In real estate finance, points are fees charged in connection with a loan and are calculated as a percentage of the loan amount. One point is equal to one percent of the total loan. Points are often paid at closing and may be used to increase a lender’s yield or to...

In real estate finance, P.M.I. refers to private mortgage insurance, which is insurance provided by a private company to protect a lender against loss in the event of borrower default. It is commonly required when a borrower makes a smaller down payment and the loan...

In real estate appraisal, plottage increment refers to the increase in value that results from combining two or more smaller, adjacent parcels of land into a single larger parcel under one ownership. The assembled property often has greater utility and development...

In real estate and finance law, a pledge is the delivery of personal property by a debtor to a creditor as security for a debt. The pledged property serves as collateral to ensure repayment of the obligation. If the debtor defaults, the creditor has the right to...

In real estate and land surveying, a plat map is a detailed map that divides a parcel of land into individual lots, blocks, streets, and other designated areas. It is commonly used in the creation of subdivisions. A plat map shows property boundaries, dimensions, and...

In real estate and land records, a plat book is a compilation of plat maps covering a specific geographic area. It contains recorded plats that show the division of land into lots, blocks, streets, and easements. Plat books are commonly maintained by local government...

In real estate and land surveying, a plat is a map of land prepared by a surveyor that shows the boundaries of a parcel or subdivision. It typically illustrates lot lines, dimensions, easements, streets, and other relevant features. A plat may also depict buildings...

In real estate and land use regulation, a planning commission is an agency of local government responsible for guiding the development, redevelopment, and preservation of land within its jurisdiction. It plays a central role in shaping community growth and land use...

A Planned Unit Development (PUD) is a type of residential or mixed-use community designed and developed as a single, unified project under a comprehensive development plan. Unlike traditional subdivisions, which are typically governed by standard zoning requirements,...

In real estate, a planned development is a subdivision made up of separately owned parcels of land that are part of a unified development scheme. Property owners are typically members of an association that owns and manages common areas and shared facilities. In some...