Real Estate Glossary

Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
 
Ia - In - Ind - Inf - Inn - Insu - Int - Inu
Intake
Opening of a machine or the suction device employed to bring water, fuel or air into the system.
Intangible
  1. Something that cannot be touched.
  2. That which cannot be easily defined, grasped or formulated.
  3. Without material body or substance.
Intangible Property
Nonphysical valuables, such as contracts or mortgages, employee loyalty or customer good will, which are distinguished from physical property such as buildings and land.
Integral Lockset
Spring lock and dead bolt lock combined in one lockset assembly.
Integral Vanity Top and Bowl
One-piece bathroom vanity with a built-in sink.
Integrated Circuit
Electrical circuit, which is enclosed inside a single semiconductor chip.
Inter Vivos
Transactions taking place between living individuals rather than when one of the parties is dead or contemplating death.
Inter Vivos Trust
Trust which is set up during one's lifetime.
Interceptor
Separating and trapping device for grease and oil, which exists in a plumbing drainage system.
Interest
Fee paid by borrower for the use of money that is loaned to them. It is a certain percent of the total of the loan.
Interest Accrual Rate
The rate at which interest is added onto the principal of a loan (accrual).
Interest Rate
The percentage of the principal amount of a loan that is charged for use of that loan. This amount determines the monthly payment.
Interest Rate Cap
Maximum interest rate allowed, during an adjustment period, on the monthly payment of an adjustable rate mortgage.
Interest Rate Ceiling
Highest interest rate allowed to be charged on an adjustable rate mortgage.
Interest-only Loan
Loan, where only the interest is paid each month. Therefore, the outstanding amount of principal is not reduced.
Interface
  1. A plane forming a common boundary between two parts of matter, substance, objects or space, which do not combine with each other. Example - oil and water.
  2. A point or means of interaction or communication between two systems.
Interference
  1. A collision, clash or conflict.
  2. To come into contact or between two parties for a purpose.
  3. Intervention.
  4. Mutual action of two waves or streams of vibrations in reinforcing or neutralizing each other according to their relative phases on meeting.
Interference Fit
Also called a drive fit, this very tight fit requires force to mate the parts.
Interim Loan
Loan that is to be replaced by a permanent loan.
Interim Financing
Financing, used for a short term, to bridge the gap between the purchase of a home and the sale of a home, is also called a "bridge loan". Construction loans are interim financing.
Interim Use
Temporary use of property in a non-conforming use, which can be overturned by a formal zoning ruling.
Interior
Situated within. On the inside of something.
Interior Door
Doors that are used on rooms within a building and are not constructed to be exposed to the elements.
Interior Finish
Material used on the interior, rather than exterior, walls of a building.
Interior Trim
Interior building trim surrounds windows, doors and baseboards and is both decorative and functional. It finishes the adjoining surfaces between window casements and doorway edges as well as baseboards and stairwells, etc. and comes in several different styles.
Interior Wall
Wall which faces interior space on both sides, with no part of it exposed to the exterior.
Interlacing Arcade
Arches that seem to cross each other.
Interlock
  1. To connect or be connected by fitted parts.
  2. To be connected so that neither part can be operated without the other.
  3. Electrical circuit used to block an action until certain conditions have been met.
Interlocking Shingles
Roof shingles which are fitted with tabs to lock one shingle to another.
Interlocutory Decree
An interim or provisional court decree, which is not final and can be reversed or amended and is normally issued to direct additional proceeding prior to issuing a final decree.
Intermediate Flux
Soldering flux with a residue that is non-corrosive to the base metal.
Intermediate Metal Conduit
Having a thicker wall and being heavier than electrical metal tubing but thinner than rigid metal tubing, making it easier to bend, this conduit can be used anywhere rigid metal conduit is used if the thinner wall can tolerate the physical abuse applied at the location of installation.
Intermediation
Court order on an issue directly related to the immediate action.
Intermittent Weld
Sections left undone along the line of the weld due to non-continuous welding.
Internal Combustion
Power is caused by the combustion of fuel within this type of engine, such as a gasoline engine where the fuel is burned in a cylinder, powering the engine. A steam engine is not an internal combustion engine because the steam that powers it as been caused by burning fuel in a boiler and not the engine.
Internal Gear
Hollow gear with teeth cut on the interior surface.
Internal Mix
Spray gun, which mixes the paint and air in its interior, forcing it out as a spray.
Internal Rate of Return (IRR)
Real annual return on a real estate investment. It equates the initial investment with the present value of future net cash inflows from the investment.
Internal Revenue Code
United States tax law consisting of rules and regulations to be followed by taxpayers and is continually revised and amended.
Internal Revenue Service (IRS)
The branch of the federal government responsible for collecting taxes, including corporate and personal. It also administers tax rules and regulation and investigates tax irregularities.
Internal Threading Tool
Tool that cuts internal threads in metal parts, as in a lathe, which cuts internal threads in large holes.
International Architecture
A design of architecture originating in Europe in the 1920's, its design was very functional and emphasized buildings constructed of steel, reinforced concrete and glass. Smooth white surfaces with very large wall windows and no decoration, advertised that functionality was important and "less is more" it was possibly a reaction to the highly decorated houses of the Victorian period.
International Association of Assessing Officers (IAAO)
The association was founded in 1934 and is located in Chicago, Illinois and seeks to ameliorate assessment standards as well as to perform ongoing property assessment research. The IAAO conducts educational programs and offers seminars, as well as awarding professional designations and task forces on various professional subject. It publishes the bimonthly Assessment Digest and the monthly Assessment and Valuable Legal Reporter.
International Right of Way Association (IRWA)
Founded in 1934 and located in Gardena, Ca, it is a professional association of appraisers attorneys engineers, negotiators, property managers, title examiners, and others having interests in the purchase of public rights of way for the construction of highways, utility rights of way and other public construction purposes.
Interpass Temperature
When producing a multiple weld pass application, the proper temperature a deposited weld metal should be prior to deposit of another weld pass.
Interrupter Feed-through Receptacle
Ground fault interrupter receptacle that is installed in the circuit between the power source and the other receptacles that are plugged into it. These receptacles are protected from an electrical surge just the same as it would be if plugged into the GFI receptacle.
Intersection Angle
External angle, which is shaped by the intersection of two tangents to a curve.
Interstice
  1. A small or narrow space between things or parts.
  2. A crevice, chink or crack.
  3. Small amount of time between acts.
Interstate Land Sales Full Disclosure Act
Federal act requiring potential purchasers and lessees of undeveloped land be provided with all necessary information required to make an informed decision regarding the desirability of the land being considered prior to making any purchase or lease decisions. Its purpose is to provide full consumer information.
Interval
  1. A space, gap or distance between two things.
  2. A period of time between two points of time or events. The intervening period.
Interval Ownership
Sometimes called time-sharing. The segregation of ownership in real estate property over a stated time period, such as one or two weeks yearly. Often used for vacation properties. The time-share owner has the right to use the property on the same dates each year.
Intestate
Person who dies without a will and having unknown intentions regarding the disbursement of his estate. In this case, a court appointed administrator typically acts as an executor.
Intrados
The inside curve or surface of an arch or vault.
Intrusion
  1. The illegal entering onto the land of another without right to possess.
  2. The act of trespassing.
Intrusion Detector
Any type of detector, often motion or heat sensing, which is used to find any presence with a certain area.

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Landmark Realty
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929-2586
       
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346-0630
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Philomath OR 97370

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