by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and site planning, orientation refers to the placement of a structure on a lot in relation to environmental and surrounding factors. This includes consideration of exposure to the sun’s rays, prevailing winds, street frontage, and nearby sources of...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and contract law, an oral contract is a verbal agreement between parties that has not been reduced to writing. It is formed through spoken words rather than a written document. While oral contracts may be legally valid in some circumstances, many real...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate, an option is a contractual right granted for consideration that allows a person to purchase or lease a property on specified terms within a defined period of time. The party receiving the option has the exclusive right to decide whether to exercise it....
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and land use regulation, the open space ratio is a measurement that compares the amount of land area devoted to open space to the total floor area of an apartment building. It is commonly expressed as a ratio and used to evaluate development density....
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, an open mortgage is a mortgage loan that allows the borrower to prepay the debt in whole or in part without incurring a prepayment penalty. This feature gives the borrower flexibility to refinance or pay off the loan early. Open mortgages are...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate brokerage, an open listing is a written authorization given by a property owner to a real estate broker agreeing to pay a commission if the broker procures an offer that meets the specified price and terms. The agreement does not grant the broker an...
