Crenellation to Cybertecture

 

Crenellation

See the Castellated entry.

Creosote

The compound creosote is a chemical found in fireplaces, chimneys and other areas where wood is regularly burned. Creosote is a flammable substance that may also pose health hazards for homes with insufficient ventilation.

Cripple

In home construction, a cripple is any part, usually of a stud element, that is cut less than the full length. Cripples are most often found beneath windows and roofs.

Critical Care Facility

In the senior residential arena, a critical care facility is a type of residential property that is designed primarily for senior citizens, who need advanced nursing care. A full-time physician may be on staff.

Cross Bridging

The cross bridging method uses connecting braces across beams or studs. The cross bridging is meant to provide additional support and stability to the structure.

Cross Collateralization

In real estate finance and investing, cross collateralization is a strategy of using two or more properties as collateral for a loan, or using the same property (or portfolio of properties) as collateral for multiple loans. For example, a business owner seeking an aggressive commercial loan may allow the lender to place a lien on other properties owned by the business owner, in addition to the placing a lien on the business property.

Cross-Default Clause

With large agreements and contracts that contain multiple smaller agreements and provisions, a cross-default clause will trigger a total default of all agreements if even just one of the agreements or provisions is in default. In real estate, assembled properties will often have multiple mortgages, leases or easements. A default in any one of the assembled elements may trigger a default of the entire agreement. Many second or junior mortgages have such default clauses, enabling them to accelerate payments and push for a foreclosure if the borrower defaults on the first mortgage.

Cross-Laminated Timber

A type of engineered wood product, cross-laminated timber (CLT) is a paneling product used for floors, walls and roofs. CLTs are manufactured with various layers, glued together, and each layer is positioned at right angles to the adjacent layers, so as to give the panel more rigidity and strength.

Crown Molding

The crown molding is the trim work fitted at the joint where the wall meets the ceiling. See also the Trim entry.

Cubage

The term cubage refers to the measure of the total three-dimensional space within a unit or structure. In plain English, it is the cubic feet of space in a property. Warehouse and clear span facilities are particularly concerned about cubage, because it takes into account usable room height.

Cubic Foot Method

The cubic foot method is used to estimate construction, reproduction and replacement costs that is similar to the square foot method, but applies the cubic foot measurement. The cubic foot costs of similar properties and multiplies that rate by the volume of the subject property. Other methods include the square foot, unit in place, quantity survey and index methods.

Cul de Sac

A street, lane or road that dead ends, usually in a circular or semi-circular section.

Culvert

A culvert is a conduit or instrument used to control or divert the flow of water. Culverts are most commonly seen under roadways, railroads, driveways and embankments that cross or are alongside a ditch or water-collection channel. Typically made of steel, concrete, PVC or even rubber, culverts allow water to flow beneath the obstruction, instead of swamping it.

Cumulative Discount Rate

With leases on commercial properties, the cumulative discount rate is the interest rate that is used when calculating the present value of a long-term lease. For example, what is the present worth of a ten-year lease with escalating rents that start at $10,000 the first year and conclude at $40,000 the last year. Remember that a dollar today is worth more than a dollar next year, and much more than a dollar a decade away. The discount rate considers the base rent, as well as all landlord concessions. It helps to determine the amount of financing that the landlord may be able to get today. For example, if a 20-year lease has a present value of only $150,000, the developer can use that lease as collateral for a loan to build or build out the proposed rental property.

Cumulative Zoning

The cumulative zoning method is one in which each successive type of zones is less restrictive than the previous. For example, in a cumulative approach, residential zones allow only residential uses, while commercial zones may allow both residential and commercial uses. Non-cumulative zones keep a stricter separation between different types of uses.

Cupola

A cupola is a dome (or dome-like structure) that usually tops a roof or dome.

Curable Depreciation

In real estate, curable depreciation refers to the deterioration of a property that can be corrected with a cost that does not exceed the projected increase in property value. Unlike incurable depreciation, curable depreciation does not entail diminishing returns.

Curb Appeal

In real estate, curb appeal is the first-impression aesthetic image projected by a property.

Current Yield

With commercial mortgage-backed securities (CMBS), the current yield is the coupon divided by the price of the security.

Curtain Wall

The curtain wall is an enclosing but non-supporting exterior wall.

Curtesy

The curtesy is a form of legal life estate practiced in certain states that recognizes a husband’s life estate interest in the property of his deceased wife. Compare this with the wife’s dower rights. Neither the dower nor curtesy rights can be transferred or assigned, although they can be released if both spouses sign a deed of conveyance.

Custom Builder

The custom builder is a general contractor or builder who constructs customized homes or buildings for the owner. Some custom builders will already own and market the land to homebuyers who want a custom home, while other custom builders are hired by homebuyers who already own the land.

Custom Home

The custom home is a specially designed (and built) home, typically with a design that is different from neighboring homes.

Custom-Built Home

See the Custom Home entry.

Cybertecture

Cybertecture is a recently introduced term referring to cybernetic architecture.