Cement Plaster to Chapter 11 Bankruptcy
Cement Plaster
Cement plaster is a type of plaster containing Portland cement, a type of hydraulic cement.
Central Business District
The main commercial area of a municipality is called the central business district. This normally refers to a city’s downtown area and is often used to classify the location setting of prime commercial properties.
Central Heating System
As opposed to space heating, a central heating system generates heat for multiple rooms from one central area (such as a furnace or mechanical room) and then distributes that heat to the different rooms. Central heating systems distribute heated heat in two ways: gravity circulation and forced action. Gravity circulation is usually with hot water or steam, while forced action employs forced air. It’s usually part of the HVAC (heating, ventilation and air conditioning) system of large buildings, especially older ones, although many homes also use central heating. A larger version of central heating is district heating, in which the heat for multiple buildings is generated in one separate building.
Ceramic Tile
Made of baked clay, ceramic tiles are high-quality tiles used for floors, walls and roofs. Although very strong and sturdy, they are also prone to chipping and cracking.
Certificate of Eligibility
The certificate of eligibility is a document given to qualified veterans, which entitles them to VA-guaranteed loans for homes, business, and mobile homes. Certificates of eligibility may be obtained by sending DD-214 (Separation Paper) to the local VA office with VA form 1880 (request for Certificate of Eligibility).
Certificate of Insurance Coverage
The certificate of insurance coverage is a formal notice provided by an insurance company or agent identifying the coverage terms of an insurance policy.
Certificate of Occupancy
Newly constructed or improved buildings normally require this certification from the local government, indicating that the building satisfies all local requirements for occupancy. Sometimes called an occupancy permit, this is commonly handled by seller or developer, and is provided prior to or at the closing. The building inspector will have to inspect the completed property to ensure that it is habitable.
Certificate of Reasonable Value (CRV)
The certificate of reasonable value is the lender’s appraisal of a property’s value, estimated and prepared according to the Veterans Administration (VA) requirements.
Certificate of Sale
The certificate of sale is documentation given to winners of a foreclosure sale that entitles the winner to obtain the title to the subject property, after the redemption period has passed.
Certificate of Sale Policy
The certificate of sale policy is a type of title insurance policy that protects property owners purchasing title to real estate at a court sale.
Certificate of Title
The certificate of title is a type of title evidence that is issued by a title examiner after a review of the public records. A certificate of title offers no protection against any hidden defects in the title which an examination of the public records could not reveal. The issuer of a certificate of title is liable only for damages due to negligence. The protection offered a homeowner under a certificate of title is not as great as that offered in a title insurance policy.
Certificate of Veteran Status
The certificate of veteran status is the document given to veterans or reservists who have served 90 days of continuous active duty (including training time) It may be obtained by sending DD 214 to the local VA office with form 26-8261a request for certificate of veteran status.
Certified Property Manager (CPM)
The CPM is a designation awarded by the Institute of Real Estate Management to experienced and professional property managers.
Chain
A chain is a surveying term used to measure land. One chain length is equal to 66 feet or four rods, which contains 100 links.
Chain of Title
The sequence of title ownership for a real estate property is called the chain of title. The local property records office records all owners of a property. When the title deed is investigated (as preparation for the closing), the title company will sometimes review the chain of title to ensure against potential title problems. The chain of title lists each transfer of ownership for a property, in chronological and legal order, going back to the initial creation of the parcel of property.
Chair Rail
A chair rail is a molding that divides a room’s walls into upper and lower halves. The chair rail circles the room at a height of about 32 inches, usually at the top of the wainscot panel. The chair rail is meant to protect the wall from scuffs caused by chairs, although they are now mostly decorative.
Chalet
Although chalets originally referred to the Alpine huts used by dairy cattle herders, Switzerland’s post-war emergence as a vacation destination for European and American elites soon saw the transformation of those huts into vacation homes for skiers and hikers. The main features of a chalet are shallow, sloping roofs and very wide eaves. The term chalet is often used to refer to vacation homes, especially mountainside homes.
Chalet Bungalow
A chalet bungalow is a type of bungalow with gently sloping roofs, similar to traditional chalets. Chalet bungalows typically come with a second story loft, which is often used for storage or open air, although some lofts are used for extra bedrooms.
Change Date
See the Anniversary Date entry.
Change Order
The change order is a change or modification to the construction agreement or plans. This is typically signed by both the contractor and the owner (and/or architect or construction manager).
Change Principle
The change principle is a concept used in the appraisal of real estate that assumes that everything changes, both the physical elements of a property and economic conditions of the market. Similar principles that are taken into consideration when appraising real estate are the principles of anticipation, competition, conformity and surplus productivity.
Channeling
Commonly called “steering,” channeling is the illegal practice of directing prospective homebuyers and tenants away from certain areas or toward other areas. Channeling was often used in the past to support segregation and discrimination. Today, some steering still happens, albeit not always consciously, when real estate agents suggest properties in neighborhoods that are predominantly the same race or income bracket as the home buyer.
Chapter 11 Bankruptcy
A Chapter 11 Bankruptcy is a type of bankruptcy procedure for businesses, which allow for court-supervised reorganization of the businesses debts, assets and cash flow.
