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LITTORAL LAND Land bordering on the shore of a sea or ocean and thus affected by the tide currents. SHOPPING CENTER A modern classification of retail stores, characterized by off-street parking and clusters of stores, subject to a uniform development plan, and usually with careful analysis given to the proper merchant mix. TRUST FUND ACCOUNT An account set up by a broker at a bank or other recognized depository, into which the broker deposits all funds entrusted to him by his principal or others. ABSORPTION RATE An estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied each year. RETALIATORY EVICTION An act whereby a landlord evicts the tenant in response to some complaint made by the tenant. DECLARATION OF RESTRICTIONS A statement of all the covenants, conditions and restrictions ("CC&R's") which affect a parcel of land. MORTGAGE BROKER An individual or company that arranges financing for borrowers. |
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