Home Improvement Lowe,

POINTS (OR DISCOUNT POINTS)
Points are an up-front fee paid to the lender at the time that you get your loan. Each point equals one percent of your total loan amount. Points and interest rates are inherently connected: in general, the more points you pay, the lower the interest rate you get. However, the more points you pay, the more cash you need up front since points are paid in cash at closing.

SHORELINE
The dividing line between private land and public beach on beachfront property.

EXECUTIVE
The act of making a document legally valid, such as formalizing a contract by signing, or acknowledging and delivering a deed.

PRINCIPAL
The capital sum; interest is paid on the principal. NOT spelled principle.

TIME IS OF THE ESSENCE
The clause in a contract which emphasizes that punctual performance is an essential requirement of the contract.

REAL PROPERTY
Land and any improvements permanently affixed to it, such as buildings.

CHAIN OF TITLE
The recorded history of matters which affect the title to a specific parcel of real property, such as ownership, encumbrances and liens, usually beginning with the original recorded source of the title.

INCOME PROPERTY
Property purchased primarily for the income to be derived plus certain tax benefits, such as accelerated depreciation. Income property can be commercial, industrial or residential.

KIOSK
A small structure usually constructed of wood with one or more sides open and typically used as a newsstand, photo film center or ice cream stand.

NON-COMPETITION CLAUSE
A provision in a contract or lease prohibiting a person from operating or controlling a nearby business which would compete with one of the parties to the contract.