Real Estate Glossary C [Part 9]

CONTINUED-FROM

Continued from…

:point_right: 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.

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 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

  1. The upkeep and maintenance of something.

  2. 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.

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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.

CONTINUED-AT

Continued at…
:point_right: Real Estate Glossary C [Part 10]