|
|
|
 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Thailand Real Estate Glossary Lists - Complete Porperty Terms Definitions Part 3
|
|
|
|
 Informative Article Summary by Anny Redperz
Below are lists of Thailand Property related Terms Definitions - we extracted from official Thai real estate laws
Part 3 : We list by alphabets J-P
jerry-built
A construction built of inferior and cheap materials. Poor quality
joint
Used to indicate a common property ownership interest in real estate. Indicates a shared liability in terms of contractual relationship
joint agent
Two or more agents jointly instructed by a principal to act on his behalf. In the case of estate agents this is normally on the basis that if any one of the agents affects the sale, letting or other disposition of the property, being the subject of the principal’s instructions, the other joint agent(s) will share the remuneration in agreed proportion
joint tenants
Ownership of real estate between two or more parties who have been named in one conveyance as joint tenants. Upon the death of a joint tenant, the decedent’s interest passes to the surviving joint tenant or tenants by the right of survivorship
joint venture
An agreement between two or more parties to invest in a specific single business property
joint tenancy
A form of ownership or taking title to property which means each party owns the whole property and that ownership is not separate. In the event of the death of one party, the survivor owns the property in its entirety.
judgment
A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lien against the debtor's real property as collateral for the judgment's creditor.
judicial foreclosure
A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court. Other states use non-judicial foreclosure.
juristic person
Includes a firm, corporation, union, association, or other organization capable of suing and being sued in a court of law
kar-nar-din
Ground Lease Premium
karn-oan-sitti-karn-chao
Assignment.
kong-thun-ruam-asang-ha-rim-ma-sup
Real estate investment trust
land
the land surface everywhere and includes mountains, hills, streams, ponds, canals, swamps, marshes, waterways, lakes, islands and sea coast.
land owner
A person or body corporate that owns the land.
land particulars certificate
The paper showing the inquiry for the purpose of issuing a title deed and shall also include the plot identification slip.
land reclamation
Creation of habitate land by filling up low-lying lands, wetlands, lakes or portions of the seashore.
land records
The records maintained under the provisions of, or for the purpose of, the relevant land venue code and includes a copy of maps and plans or a final town planning scheme, improvement scheme or a scheme of consolidating of holdings that has come into force in any area under any law in force
land use planning
The drawing up for a long-term plans for the use of land in a particular area of region
landing
A flat platform at the top, bottom or in the middle of a flight of steps.
landlocked parcel
A plot of land entirely surrounded by other privately owned land
landlord
The owner of a property that has been leased
landlord’s improvement
Any work of a capital nature, i.e., other than maintenance or repair, undertaken by landlord, or by the tenant at the landlord’s expense, which increases the value of the landlord’s interest in a property.
landscape
The setting of the land surrounding a building or structure. Nowadays, this is often done artificially to increase the value of the property.
layout
Design, plan or arrangement of any given space, such as the rooms or apartment, etc.
late charge
The penalty a borrower must pay when a payment is made a stated number of days. On a first trust deed or mortgage, this is usually fifteen days.
lease
A written agreement between the property owner and a tenant that stipulates the payment and conditions under which the tenant may possess the real estate for a specified period of time.
lease agreement
An agreement recording a lease between lessor and lessee
lease with option to purchase
A lease agreement which gives the lessee the option of purchasing the property within or on or after a specified date. The price and conditions under which such purchase will take place are usually mentioned in the agreement.
leasehold
The real estate which is the subject of a lease (a written rental agreement for an extended period of time). The term is commonly used to describe improvements on real property when the improvements are built on land owned by one party which is leased for a long term (such as 99 years) to the owner of the building.
leasehold improvements
Additions, alterations and improvements made to a leasehold property by the lessee
leasehold estate
A way of holding title to a property wherein the mortgagor does not actually own the property but rather has a recorded long-term lease on it.
leasehold value
Total value of a leasehold right.
lease option
An alternative financing option that allows home buyers to lease a home with an option to buy. Each month's rent payment may consist of not only the rent, but an additional amount which can be applied toward the down payment on an already specified price.
legal description
A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.
lender
A term which can refer to the institution making the loan or to the individual representing the firm. For example, loan officers are often referred to as "lenders."
legal owner
A person or corporation or trust with a legal title over a property.
legal title
Title recognised by law as the root of most other subordinate forms of title, e.g., lease or mortgage. However, legal title can be encumbered by a lease or mortgage, such that transfer of the title will not affet the rights of those with other forms of interest over property
lender
An individual or corporate body which loans money that has to be repaid.
lessee (also called tenant)
The person renting the property under a written lease from the owner (lessor).
lessee improvement
To enhance the demised premises for the tenants business operations, the tenant is entitled to carry out interior works with prior intimation to the landlord and subject to necessary approvals from the local authorities.
lessee’s indemnification
The lessee will indemnify the lessor/landlord against all and any loss or damage which the lessor/landlord may sustain by reason of claims brought against the lessor alleging bodily harm, injury and death to any person
lessor (also considered as landlord)
The owner of real property who rents it to a lessee pursuant to a written lease.
lessor’s indemnification
The lesse will indemnify the lessor/ landlord against all and any loss or damage which the lessor/landlord may sustain by the reason of claims brought against the lessor alleging bodily harm, injury and death to any person or damage to property which has been mutually discussed, described and agreed in the agreement
lettable area
Floor area allocated to a unit or space and quoted for leasing purpose. The area is usually measured from the exterior of the enclosing walls of the units and includes the unit’s share in the common area.
letter of intent
A letter written by a party or joint venturer expressing an intention to proceed with the transaction in the future. A letter of intent is not usually legally binding
letting
Leasing or renting
liabilities
A person's financial obligations. Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others.
liability insurance
Insurance coverage that offers protection against claims alleging that a property owner's negligence or inappropriate action resulted in bodily injury or property damage to another party. It is usually part of a homeowner’s insurance policy.
license
An official document giving a person or corporate body the permission to do something, such as enter, live in or use a property.
licensee
A person who has a license
lien
A legal claim against a property that must be paid off when the property is sold. A mortgage or first trust deed is considered a lien.
life cap
For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the mortgage.
life tenant
A person whose lease rights are valid only during his or someone else’s lifetime
limited liability
The maximum amount a person participating in a business can lose or be charged in case of claims against the company or its bankruptcy. A stockholder in a corporation can only lose his/her investment, and a limited partner can only lose his/her investment, but a general partner can be responsible for all the debts of the partnership
line of credit
An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain time to a specified borrower.
liquid asset
A cash asset or an asset that is easily converted into cash.
loan
A sum of borrowed money (principal) that is generally repaid with interest.
loan officer
Also referred to by a variety of other terms, such as lender, loan representative, loan "rep," account executive, and others. The loan officer serves several functions and has various responsibilities: they solicit loans, they are the representative of the lending institution, and they represent the borrower to the lending institution.
loan origination
How a lender refers to the process of obtaining new loans.
loan servicing
After you obtain a loan, the company you make the payments to is "servicing" your loan. They process payments, send statements, manage the escrow/impound account, provide collection efforts on delinquent loans, ensure that insurance and property taxes are made on the property, handle pay-offs and assumptions, and provide a variety of other services.
loan-to-value (LTV)
The percentage relationship between the amount of the loan and the appraised value or sales price (whichever is lower).
lobby
Area just inside an apartment, building, hotel, theater or house that leads on to the more functional areas
location
Geographical position of a person or thing or structure. Good or bad locations depend on the intended use of the property.
lock-in
An agreement in which the lender guarantees a specified interest rate for a certain amount of time at a certain cost.
lock-in period
The time period during which the lender has guaranteed an interest rate to a borrower.
long-term lease
A lease agreement that is valid for a long period of time. The legal definition of “long-term’ varies from country to country
lot
A portion or part of a property
luxury apartment
An apartment that has the top luxury facilities and amenities
maintenance
Periodic expenditure needed to preserve a property’s original status rather than to improve that property. Activity required for compensating wear and tear.
maintenance fee
Monthly assessment by association of owners and used for maintenance and repair of common areas. Usually a monthly fee paid.
major casualty
The destruction of or damage by reasons beyond the control of either party to all or any part of the demised premises or the building and such destruction or damage cannot be rebuilt or repaired as reasonable determined by the architect.
management
- Person or persons responsible for managing a property or overseeing a job.
- The act of managing, controlling or directing and carrying on a business.
management agreement
A contract between the owner of a property and the party who agrees to manage it. Fees are based on a percentage of income but can be a flat incentive fee basis.
margin
The difference between the interest rate and the index on an adjustable rate mortgage. The margin remains stable over the life of the loan. It is the index which moves up and down.
marina
A small dock, for small yachts and cabin cruisers having suppliers, and maintenance facilities.
market value
Independently appraised value of real estate in a free competitive marker. The highest price a buyer would pay and the lowest price as seller would accept, assuming that both were willing but not compelled to do so
master lease
A controlling lease in an apartment or office building that controls subleases
master plan
Document that describes, in narrative and with maps, an overall development concept including both present property uses as well as future land development plans. The plan may be prepared by a local government to guide private and public development or by a developer on a specific project.
maturity
The date on which the principal balance of a loan, bond, or other financial instrument becomes due and payable.
merged credit report
A credit report which reports the raw data pulled from two or more of the major credit repositories. Contrast with a Residential Mortgage Credit Report (RMCR) or a standard factual credit report.
meter
- A unit of length in the metric system that equals to 39.37 inches.
- A measuring device used for measuring the usage of utilities, such as water, electricity, gas, etc.
mezzanine
Balcony or low ceiling overhang just above the main floor and below the next storey. In a theatre, a mezzanine is the first balcony above the stage.
misrepresentation
An untrue statement, misinterpretation is a form of fraud that could lead to cancellation of contract and could lead to liabilities such as criminal and/or civil proceedings against the party who made such misrepresentation.
modification
Occasionally, a lender will agree to modify the terms of your mortgage without requiring you t refinance. If any changes are made, it is called a modification.
month to month tenancy
A tenancy when rent is being paid monthly and where the lease can be renewed for each succeeding month or terminated at the option of either party with sufficient notice
mortgage
A legal document that pledges a property to the lender as security for payment of a debt.
A document (or a process) in which the owner, called a “Mortgager” pledges his/her title of real property and/or personal property to a lender, called a “Mortgagee”, as security for a loan described in a promissory note. (Under Section 702 of Civil and Commercial Code of Thailand).
mortgage banker
A mortgage banker is generally assumed to originate and fund their own loans, which are then sold on the secondary market. However, firms rather loosely apply this term to themselves, whether they are true mortgage bankers or simply mortgage brokers or correspondents.
mortgage broker
A mortgage company that originates loans, then places those loans with a variety of other lending institutions with whom they usually have pre-established relationships.
mortgagee
The lender in a mortgage agreement.
mortgage insurance (MI)
Insurance that covers the lender against some of the losses incurred as a result of a default on a home loan. Often mistakenly referred to as PMI, which is actually the name of one of the larger mortgage insurers. Mortgage insurance is usually required in one form or another on all loans that have a loan-to-value higher than eighty percent. Mortgages above 80% LTV that call themselves "No MI" are usually a made at a higher interest rate. Instead of the borrower paying the mortgage insurance premiums directly, they pay a higher interest rate to the lender, which then pays the mortgage insurance themselves. Also, FHA loans and certain first-time homebuyer programs require mortgage insurance regardless of the loan-to-value.
mortgage insurance premium (MIP)
The amount paid by a mortgagor for mortgage insurance, either to a government agency or to a private mortgage insurance (MI) company.
mortgage life and disability insurance
A type of term life insurance often bought by borrowers. The amount of coverage decreases as the principal balance declines. Some policies also cover the borrower in the event of disability. In the event that the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds. In the case of disability insurance, the insurance will make the mortgage payment for a specified amount of time during the disability. Be careful to read the terms of coverage, however, because often the coverage does not start immediately upon the disability, but after a specified period, sometime forty-five days.
mortgagor
The borrower in a mortgage agreement.
movable property
See personal property
multidwelling units
Properties that provide separate housing units for more than one family, although they secure only a single mortgage.
multiple listing
Arrangement where the real estate listings of many local agents are provided.
negative amortization
Some adjustable rate mortgages allow the interest rate to fluctuate independently of a required minimum payment. If a borrower makes the minimum payment it may not cover all of the interest that would normally be due at the current interest rate. In essence, the borrower is deferring the interest payment, which is why this is called "deferred interest." The deferred interest is added to the balance of the loan and the loan balance grows larger instead of smaller, which is called negative amortization.
negligence
The omission to do something which are reasonable person would ordinary do under the circumstances, or doing something which a reasonable person would ordinarily not do under the circumstances. The failure to take reasonable care given the circumstances.
negotiatied
Capable of being negotiated; transferable by assignment or endorsement to another person; as a negotiable note or bill of exchange.
ngan
Equivalent to 400 square meters
no cash-out refinance
A refinance transaction which is not intended to put cash in the hand of the borrower. Instead, the new balance is calculated to cover the balance due on the current loan and any costs associated with obtaining the new mortgage. Often referred to as a "rate and term refinance."
no-cost loan
Many lenders offer loans that you can obtain at "no cost." You should inquire whether this means there are no "lender" costs associated with the loan, or if it also covers the other costs you would normally have in a purchase or refinance transactions, such as title insurance, escrow fees, settlement fees, appraisal, recording fees, notary fees, and others. These are fees and costs which may be associated with buying a home or obtaining a loan, but not charged directly by the lender. Keep in mind that, like a "no-point" loan, the interest rate will be higher than if you obtain a loan that has costs associated with it.
non-performing loan
A bank loan where the borrower has both ceased to make full interest payments, such that the lender has stopped earning interest and one where the borrowers is likely to default on the principal
non-freehold estate
Property that is not owned by the occupant but is held under lease or license.
Nor Sor 3
Is a certificate issued by the relevant local Land Department Authority certifying the usage of land of the person entitled thereto. The land has no exact boundaries.
Nor Sor 3 Gor
Is a certificate issued by the relevant local Land Department Authority certifying the usage of land of the person entitled thereto. The land is measured by the Land Department; therefore, it has its exact boundaries.
Nor Sor 4
See chanote
note
A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.
note rate
The interest rate stated on a mortgage note.
no-cost loan
Almost all lenders offer loans at "no points." You will find the interest rate on a "no points" loan is approximately a quarter percent higher than on a loan where you pay one point.
notice of default
A formal written notice to a borrower that a default has occurred and that legal action may be taken.
notices
A legal notification required by law or agreement or imparted by operation of law as a result of some fact.
nuisance
A land use incompatible with surrounding land uses. Any activity by a property owner that annoys or seriously disturbs the neighbourhood making it difficult for other property owners to use or enjoy their own property.
null and void
That which cannot be legally enforced or is not legally binding.
occupancy
Occupancy rates represent rooms nights occupied expressed as a percentage of room nights available, during any given period. For other properties (other than a hotel), it is the measure of the percentage of floor space occupied by tenants as compared to the total lettable area of the building.
occupancy certificate (OC)
A document issued by the local municipal authority building proposal department that provides no objection to occupy the building under reference for its specified use. The OC is issued only once the building has been completed in all respects and can be occupied. A corporate can carry out its commercial activity only once the premises/building has received its OC.
offer
An expression of willingness to purchase or sell a property at a specified price; presenting for acceptance a price for a property parcel; the bid price in a real estate or security transaction.
offer and acceptance
These two requirements of a contract signifying mutual consent combined with valuable consideration are the major elements of a bidding contract
offeree
An entity that receives an offer
offeror
An entity that makes an offer
office
A room, set of rooms, or building where the business such as paperwork, administration, clerical services
off-site
Improvement or activities taking place away from the site or located away from the site
off-site improvement
Development of land adjacent to the property to make it habitable such as side-walks, paved access road, sewers, etc.
open listing
An agreement permitting a real estate agent to sell the property whilealso allowing the homeowner or other agents to attempt to make the sale
option
The right to buy or sell an item at a specified price withtin a given period of time. The right, if not exercised after a specified time, expires. For example, a lease of a property with the option to buy.
oral contract
The term refers to a verbal contract made between parties where there is partial or no written agreement. These types of contract have a very week legal standing and are dependent on witnesses to the said contract
ordinance
A statue enacted by a city or town especially enactments of the legislative body of a municipal corporation or a county
ordinary repairs
Minor day-to-day repair and maintenance of a property to prevent wear and tear.
owner
An entity possessing ownership rights to a property
owner occupied
A property that is occupied by an entity that posses ownership rights to the said property
original principal balance
The total amount of principal owed on a mortgage before any payments are made.
origination fee
On a government loan the loan origination fee is one percent of the loan amount, but additional points may be charged which are called "discount points." One point equals one percent of the loan amount. On a conventional loan, the loan origination fee refers to the total number of points a borrower pays.
owner financing
A property purchase transaction in which the property seller provides all or part of the financing.
parkway
A broadlandscape highway, often divided by a aplanted median trip.
partial payment
A payment that is not sufficient to cover the scheduled monthly payment on a mortgage loan. Normally, a lender will not accept a partial payment, but in times of hardship you can make this request of the loan servicing collection department.
pa-si-bum-rung-thong-thi
Local development tax only that’s applied to land. Typically it ranges from baht 0.5 to baht 400 per rai (1,600 sq. m) (2005)
pa-si-mul-la-ka-perm
Value added tax (VAT), which is a consumption tax based on the value of goods and services offered by traders, business or persons in Thailand. It is calculated from the price of the goods and services. The standard rate is 7% (2005)
pa-si-rong-ruen
House and land tax. This is a tax on assessed rental income and only applies to properties that are rented out. Rental contracts are typically split into three components that are taxed separately as follows 1) rental : subject to a house land and tax of 12.5% of annual rental receipts;2) lease of furniture: subject to a 7% VAT; and 3) service charge: subject to 7% VAT (2005)
patio
An area adjoining the house that is paved with concrete, flagstones, brick, etc. and is used for relaxation or recreation purposes
payment change date
The date when a new monthly payment amount takes effect on an adjustable-rate mortgage (ARM) or a graduated-payment mortgage (GPM). Generally, the payment change date occurs in the month immediately after the interest rate adjustment date.
pedestrian overpass
Bridge constructed over a highway, railway, roads, etc., for the use of pedestrian.
per annum
By the year On a yearly basis. For each year.
perimeter
The boundary lines of a property expressed in terms of measurement in length
periodic payment cap
For an adjustable-rate mortgage where the interest rate and the minimum payment amount fluctuate independently of one another, this is a limit on the amount that payments can increase or decrease during any one adjustment period.
periodic rate cap
For an adjustable-rate mortgage, a limit on the amount that the interest rate can increase or decrease during any one adjustment period, regardless of how high or low the index might be.
perpetuity
The condition of being never ending. In legal terms it refers to an interest under which property is less than completely alienable for longer than the law allows
personal property (also called movable property)
Any property that which can be moved from one place to another.
Any property that is not real property.
phang-muang
Town plan
pile
Perpendicular support piece of structure, driven into the ground, which supports the foundation
pillar
A long, slender, perpendicular used as a support
pitch
Slope of roof. Pitch is the ratio of vertical rise to horizontal run
PITI
This stands for principal, interest, taxes and insurance. If you have an "impounded" loan, then your monthly payment to the lender includes all of these and probably includes mortgage insurance as well. If you do not have an impounded account, then the lender still calculates this amount and uses it as part of determining your debt-to-income ratio.
PITI reserves
A cash amount that a borrower must have on hand after making a down payment and paying all closing costs for the purchase of a home. The principal, interest, taxes, and insurance (PITI) reserves must equal the amount that the borrower would have to pay for PITI for a predefined number of months.
planned unit development (PUD)
A type of ownership where individuals actually own the building or unit they live in, but common areas are owned jointly with the other members of the development or association. Contrast with condominium, where an individual actually owns the airspace of his unit, but the buildings and common areas are owned jointly with the others in the development or association.
plat (plat map)
A map or a parcel of land showing the boundaries of individual properties that has been divided into lots
plot
1) an area of land is used for a specific purpose such as a cemetery plot
2) The term may refer to a piece of land on which a structure or improvements are to be built.
plot plan
Plan represented in the form of a scale diagram that shows the proposed or existing use of a specific parcel of land such as the location of the structures within boundaries of the property, utility services, compass direction, etc.
point
A point is 1 percent of the amount of the mortgage.
policy
A team used to describe all insurance contracts.
possession
Actual or physical holding or occurency of a property with or without rightful ownership
Postdated
Incorporating a later date on an instrument such as check or dead than the date on which it was signed
power of attorney
A legal document that authorizes another person to act on one’s behalf. A power of attorney can grant complete authority or can be limited to certain acts and/or certain periods of time.
practical completion
When a facility is completed to a stage where it is fit for occupation (minor defects may remain at this time)
pre-approval
A loosely used term which is generally taken to mean that a borrower has completed a loan application and provided debt, income, and savings documentation which an underwriter has reviewed and approved. A pre-approval is usually done at a certain loan amount and making assumptions about what the interest rate will actually be at the time the loan is actually made, as well as estimates for the amount that will be paid for property taxes, insurance and others. A pre-approval applies only to the borrower. Once a property is chosen, it must also meet the underwriting guidelines of the lender. Contrast with pre-qualification
pre-commitment
Space directly pre-leased in buildings prior to their completion or refurbishment
pre-emption certificate
the document showing authorization of temporary occupation of land.
pre-emption right
The right of first refusal or to make an offer before others.
prefabricated house
A modular structure built of blocks manufactures elsewhere and assembled at the site.
prefabrication
A technique whereby a large units of a building or a part of it are produced in factories to be assembled, ready-made, on the building site
preliminary title report
A report filed by a lawyer who has conducted a preliminary search of a property’s title. Preliminary title reports are followed by final title reports that may confirm the finsings of the earlier report or provide data on additional facts which come to light following a more detailed search.
premises
1) the preliminary or explanatory statements or facts of a documents, as in a deed.
2) Land and the buildings on it
premium
1) a sum of money or bonus paid in addition to a regular price, salary, or other amount.
2) The amount paid, often in addition to the interest, to obtain a loan.
3) The amount paid or payable, often in installments, for an insurance policy
4) The amount at which something is valued above its par or nominal value, as money or securities
5) The amount at which a securities option is bought or sold
prepayment
Any amount paid to reduce the principal balance of a loan before the due date. Payment in full on a mortgage that may result from a sale of the property, the owner's decision to pay off the loan in full, or a foreclosure. In each case, prepayment means payment occurs before the loan has been fully amortized.
prepayment penalty
A fee that may be charged to a borrower who pays off a loan before it is due.
pre-qualification
This usually refers to the loan officer’s written opinion of the ability of a borrower to qualify for a home loan, after the loan officer has made inquiries about debt, income, and savings. The information provided to the loan officer may have been presented verbally or in the form of documentation, and the loan officer may or may not have reviewed a credit report on the borrower.
price
1) the amount as of money or goods, asked for or given in exchange for something else
2) the cost at which something is obtained
prime rate
The interest rate that banks charge to their preferred customers. Changes in the prime rate are widely publicized in the news media and are used as the indexes in some adjustable rate mortgages, especially home equity lines of credit. Changes in the prime rate do not directly affect other types of mortgages, but the same factors that influence the prime rate also affect the interest rates of mortgage loans.
principal
The amount borrowed or remaining unpaid. The part of the monthly payment that reduces the remaining balance of a mortgage.
principal balance
The outstanding balance of principal on a mortgage. The principal balance does not include interest or any other charges. See remaining balance.
Principal contractor
The contractor responsible for the site and all activities that are carried out on it whilst under construction (has a major implication regarding safety)
principal, interest, taxes, and insurance (PITI)
The four components of a monthly mortgage payment on impounded loans. Principal refers to the part of the monthly payment that reduces the remaining balance of the mortgage. Interest is the fee charged for borrowing money. Taxes and insurance refer to the amounts that are paid into an escrow account each month for property taxes and mortgage and hazard insurance.
private mortgage insurance (MI)
Mortgage insurance that is provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults. Most lenders generally require MI for a loan with a loan-to-value (LTV) percentage in excess of 80 percent.
private property
Property owned by a privateindividual, company, corporation or a non-governmental body
project
A piece of planned work or an activity which is completed over a period of time and intended to achieve a particular aim, normally the construction of a facility
project management
The process of planning organizing, staffing, directing and controlling a project
property
The right and interest in lands and chattels to the exclusion of others. Something owned; any tangible or intangible possession that is owned by someone.
property line
Official dividing line between two properties. Legal boundary of property
property management
The range of functions concerned with looking after a building, including collection of rents, payment of outgoings, maintenance including repair, provision of services, insurance and supervision of start employed for services, together with negotiations with tenants or prospective tenants. The extent of an responsibility for management between landlord and tenants. The e
promissory note
A written promise to repay a specified amount over a specified period of time.
public auction
A meeting in an announced public location to sell property to repay a mortgage that is in default.
Planned Unit Development (PUD)
A project or subdivision that includes common property that is owned and maintained by a homeowners' association for the benefit and use of the individual PUD unit owners.
purchase agreement
A written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold.
purchase money transaction
The acquisition of property through the payment of money or its equivalent.
For Common Glossary about
Thailand RealEstate Terms
Please Take a Look at HERE
Big Thanks for helpful resources goes to ThaiLaws.com
|
|
|
Edit
| |
|
|
|
|
|
|
|
| |
|
|
|
|
