Base Section Good equipment of scale equivalent to step 1/100th of just one % which is typically included in quoting changes into the interest rates otherwise yields indebted bonds together with mortgages.
Mixed Costs The occasional mortgage repayments of dominant and you may appeal where brand new payments will always be ongoing during the number, whilst portions related to prominent and you can attract vary which have for each and every commission due to the fact big date elapses throughout the amortization period.
Panel Meeting (Condominiums) A meeting of which just the Board off Administrators gathers to help you target the fresh points of the condominium corporation. not, should your Panel out of Directors utilizes one advisors (e.g. condo manager), they can be questioned to visit. Board group meetings are present during the continuously arranged periods. Select also Panel of Directors.
Debtor The brand new cluster whom gets investment away from a lender on the agreement that it’ll getting paid down, that have appeal, within an exact timeframe
Board from Directors (Condominiums) A small grouping of those who are decided to go with by product residents to perform the requirements and you may obligations of condo business according on the laws and procedures put down regarding the bylaws and you can governing rules of your condominium. Pick plus Condo.
elizabeth. doing 12 months) having a high interest intended to cover immediate cash standards up until permanent funding try secured. Get a hold of plus Meantime Money.
Broker The person approved by the A residential property Council of Alberta to hold the category out of agent while the laid out regarding the Alberta Home Act. The new representative is in charge of the fresh procedure of the brokerage and you may this new oversight of all its staff. The latest broker must be inserted on the brokerage he or she protects so you’re able to trade in a property or package in the mortgage loans. Indeed there can only just feel one broker for each and every brokerage. Look for and Brokerage.
Broker Subcontract An industry top-notch within a brokerage that is tasked to address lots of broker responsibilities and you may requirements just like the specified by representative. Look for along with Agent.
Broker The company, union or sole proprietorship subscribed because of the A house Council from Alberta due to the fact a real property brokerage registered so you’re able to trade-in genuine property or mortgage broker licensed to work in the mortgage loans. An agent need to have a brokerage accountable for their process. Find also Broker.
Builders’ Lien A beneficial lien with the outstanding value of works and you can/or content towards the latest team whom did the task to the, or offered the material to help you a home, in accordance with the Builders’ Lien Operate. Discover including Builders’ Lien Operate.
Builders’ Lien Act Alberta legislation that enables registration of a beneficial lien facing a house because of the anyone involved in the strengthening off, or developments so you’re able to, that property, in addition to gurus, contractors, and sandwich-designers.
Bridge Financing Financing of small cycle (i
Building Codes Provincial requirements on build, build, and you will customization off houses so that the protection from coming residents and you will men and women to the latest premises. Alberta Building Password manages the building and you will shelter from structures to possess both dated and you can the latest property. Criteria set by Codes were electric wiring, flame alarm systems, flames extinguishers, emergency pathways, occupancy limits, lighting, and you can ventilation. These rules exists in addition to the criteria of your own Civil Belongings Play with Bylaw.
Strengthening Structure A core element of a developing you to proceed the link now definitely gets involved inside to make a safe, match and comfortable environment to possess occupants.
Strengthening Enable the authoritative permission provided by a local government for brand new design or modification from a preexisting design. See together with Development Permit.
Strengthening Program A key part of a building one to possibly adds towards creation of the entire design or gets involved to make a smooth indoor ecosystem for occupants.
