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SHOPPING CENTER A modern classification of retail stores, characterized by off-street parking and clusters of stores, subject to a uniform development plan, and usually with careful analysis given to the proper merchant mix. GROSS INCOME MULTIPLIER A useful rule of thumb to estimate market value of income producing residential property. The multiplier is derived by using comparable sales divided by the actual or estimated monthly rentals and arriving at an acceptable average. HYPOTHECATE To pledge specific real or personal property as security for an obligation, without surrendering possession of it. CHAIN OF TITLE The chronological order of conveyance of a property from the original owner to the present owner. PARCEL A specific portion of a larger tract; a lot. |
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