Term
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Definition
Apartment Complex
Condominium
Cooperative
Planned Unit Development
Retirement Communities
High Rise Development
Converted-Use Property
Manufactured housing
Modular Homes
Time Share
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Term
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Definition
| Groups of apartment buildings with varying number of units in each building |
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Term
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Definition
| For people who want the security of owning property without the care and maintenance that a house demands. |
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Term
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Definition
| Units that share common walls a facilities within a larger building |
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Term
| Planned Unit Development(PUD) |
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Definition
| Merge such diverse land uses as housing, recreation, and commercial units into one self contained development. Owners do not have direct ownership in common areas |
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Term
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Definition
| Often structured as a PUD. They may provide shopping, recreational opportunities, and health care facilities in addition to residential units |
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Term
High - Rise Development
(Mixed Use Development (MUD)) |
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Definition
| Combine office space, stores, theaters, and apartment units into a single vertical community. |
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Term
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Definition
| Factories, warehouses, office buildings, hotels, schools, barns, churches, and other structures that have been converted to residential use. |
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Term
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Definition
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Term
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Definition
| Each room in a modular home is preassembled in a factory, driven to a building site on a truck, and then lowered into it's foundation by a crane. |
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Term
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Definition
| Multiple purchasers share ownership of a single property, usually a vacation home or resort property. |
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Term
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Definition
Principal
Interest
Taxes
Insurance |
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Term
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Definition
| Federal Housing Association |
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Term
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Definition
| Department of Veteran Affairs |
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Term
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Definition
| The most common home owner's insurance policy |
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Term
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Definition
| For injuries or losses sustain within the unit |
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Term
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Definition
| Comprehensive Loss Underwriting Exchange |
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Term
| The National Flood Insurance Act of 1968 |
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Definition
| Help owners of property in flood prone areas |
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Term
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Definition
| The Federal Emergency Management Agency |
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