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
Parabolic Arch
Also called Tudor, Gothic, or semicircular arches, they are arches which have a span of more than six feet with a rise-to-span ratio in excess of 0.15, having a load capacity of 1,000 pounds per foot.
Parallax
A distortion or incorrect interpretation of what is seen when objects are located on in front of the other, and apparently looks as though it is one thing, when in fact it is another, such a an indicator being read from the side rather than from the front.
Parallel
Similar property. Properties that are side by side but do not meet.
Parallel Application
Sheetrock (wallboard) installation with the long edge running in the direction of the framing rather than perpendicular to it, as it is normally.
Parallel Circuit
Electrical circuit with the loads connected across the power source instead having the power source pass through each load in the series, keeping unbroken continuity of the circuit, so that if one fails, the other do not.
Parallel Clamps
Two sets of hand screws, on a set of clamp jaws, adjustable to hold objects at different angles.
Parallel Lines
Lines that are the same distance apart along a straight length.
Parallel Walls
Stud walls, which are built close but not touching to give some insulation from sound. When walls don't touch the vibration of one does not result in the vibration of the other.
Parallels
Gauges of hardened, precision lapped steel, either adjustable or not, which is used to layout or measure parallel lines.
Parapet
Protective, low wall along a roof or any edge or below a terrace.
Parcel
A piece of land that is usually a part of a larger acreage.
Parget
Plaster or similar wall coating, raised ornamental plasterwork formerly used on ceilings and walls.
Pargeting
Decorative coating of plaster applied to a chimney or other masonry wall.
Parging
The application of a rough coat of masonry or plaster to protect a surface from water penetration, often a ½ inch later of cement-sand-mortar with a tar layer, used on the outsides of foundation walls
Paris Green
Paint additive of copper acetate and arsenic trioxide, green in color, which is used for insect control.
Parking Area
Space reserved for specified vehicles.
Parlor
Room in a home that is used for more formal purposes.
Parol
Statement made verbally.
Parol Evidence
Oral evidence, rather than that contained in documents.
Parol Evidence Rule
Permits oral evidence to augment a written contract in certain cases.
Parquet
Decorative pattern, used for flooring, consisting of small, inlaid, wood pieces.
Parquet Floor
Hardwood flooring that comes in squares ranging from 9" to 36" and is arranged in tightly fitting geometrical pattern. It is decorative and often more than one color. Like strip flooring, parquet has tongue and groove edges. It comes finished and unfinished.
Parquetry
Wood pieces fashioned into a decorative pattern.
Partial Interest
Ownership of a part of the ownership rights to a parcel of real estate.
Partial Penetration
Joint weld, which should not go all the way through the joint.
Partial Release
Release of a portion of a property from a mortgage.
Partial Taking
Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed.
Participation or Participating Mortgage
Agreement between a mortgagee and a mortgagor that allows the lender to have a percentage of ownership in that particular property. Allows the lender to share in part of the income or resale proceeds.
Particleboard
Board composed of wood chips glued together under pressure. More dense than chipboard.
Parting Stop or Strip
Small strip of wood which is attached on both sides of a double hung window jamb so that, when the sashes slide past one another, as the window is opened or closed, the relative position of the sashes is maintained.
Parting Tool
Also called cutting off tools, they are available for both wood lathes and metal lathes and are used to cut straight into the piece that is turning on a lathe to separate it from the lathe headstock. The wood lathe tool is hand held. The metal lathe tool is held in a tool holder and is advanced into the work as the work spins and cuts completely and smoothly through the work.
Partition
The division of real estate between owners giving each an undivided interest. Alternately, an interior wall dividing an area into two or more rooms or separate areas.
Partition Action
Court action to order a compulsory sale of real estate owned jointly between two or more owners. A partition action divided the proceeds of a real estate sale among the joint owners rather than physically dividing the real estate into separate undivided interests.
Partition
Divider used to separate one section from another.
Partition Terminal
Metal edging which serves as an expansion joint at the top of a plaster partition which does not connect to any other part of the construction.
Partition Wall
Wall which subdivides space but does not provide structural support.
Partnership
An agreement between two or more entities to go into business or invest. Either partner may bind the other, within the scope of the partnership. Each partner is liable for all the partnership's debts. A partnership normally pays no taxes, but merely files an information return. The individual partners pay personal income tax on their share of income.
Parts Per Million
Measurement, in parts per million, used to designate the minute presence of microscopic particles in a liquid or gas fluid.
Party Wall
Boundary wall between two properties, built along the line separating the properties, partly on each parcel. Either owner has the right to use the wall and has an easement over that part of the adjoining owner's land covered by the wall.

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Landmark Realty
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929-2586
       
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346-0630
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