Created when an old loan is refinanced and extended at an interest rate which is different from the original rate: the old debt is still payable at the old rate; the new debt is payable at the new …
Benchmark
A permanent feature on land which is used as a point of reference for a land surveyor.A survey mark made on a monument having a known location and elevation, serving as a reference point for …
Blighted Area
An area of a community where the infrastructure and buildings have been allowed to decay.A neighborhood that has deteriorated. …
Beneficiary
A person or corporate entity entitled to receive money or assets from a trust or an estate under a will.The lender who makes a loan, also called a mortgagee. The person borrowing money is the …
Blueprint
Construction plans, containing great detail about the particular building.The plan for a home or other structure. …
Bequeath
To leave an item of personal property to a certain person in a will (see "Devise", which refers to gifts of land in this context). …