's hypotenuse where the dimensions of the other two sides are known. The square of the hypotenuse equals the sum of the squares of the other two sides.

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Landmark Realty
Office:(541)
929-2586
       
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346-0630
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landmarkrealty@casco.net

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Philomath OR 97370

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