A one-time or lump-sum payment made by a borrower in addition to the regular payments on a loan or mortgage which reduces the principal owing on the debt. Extra money included in the monthly payment …
Acknowledgement
A statement by a person to the effect that they are aware of a certain fact. May also be a sworn document to the same effect, which further states that the person signing the document did so …
Adequate Public Facilities Ordinance
An ordinance by the local level of government controlling development by requiring that infrastructure works (roads, sewers, hydro lines) be completed prior to or concurrent with the building of …
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Acquisition
The process of taking title to or ownership of something.Acquisition refers to the process of obtaining ownership or control over a property or asset, typically through purchase, exchange, or …
Adjacent Land
An inexact term used to described any property which is situated near or abutting a certain piece of property. Note, an abutting property will always be adjacent but an adjacent property may not be …
Acquisition Cost
The cost to the purchaser of obtaining title to anything, including real property. Acquisition cost includes the cost of the transaction of obtaining title, including legal fees and expenses, interest …