Set of plans for construction work of a building or project, defining the precise manner and specifications of building activity for contract purposes.
Written-Down Value
Book value of a property after taking depreciation and amortization into consideration.
X
An illiterate or physically disabled person who cannot write can make this notation or put a thumbprint to express his inability but intention to sign a deed or a will.
Xystus
Covered walkway bordered by trees that are a prominent feature of Romanesque gardens.
Yield
The interest earned by an investor, stated as a percentage of the investment amount.
Yield Up
Giving up possession of the property, e.g., the tenant yields up the apartment at the end of a lease.
Zone
An area marked for specific use, such as commercial zone or residential zone.
Zoning
Local authorities responsible for city planning, allocate areas for specific uses and activities to promote orderly development. Private owners of the land are required to comply with the zoning classification while developing their property.
Zoning Ordinance
Set of laws and regulations that control the land use or construction activities in a given area. A typical zoning ordinance includes:
• Statement of purpose
• Various zoning classifications and permitted land uses and construction activities within each
• Restrictions such as limitations on height of the building and lot coverage
• Procedures to handle non-conforming uses, hear appeals, variances, and grant amendments
• Penalties that can be imposed for violating the ordinance
Zoning Variance
An official permission to make an exception to zoning restrictions on land uses or construction activities.
