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MILITARY CLAUSE A clause inserted in some residential leases to allow the military tenant to terminate the lease in case of transfer, discharge or other circumstances making termination appropriate. SURVEY The process by which boundaries are measured and land areas are determined; the on-site measurement of lot lines, dimensions, and position of houses in a lot including the determination of any existing encroachments or easements. PROPERTY The rights or interests a person has in the thing owned; not, in the technical sense, the thing itself. These rights include the right to possess, to use, to encumber, to transfer and to exclude, commonly called the "bundle of rights." TAKE-OUT FINANCING Long-term permanent financing. GOOD FAITH Bona fide. An act is done in good faith if it is in fact done honestly, whether it be done negligently or not. |
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