BUILDING CODE

Laws specifying the type, kind, area and manner of construction of buildings and prohibiting construction or repair of buildings in violation of such specifications. (See Zoning Ordinances)

BROKER

One who acts as an agent for another in negotiating sales or purchases in return for a fee or commission.

BOND

(1) A written promise to pay to the bearer or owner a stated sum of money at a specified time, with interest usually represented by interest coupons attached to the bond. Coupons may be clipped as they mature and presented for payment. Bonds are sometimes in the form of Certificates of Indebtedness. Bonds are often[…]

BLANKET MORTGAGE

A mortgage which covers all of a class of property or all of the property of the mortgagor. For example, railroads sometimes give mortgages on all of the cars and locomotives they presently own, or acquire in the future, without specifically describing them. Or they may give a mortgage on all the assets of the[…]

BINDER

(1) Sometimes called “Preliminary Certificate,” it’s a preliminary report on the condition of a title and a commitment to issue a title insurance policy in a certain manner when certain conditions are met. (2) A deposit in escrow of a small part of the purchase price of real estate as evidence of good faith and[…]

BENEFICIARY

A person who is entitled to receive funds or property under the terms and provisions of a will or trust or insurance policy.

BAR

(1) The attorneys at law, taken collectively in a municipality, county, state, or the nation. (2) To defeat or prevent.