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BACKFILL |
The replacement of excavated earth in a a
hole or against a structure. |
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BALLOON PAYMENT |
Where the final installment payment on a
note is greater than the preceding installment payments and it
pays the note in full such a final installment is termed a
balloon payment. |
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BASE AND MERIDIAN |
Imaginary lines used by surveyors to find
and describe the location or private or public land. |
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BENCH MARKS |
A location indicated on a durable marker by
surveyors. |
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BENEFICIARY |
(1) One entitled to the benefit of a trust:
(2) One who receives profit from an estate, the title of which
is vested in a trustee: (3) The lender on the security of a
note and deed of trust. |
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BEQUEATH |
To give or hand down by a will; to leave by
a will. |
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BEQUEST |
That which is given by the terms of a will.
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BLANKET MORTGAGE |
A single mortgage which covers more than
one piece of real estate. |
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BLIGHTED AREA |
A declining area in which real property
values are seriously affected by destructive economic forces
such as encroaching inharmonious property usages, infiltration
of lower social and economic classes of inhabitants and/or
rapidly depreciating buildings. |
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BONA FIDE |
In good faith, without fraud. |
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BREACH |
The breaking of a law or failure of duty
either by omission or commission. |
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BUILDING LINE |
A line set by law as a certain distance
from a street line in front of which an owner cannot build on
his lot. (A setback line) |