Continued from…
Real Estate Glossary C [Part 8]
Culvert Round
A 15- to 18-inch corrugated drain pipe built beneath a driveway and parallel to and near the roadway.
Cumulative use Zoning
Although it is not the type of use approved for the area, this zoning type allows for a higher priority use.
Cupping
A sort of warping that causes boards to curl up at the edges.
Curable depreciation
Depreciation that can be fixed at a cost that is reasonable and economic.
A property’s deterioration that can be remedied.
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Curb
A skylight is affixed to a short elevation of an outside wall above the deck of a roof.
Curb appeal
The first impression you get of a property, whether it’s good or bad. This is usually from the street as you drive by.
On first impression, a property’s aesthetic image and look are transmitted.
Curb line
On a road, the distinction between automotive and pedestrian rights of way.
Curb stop
A vertically buried cast iron pipe with a cover, near the yard’s water faucet.
Current yield
Divide your current income by the cost of your investment.
Culvert Round
A 15- to 18-inch corrugated drain pipe built beneath a driveway and parallel to and near the roadway.
Cumulative use Zoning
Although it is not the type of use approved for the area, this zoning type allows for a higher priority use.
Cupping
A sort of warping that causes boards to curl up at the edges.
Curable depreciation
Depreciation that can be fixed at a cost that is reasonable and economic.
A property’s deterioration that can be remedied.
Curb
A skylight is affixed to a short elevation of an outside wall above the deck of a roof.
Curb appeal
The first impression you get of a property, whether it’s good or bad. This is usually from the street as you drive by.
On first impression, a property’s aesthetic image and look are transmitted.
Curb line
On a road, the distinction between automotive and pedestrian rights of way.
Curb stop
A vertically buried cast iron pipe with a cover, near the yard’s water faucet.
Current assets
(a) Assets that are not intended to be used continuously in the entity’s activities, such as stocks, obligations owed to the entity, short-term investments, and cash in bank and on hand. Real estate, which is normally treated as a fixed asset, may be treated as a current asset in certain circumstances. Examples include improved real estate held in inventory for sale;
(b) an asset that meets any of the following criteria:
(i) it is expected to be realised in the entity’s normal operating cycle;
(ii) it is held primarily for the purpose of trading;
(iii) it is expected to be realised within twelve months of the balance sheet date; or (
iv) it is cash or cash equivalent unless it is restricted from being exchanged or used. Non-current assets include all other assets.
Current liabilities
Liabilities that are due or payable within twelve months in the normal course of business.
Current yield
Divide your current income by the cost of your investment.
Curtesy
A husband’s interest in property owned by his wife at the time of her death, which is recognised in some states. The husband has no curtesy interest in his wife’s property throughout her lifetime and hence does not need to sign off on any transfer deed executed by the wife on his curtesy rights (as a wife would on her dower rights). Depending on state law, a husband may have a vested life interest in one-third of his wife’s real estate after her death. If a husband has abandoned or neglected his wife, he is usually not entitled to courtesies.
An interest in his wife’s property held by a husband.
Curtilage
The lawn or a patio are examples of enclosed ground area surrounding a home.
Curvilinear
Having boundaries that are formed by curving lines. The employment of curves in street and lot layouts by subdivision developers, as opposed to the use of earlier grid patterns, is typically referred to as “curvy.” This form of design pattern is more aesthetically beautiful, provides more seclusion, and is associated with fewer traffic accidents than other types.
Cushion
A sum of money incorporated into a contractor’s bid for a project to safeguard the contractor from unanticipated events such as delays in governmental approvals, bad weather, and bidding errors.
Custodial maintenance
The day-to-day cleaning and maintenance necessary to preserve a property’s value and renters happy.
Custody
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The upkeep and maintenance of something.
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Ownership of a property, as when a mortgagee transfers foreclosed property to the Department of Veterans Affairs (if it was a VA loan). This particular VA phrase may or may not include the property’s right of possession.
Custom construction
A building project that takes place on property owned by the final purchaser and involves the construction of a structure to the exact requirements of the purchaser-user.
Customer
The third party who is not being represented by the agent. For example, the seller is the client of the listing agent. The buyer who doesn’t have a broker can be a customer for the broker. On the other hand, if the broker is working for a buyer, he or she can “work with” a seller who is not being represented. Most state laws say that real estate licensees who work with customers must use reasonable skill and care, tell customers important and relevant facts about the property, say who will pay them, and do any other things that the law or regulations say they must do.
Customer trust fund (CTF)
An impound account used to set aside funds to cover recurring obligations such as real estate taxes, insurance premiums, leasing rent, and maintenance costs. Many lenders require the borrower/owner of a condominium apartment or other dwelling to keep such money on hand in order to assure timely payment of carrying charges.
Customer-spotting approach
A method of estimating the retail trade area (and sales/revenue potential) for a given establishment or centre based on the location of existing customers obtained through point-of-sale data (by obtaining customer address or zip code data) or customer surveys (by interviewing customers as they enter the store); data that can later be mapped to determine the extent of the trade area.
Cut and fill
Excavation of a portion of an area with the excavated material used for embankments or fill areas on or near the property.
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Cutin brace
Nominal 2" thick members, roughly 2 by 4’s, are cut diagonally between each screw.
Cyclical movement
Shifts in the national economy’s business cycle from prosperity to recession, depression, recovery, and back to prosperity.
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