The Real Estate
Encyclopedia: P-T

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...

In real estate and land use planning, a planned unit development, often abbreviated as PUD, is a type of planned development that is not subject to conventional zoning standards. It is a planning and zoning concept designed to allow flexibility in land use and site...

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...

In real estate finance, P.I.T.I. stands for principal, interest, taxes, and insurance, which are the four main components of a typical monthly mortgage payment. Principal and interest relate directly to repayment of the loan, while taxes and insurance cover property...

In real estate finance, a piggyback loan is a financing arrangement in which two or more lenders make loans on the same property under a single mortgage or deed of trust. The combined loans are secured by the same real estate. Piggyback loans are often used to...

In real estate finance, P.I. stands for principal and interest, referring to the two primary components of a loan payment. The principal portion reduces the outstanding loan balance, while the interest portion represents the cost of borrowing the funds. The term P.I....

In real estate appraisal, physical life refers to the length of time an improvement is expected to remain structurally sound and usable when properly maintained. It represents the period during which the building can physically function as intended. Physical life is...

In real estate appraisal, physical deterioration refers to the loss in value of a property caused by impairment of its physical condition. This decline results from factors such as wear and tear, aging, use, and exposure to the elements. Physical deterioration may be...