An employer-established retirement savings plan to which employees contribute a portion of their salary. Some employers may match employee contributions, and some may add a profit-sharing option to the plan. In a Traditional 401k, contributions are taxed upon withdrawal, while in a Roth 401k contributions are post-tax.

Can be issued by a 501(c)(3) organization to finance activities related to the exempt purposes of the organization. Provides nonprofits with the option of developing residential rental housing without the strict set-aside restrictions of exempt-facility bonds.

Nonprofit with tax-exempt fiscal status. Criteria include organized and operated exclusively for religious, charitable, scientific, public safety or educational purposes, no substantial part of the activities of which is carrying on propaganda or otherwise trying to influence legislation or political elections, nor from which any private shareholder or individual inures benefit. Can offer tax deductions for contributions.

Civic league organization created, for example, for the promotion of social welfare or organization of employees. Net earnings are devoted exclusively to charitable, educational or recreational purposes. No tax deductions offered for contributions. No prohibition of political activity.

Activities are not charitable, contributions are not tax deductible, and there is no prohibition for political activity. Examples include chambers of commerce, business leagues and real estate boards.

Temporary suspension of title to property before correct owner is determined.

A property owner that rents out property, but does not reside in the property's local economic region and/or does not attend to the property adequately.

Title to property without any conditions or clouds. Usually critical to the granting of a mortgage by a bank.

A summary of the public records relating to the title to a particular property. The abstract identifies encumbrances, easements and covenants that affect the property. Also known as a Title report. See also Title search.

Building or land that abuts, joins, or is contiguous at a border or boundary.

For tax purposes, rate of depreciation in excess of straight-line depreciation.

Erosion that exceeds what is presumed or estimated to be naturally occurring levels, and which is a direct result of human activities such as cultivation and logging.

A provision in a mortgage giving the lender the right to demand payment of the entire outstanding balance upon the happening of an event, such as the sale of the property or a delinquency in the repayment of the note.

Right of an owner or a person with the owner's approval to enter and leave a property without obstruction.

A living quarter within a single family home that functions as a separate and complete unit and includes a private kitchen and bath. Also known as a Granny flat and In-law unit.

The use of a building, structure, or land in a way that is complementary or subordinate to its original or traditional use.

Record of all transactions affecting a particular phase of a financial institution, expressed in debits and credits, evaluated in money and showing the current balance, if any.

Sets up an accounting system for the project to track and report income and expenses.

Method of accounting that records all income and expenses in the ledger whether they are paid or not.

Amount owed to a creditor, not necessarily due or past due.

Amount owed to a business by its customers, not necessarily due or past due.

An increase in property as a result of an act or process of nature and without cost to the owner (e.g., land increase due to a change in the course of a stream).

To gain or profit by; to accumulate or grow.

An accounting indicator that adds cash, marketable securities and accounts receivable, and divides the total by the sum of current liabilities. This is a conservative measure of an organization's ability to meet near-term obligations. Also known as Current ratio, Liquid ratio, and Quick ratio.

Activities first center on completion of the transfer of the property to the nonprofit. Next, the sponsor undertakes construction or rehabilitation.

Short term loan that matures or must be paid back in 12 to 18 months.

Steps to the final purchase of a property. Involves payment by the purchaser of the acquisition price, signing of the deed of conveyance of the property by the seller, and recording of that deed among the land records of the jurisdiction in which the property is located. Also known as a Settlement.

Document that details all income and expenses connected with the final purchase (settlement) of a property. Also called a Settlement statement.

The method of adapting old structures for new uses in an effort to conserve land and reduce sprawl.

Accommodations that provide adequate heating and plumbing, are not overcrowded, are not in a state of disrepair, and are not hazardous to the occupant's health and safety.

Two or more parcels of land that are nearby but not necessarily adjoining.

Two or more parcels of land that share a common border.

Interest rate that changes periodically over the life of a loan.

Household living expenses that can be changed, such as the cost of groceries, utilities, telephone.

Loan whose terms include an interest rate that is adjusted over time to a specified index.

A measurement used to determine eligibility based on annual income and allowed deductions for qualifying expenses and circumstances. Often used by government and other institutions providing some form of assistance.

A lender's recalculation of the remaining periodic payments needed to repay the debt.

All direct and indirect costs associated with management and supervision of a program. Qualifying activities vary according to funding sources.

Remedial education for those without mastery of the basic skills needed to succeed in the labor market and who have not received a high school diploma or its equivalent. Often this is used to assist people in retaining employment necessary for independent adult living by enhancing their written and verbal communication skills as well as their basic mathematical reasoning.

A method of land acquisition by possession for a certain length of time under particular conditions.

A plan or program designed to remedy the effects of past discrimination of ethnic minorities and women in employment, education or other activity, and to prevent its recurrence.

Housing which costs the occupant no more than 30 percent of the occupant's income. Determination of affordability varies by geographic location.

Relationship between principal and principal's agent that arises out of a contract, whether expressed or implied, written or oral, wherein the agent is employed by the principal to perform specific activities dealing with a third party.

Classification of amounts customers owe to a business showing the portion that is current and the portion that is past due, including the number of days past due.

A large-scale business involved in most, if not all, aspects of food production. Often another term for corporate farming, it can also be used to simply describe the food industry generally.

The rights of a developer for the empty air space above its property.

In a construction bid, the stated amount to be added or deducted from the amount of the base bid if the corresponding change in the work, as proposed in the bidding documents, is accepted. Utilized by an owner to evaluate the financial impact of various construction alternatives.

A mediation technique for disagreeing parties to come to an agreement without having to resort to litigation. Some courts prefer ADR to avoid the time and expense of trials.

A federation of national and international labor unions.

Sets national standards and standardized document forms to be used to secure title to a property.