Professional Documents
Culture Documents
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WORDS
Terms
WORDS
WORDS
Terms
WORDS
WORDS
Terms
An Information Resource
By Ted Thomas
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
DISCLAIMER
This publication is intended to provide accu- However, this is a dynamic field of endeavor
rate and authoritative information with regard in which new laws are enacted, old laws re-
to the subject matter covered. It is offered vised and/or interpreted on a continuing ba-
with the understanding that neither the pub- sis. Readers are advised to proceed with cau-
lisher, nor the author is engaged in rendering tion before implementing the strategies con-
legal, accounting or professional services. If tained herein and consult with appropriate pro-
legal advise, or expert assistance is required, fessional advisors prior to committing time and
the services of a competent professional per- financial resources as a result of the material
son should be retained. contained in this book or in the seminar from
Every effort has been made to reflect accurate which it was obtained. It is for instructional
information. purpose only.
Ted Thomas
Jones & Trevor Marketing
3525 N. Courtenay Pkwy Suite B
Merritt Island, Florida 32953
A ................................................................... 7
B ................................................................. 27
C ................................................................. 43
D ................................................................. 75
E ................................................................. 91
F ............................................................... 101
G............................................................... 117
H ............................................................... 129
I ................................................................ 137
J ............................................................... 149
K ............................................................... 155
L ............................................................... 157
M .............................................................. 171
N ............................................................... 185
O............................................................... 191
P ............................................................... 197
Q............................................................... 212
R ............................................................... 215
S ............................................................... 231
T ............................................................... 253
U ............................................................... 265
V ............................................................... 271
W .............................................................. 275
X ............................................................... 280
Y ............................................................... 281
Z ............................................................... 281
AD HOC - Latin meaning “for this.” AD LITIM - (For the suit.) A guardian
For single purpose only. “Ad Litum” prosecutes or defends a
A ADJACENT - Close to. May or may suit for a minor or incompetent.
not be contiguous (touching). ADMINISTRATOR - A person given
ADJOINING - Touching or authority by a proper court to
contiguous to. manage and distribute the estate of
a deceased person when there is
ADJUDICATION - A judgment or no will. (See also: Administrator
decision by a court. C.T.A.)
ADJUSTABLE MORTGAGE ADMINISTRATOR C.T.A. -
LOANS (AML’S) - Mortgage loans Administrator when there is a will
under which the interest rate is but no executor is named or the
periodically adjusted to executor named is unable or
more closely coincide unwilling to serve. The C.T.A.
with current rates. The stands for Cum Testamento Annexe
amounts and times (with the will attached).
of adjustment are
agreed to at the ADMINISTRATOR’S DEED - A deed
inception of the issued by the administrator of an
loan. Also called Adjustable estate. (See: Administrator.)
Rate Loans, Adjustable Rate ADMINISTRATRIX - Female
Mortgages (ARMS), Flexible Rate administrator.
Loans, Variable Rate bans. (See ADOBE CONSTRUCTION - A
also: Indexing, Rate Index.) structure built of adobe blocks.
ADJUSTABLE RATE LOANS - Adobe blocks are made from adobe
(See: Adjustable Mortgage Loans.) mud mixed with straw or a straw-
ADJUSTED GROSS INCOME - like substance, and then baked.
Gross income of a building if fully Considered a very good but
rented, less an allowance for expensive material.
estimated vacancies. ADR (THE CLASS LIFE ASSET
ADJUSTED MORTGAGE - A DEPRECIATION RANGE
mortgage released after a company SYSTEM) - A flexible set of
has undergone reorganization. guidelines for depreciation which
sets up an “asset depreciation
ADJUSTMENTS - (See: Proration.) period,” rather than using the
“useful life” of an asset.
AIR RIGHTS - The right to the use of ALLEY - A narrow right of way, either
the air space above property public or private,
A without the right to use the surface
of the property. However, air rights
used for access
(usually to
may restrict surface rights, garages, loading
especially height of improvements. platforms, etc.).
AKA, ALSO KNOWN AS - A fictitious
or assumed name. (See: Alias) ALLEY INFLUENCE - In appraising,
ALCOVE - A recessed part or the effect upon value of a property,
addition to a room. because of an adjoining side or
rear alley.
ALIAS - Latin for “otherwise.”
Commonly meaning that a person ALL-INCLUSIVE DEED OF TRUST
is known by more than one name. - (See: Wrap-Around Mortgage.)
In some states, indicated by the ALLODIAL TENURE - (See:
letters AKA (also known as). Allodium.)
ALIENATION - Transfer of property ALLODIUM - Land owned by
from one owner to another. individuals, as opposed to the
ALIENATION CLAUSE - A type of feudal system of ownership of all
acceleration clause, calling for a land by a king or ruler.
debt under a mortgage or deed of ALLOTMENT - A small parcel of
trust to be due in its entirety upon land, sold or given to a farm worker
transfer of ownership of the secured for cultivation as a supplementary
property. Also called a “due-on-sale source of income. Popular in the
clause.” 1900’s before World War II.
ALKALI - The chemical opposite of ALLUVION (ALLUVIUM,
acid. Heavy concentrations of ALLUVIAL) - Deposits formed by
alkaline salts in soil may damage accretion.
crops.
A.L.T.A. (AMERICAN LAND TITLE
ALKALINE SOIL - Soil which has an ASSOCIATION) - An organization,
alkali, rather than an acid, base. composed of title insurance
ALLEGATION - The assertion or companies, which has adopted
statement of a party to an action. certain insurance policy forms to
Setting forth that which one expects standardize coverage on a national
to prove. basis.
ARTESIAN WELL - A well bored into ASKING PRICE - The price at which
a subterranean body of water, the seller is offering property for
which, being under pressure, rises sale. The eventual selling price may
naturally to the surface without be less after negotiation with a
artificial pumping. buyer.
ASPECT - The position or direction
of the face of a slope or structure,
such as a southern aspect or
exposure.
For Information
26
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B
BACKFILL - To replace ground BALLOON - (1) The final payment of
removed by excavation for a balloon note (see which). (2) A
construction. Used to brace a landlocked parcel of land.
structure (especially a foundation or
footings).
BALLOON FRAMING - A type of B
framing for a two story building by
BACK TITLE LETTER - In states which the studs extend
where attorneys examine titles for from ground to roof, the
title insurance purposes, this letter is second floor being
given by a title insurance company supported by nailing
to an attorney, giving to said attorney the horizontal supports
the condition of title as of a certain (joists) to the studs
date. The attorney then begins his and by the use of
examination as of that date. Also ribbon or ledger board.
called a starter or back title
certificate. (See also: Starter.)
BALLOON NOTE - A
BACKUP OFFER - A secondary offer note calling for periodic
to buy property, used in case the first payments which are insufficient to
(primary) offer fails. A backup offer is fully amortize the face amount of the
especially useful when the primary note prior to maturity, so that a
offer contains difficult contingencies. principal sum known as a “balloon”
BACKWATER - Water in a stream or is due at maturity
river which, because of a dam or BALTIMORE RULE - An appraisal
other obstruction, is stopped in its method for setting a value on a
course or flows back toward its corner lot. The lot is appraised as an
source. inside lot for its front footage on both
BACKWATER VALVE - A valve set in streets. The two values are then
a lateral sewer line which added to find the value of the corner
automatically prevents sewage from lot. For example: Lot 1 fronts 100' on
flowing back to its source (a street A and 100' on street B. The
building). value of 100' inside lot on street A is
BALANCE SHEET - A statement of added to the value of a 100' inside
the assets and liabilities of a lot on street B to find the value of lot
company to determine its net worth 1. Also called the Bernard Rule.
(equity).
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 27
3001 TERMS THAT EARN & WORDS THAT WORK
A should receive $ 1.00 per sq. ft. for BENEFICIAL INTEREST - The
the property taken plus $.25 per sq. equitable, rather than legal
ft. for the remaining parcel. In the ownership of property, such as
event the remaining property is under a land contract.
worth $1.25 after the taking
(increased value), the payment to A
BENEFICIAL USE - (1) The doctrine,
applicable in some areas, pertains
B
could be less than the value of to water rights, giving priority to
property. (2) In remodeling, an those who would use the water
appraisal is made before and after most beneficially. (2) The giving of
to determine if the value increased the right of usage but not
more than modernization costs. ownership.
BELT HIGHWAY - A limited-access BENEFICIARY - (1) One for whose
highway carrying traffic around an benefit a trust is created. (2) In
urban area, with entrances and states in which deeds of
exits to principal streets. Also called trust are commonly used
a bypass. instead of mortgages,
the lender
BELVEDERE - (See: Gazebo.) (mortgagee) is
called the
BENCH MARK - Surveying mark beneficiary.
made in some object which is
permanently fixed in the ground, BENEFICIARY’S DEMAND - Written
showing the height of that point in instructions by a beneficiary under a
relation to sea level. Used in deed of trust stating and demanding
topographic surveys and tidal the amount necessary for issuance
observations. of a reconveyance, whether a full or
partial amount.
BENEFICIAL ESTATE - An estate,
the right to possession of which has BENEFICIARY’S STATEMENT - A
been postponed, such as a devise statement by a lender under a deed
under a will. More commonly, an of trust, setting forth the pertinent
estate, the legal ownership of which information necessary to assume
has not yet vested, as under a land said deed of trust, such as the
contract. An equitable estate. unpaid balance, monthly payment,
and interest rate.
Ted Thomas’ TM
Quiet Time
Daily, you must think and mind storm ideas - thoughts. Sit quietly by yourself. Think -
No radio - No T.V. - No disturbances or interruptions. Seek solitude and a peaceful time
by yourself, so you can think. Focus on solutions. Put your mind to work... Challenge
your mind to find answers... Boost your vocabulary so you’ll have more tools to work
on the problem. Read, “Create Your Own Future” by Brian Tracy.
A “Creating Wealth Special Report” from Ted Thomas & Jones & Trevor Marketing Ph.: (321) 449-9940 - Fax: (321) 449-9938 © 2004
42
C
CABINET WORK - Any interior CALL - (1) In metes and bounds
carpentry which will be seen and description, the angle and distance
must be finished with skill and care. of a given line or arc. Each call is
One who does this work is called a usually preceded by the word “then”
cabinet maker or, more commonly, a or “thence; Example: N 22% E 100'
finish carpenter. (1st call), thence N 80% E 100' (2nd
CADASTRE - Inventory of real
property in a community for tax and
call). (2) To demand payment due to
default. Also used when a loan
C
assessment purposes. payment is not large enough to
amortize the loan. Example: A
C.A.E. (CERTIFIED ASSESSMENT mortgage payment requiring 20
EVALUATOR) - An assessor who, years to pay in full but for a term of 5
through the completion of required years would be referred to as a 20-
courses, experience, and year amortization with a 5-year call.
examinations, has earned this
designation by the International CALL DATE - Originally a term used
Association of Assessing Officers. when a bond is redeemed prior to
maturity, it is now also used in
CAISSON - A watertight chamber in describing mortgages. (See: Call
which men work underwater, or in an [2].)
open excavation where loose soil or
sand could cave in on the workers. It CALL LOAN - A loan payable upon
may also be filled with concrete after demand.
it is used, and become a support. CAL-VET LOANS - Real estate loans
CALIFORNIA RANCH available to armed forces veterans
ARCHITECTURE - A sprawling, one from California, at low interest rates.
story, ranch-style building, lending CAMBER - A slight bending or arching
itself to interior flexibility in floor plan to a convex angle. Used to prevent
design. beams, girders, flooring, ship decks,
timbers, and similar load-bearing
members, from taking a concave
shape.
CAMINO - A Spanish word meaning
highway.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 43
3001 TERMS THAT EARN & WORDS THAT WORK
CAMPANILE
CANAL - (1) A man-made
waterway used to connect other and connecting each other or
bodies of water for a suspended span.
navigation. (2) An irrigation CAP - (1) The maximum increase of
waterway. an Adjustable Rate Mortgage.
CANCELLATION CLAUSE Example: The original loan is made
C - A clause in a lease or other at 10% with a 5% cap. The interest
rate on the loan may not exceed
contract, setting forth the conditions
under which each party may cancel 15% regardless of index changes.
or terminate the agreement. The (See: Adjustable Mortgage Loans.)
conditions may be as simple as (2) A fitting used by a plumber to
giving notice or complex and seal (cap) a pipe end. (3) A cornice,
require payment by the party lintel, or top of a structural member
desiring to cancel. such as a column.
CANDLE - A measure of light, being CAPACITY - One’s ability to carry on
the luminous intensity of a 7/8 inch normal business transactions. Lack
sperm candle burning at 120-grains of capacity may be natural
per hour. An international candle is (unsound mind) or simply by law (a
based on the burning of platinum. minor). Restrictions may be full or
partial.
CANDLE HOUR - A measure of light,
equal to one candle burning for one CAPE COD HOUSE - An adaptation
hour. of the New England cottage. May
be one or two stories with sloping
CANDLE POWER - The intensity of
roof, usually with dormer windows,
a light, expressed in candles.
cornices, and frame painted white.
CANTILEVER - A structural support
CAPITA - Literally, heads.
which itself is supported at one end
Commonly, persons, individuals.
only and bears its load through its
(See also: Per Capita.)
material strength and rigidity.
CAPITAL - Money used to create
income, either as investment in a
business or income property.
CANTILEVER BRIDGE
CELLAR
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Bob and Kitty Kokott own a family restaurant. They each Bill and Jan Leon of South Florida started 13 years ago
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A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938 73
Competitive Advantage Report
...continued from previous page
The Perfect Market this opens the door for negotiation. Motivation of
the seller is a major factor. Move slowly and get to
The New York Stock Exchange is an know the seller, finding the reasons why is the key to
example of a perfect market. To explain the negotiation process. The seller who is making a
that further, the buying and selling pro- large profit could be expected to be more flexible
cess involves an asking price, com- than a seller who is losing money or breaking even.
monly called the offering price
and a bidding price. These
prices are the same across the
country, we all understand that Circumstances
process. The imperfect market, that is real estate, Ideally we would all like to buy from motivated
could have hundreds of thousands of selling prices sellers who must transfer or move in 10 days and
for a three bedroom, two bathroom house. Loca- they are asking 25% below what we think the price
tion, square footage, improvements, amenities, con- should be. It happens, but probably not to you un-
dition and many other factors from motivation to fi- less you are actively buying every month, although
nancing available, all help to create the imperfect mar- there are ways to improve your chances of making a
ket of real estate. The almost perfect market of The great deal.
New York Stock Exchange is not the place for the
Number One, deal with the owner/seller.
great negotiator. Why?? Because IBM sells for the
same price in Seattle as San Antonio as Miami. The Number Two, find out why they are moti-
stock market is the perfect market and works elec- vated. This might require a number of vis-
tronically, no matter what country you are in. its to the property and some hours of dis-
cussion, if the seller isn’t motivated, your
Imperfect chances of getting a real estate property be-
low market value are quite slim.
The seller of real estate has a major problem try-
Number Three, find out how much profit is
ing to find a buyer who matches up with the sellers
in the transaction. If the seller purchased
property for a variety of reasons, location, financing,
for $100,000 in 1975 and the value is now
timing, motivation, size, lay out, price and so forth.
$350,000, you’ve got something to bargain
Knowing this information can greatly effect the ne-
for. When you buy it right, you like it a lot
gotiation, after all, the savvy negotiator can use each
more.
of the above points as items of discussion and levers
to reduce the price. For example; the house is just a
Success without honor is an unseasoned
little to small or the location can’t be improved or
dish; it will satisfy your hunger, but it
seller financing is available on another house. The won’t taste good.
imperfect market opens many doors for the negotia-
tor. IBM stock is IBM in London, Singapore and Joe Paterno
College football coach
San Francisco. Almost every house is different and
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74 A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938
D
DADO - (1) To secure by setting in a DATUM LINE - A horizontal line from
groove. (2) To make a rectangular which heights and depths are
groove in a board or plank. measured. Varies with the area but
DALE - A valley between hills or other is usually set forth in the local
high ground. building code.
DAM - An earthen, metal, masonry, or DBA (DOING BUSINESS AS) - An
wooden wall or barrier across a flow identification of the owner or owners
of water, which is used to restrict or of a business and the business
prevent the water from flowing. name. Not a partnership or
DAMAGES - (1) Money recoverable
corporation. D
by one suffering a loss or injury. (2) DE - Latin for of; by; from; concerning.
The loss of value to property DEAD-END STREET - A street
adjoining a property taken in having ingress and egress at one
condemnation end only. Differs from a cul-de-sac in
proceedings, rather that the dead-end street does not
than the value of have an enlarged area at the end for
the property
U turns.
taken.
DEAD LOAD - (1) Most commonly,
DAMPER - An the weight of a truck, exclusive of
adjustable plate cargo. (2) The weight of a building or
in the flue of a other structure, including furnaces,
fireplace or furnace, which is used to air conditioning units, elevators, and
control the draft from the flames. other permanent machinery, but not
DATA PLANT - Information on real furniture, people or inventory of a
property, filed and held by an business in the structure.
appraiser, lender, etc. DEAD RENT - A term used in mining
DATED DATE - Indicates the date a to indicate the fixed annual rent,
document was executed (signed), exclusive of royalties. In commercial
rather than the date of recording percentage leases, usually called
(recorded date). minimum rent or base rent.
DATUM - A position from which
distances are measured.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 75
3001 TERMS THAT EARN & WORDS THAT WORK
DEALER - One who buys and sells DEBT - Money owing from one
real estate as a business, as person to another.
opposed to an investor. The
DEBTOR - One who owes a debt.
importance of the term is for tax
purposes. If IRS determines that a DEBTOR’S POSITION - Value of
taxpayer is a dealer, said taxpayer property over the amount of
will not be allowed the capital gains mortgages. Commonly called the
benefits of an investor, but will be equity
taxed at ordinary income rates. The DEBT SERVICE - The amount of
term applies to the transactions financing (mortgages or trust
more than the person. One may be deeds) on a property.
a dealer in certain transactions and
D an investor in others. DECEDENT - Originally, one who
was dying. Modernly, one who is
DEATH RATE - Number of deaths in dead.
a given area in a given time. Based
on a per 100 or per 1000 DECENTRALIZATION - The
population. movement of people and
businesses from a central area (a
DEBENTURE - Unsecured
city or downtown area) to more
indebtedness, usually long-term.
scattered positions (surrounding
Most common debentures are in the
suburbs).
form of bonds.
DECIBEL - A unit of measurement
DEBENTURE BOND - (See:
for sound or noise levels. Some
Debenture.)
states require a builder to make a
DEBENTURE STOCK - (See: purchaser aware of the noise level
Debenture.) in given areas (usually near
DEBIT - An airports).
accounting term DECIDUOUS TREES - Those which
used to designate a shed their leaves or fruit at
payment or owing, seasonal intervals.
as opposed to a
credit which is a DECK - Any flat surface which
receiving or being resembles the deck of a ship, and is
owed. not enclosed. A flat area on a roof,
roof of a porch, etc.
NOTES:
90 Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
E
EARNEST MONEY - (See: Deposit) EASEMENT OF NECESSITY - An
EARNINGS - Money received for easement granted by a court when it
labor or personal services rather is determined that said easement is
than a return on capital, although absolutely necessary for the use and
corporate income from all sources is enjoyment of the land. Commonly
described as “earnings.” given to landlocked parcels.
EASEMENT - right created by grant, EAVES - The margin or lower part of a
reservation, agreement, prescription roof projecting beyond an exterior
or necessary wall.
implication, which EBB TIDE - The tide is at its lowest,
one has in the or the period from high to low.
land of another. ECONOMIC LIFE - The “profitable”
It is either for
the benefit of
life of an improvement. Generally E
Utilities Easement shorter than the physical life (before
land it’s worn out).
(appurtenant), such as right to cross
A to get to B, or “in gross,” such as a ECONOMIC OBSOLESCENCE -
public utility easement. Loss of desirability and useful life of
a property through economic forces,
EASEMENT APPURTENANT - An such as zoning changes, traffic
easement for the benefit of another pattern changes, etc. rather than
parcel of land, such as the right to deterioration (functional
cross parcel A to reach B. The obsolescence).
easement will pass with the transfer
of property to a new owner. (See ECONOMIC RECOVERY ACT OF
also: Dominant Tenement; Servient 1981 (ERTA) - Laws designed to
Tenement.) stimulate the economy, including
stimulation of the real estate market.
EASEMENT BY PRESCRIPTION - (See: Accelerated Cost Recovery
(See: Prescriptive Easement.) System.)
EASEMENT IN GROSS - An ECONOMIC RENT - The market
easement for the benefit of a person rental value of a property at any
or company, rather than for the given time, even though the actual
benefit of another parcel of land. rent may be different.
Commonly, such easements as for
public utilities.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 91
3001 TERMS THAT EARN & WORDS THAT WORK
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 101
3001 TERMS THAT EARN & WORDS THAT WORK
FALLOW - (1) Land tilled and FASCIA - A flat, long finishing band
prepared for planting, but not or board, used at the outer edge of
planted. A method of soil a cornice, or to conceal rafter ends.
conservation. (2) Land left idle FAST FOOD RESTAURANT - A
which would ordinarily be planted. limited menu restaurant, offering
FALSE ADVERTISING - In most quick service, low prices, and
instances when in connection with usually over-the-counter or drive-
real estate, newspaper thru service rather than table
classified advertising service.
which misrepresents FATHOM - A measure of depths,
the property, price or used at sea, being six feet.
terms. A broker may FEASIBILITY SURVEY - A study of
have its license an area before construction of a
suspended or revoked if project, to determine the probable
the offense is prolonged or financial success of the project.
deliberately fraudulent.
FEDERAL DEPOSIT INSURANCE
FAMILY ROOM - A room used CORPORATION (F.D.I.C.) - The
F informally for recreation, usually
built off the kitchen.
federal corporation which insures
against loss of deposits in banks,
FANNIE MAE - (See: FNMA) up to a maximum amount (currently
$40,000).
FAN WINDOW - (See: Circlehead
Window.) FEDERAL FAIR HOUSING LAW -
Title VII of the Civil Rights Act
FARM - (1) A large parcel of land which forbids discrimination in the
devoted to raising crops. (2) Land sale or rental of residential property
used for producing dairy products because of race, color, sex, religion
(dairy farm) or raising certain fish or or national origin.
animals, such as a lobster farm,
oyster farm, etc. (3) A geographical
One of the most lasting
area in which a real estate
pleasures you can
salesperson concentrates its experience is the feeling that
business efforts (farms). comes over you when you
FARMER HOME ADMINISTRATION genuinely forgive an enemy
- whether he knows about it
(FmHA) - The federal agency which or not.
makes, participates, and insures A. Battista
loans for rural housing and farms.
FIXED WINDOW - A window which four flat. Flats are no longer built
has no moveable parts, such as a having given way to duplexes, four-
picture window. plexes, etc.
FIXTURES - Personal property which FLAT COST - The direct cost of labor
is attached to real property, and is and materials used in construction
legally treated as real property while of a project.
it is so attached. Fixtures, not FLAT LEASE - (See: Straight Lease.)
specifically excepted from an
accepted offer to purchase, pass
with the real estate. FLAT ROOF - A roof
FLAGSTONE - A decorative, flat, having an almost
slate-like stone, used in walkways level surface, except for
and patios and processed in a either being slightly
variety of colors. convex, to allow drainage toward its
edges, or slightly concave, allowing
FLANGE - A projecting border, edge, water to drain at the center of the
rim, etc. used as a means of roof.
attachment to another object, as a
F method of adding strength, stability,
etc.
FLEXIBLE CONDUIT - A conduit that
can flex (bend) to reach from
another line (gas, electric, etc.) to
FLANK - The side of any structure, the point of intended use.
hill, etc.
FLEXIBLE INTEREST RATE - (See:
FLASHING - Variable Interest Rate.)
Sheet metal or FLEXIBLE LOAN INSURANCE
similar PLAN - (See: Pledged Account
material, used Loan.)
at different
points in a FLEXIBLE RATE MORTGAGE -
structure to (See: Adjustable Mortgage Loans.)
prevent water seepage, such as
FLIGHT PATTERN - The path
around vent pipes, chimneys, etc.
(pattern of flights) used
FLAT - A building containing a single by airplanes for
living unit on each floor, and approaching
sometimes referred to by the and departing
number of units, such as two flat from an airport.
FLOOR OF FOREST - The covering FLOW TIDE - High tide. The highest
of the ground of a forest, composed tide under normal weather
of partially decomposed vegetation, conditions, as determined by the
twigs, etc. Also called duff. phases of the moon.
FLUE - (1) The opening or
passageway in a chimney through
which smoke, gases, etc., pass
from a building. (2) Any opening or
passageway for the elimination of
FLOOR PLAN gases, fumes, etc.
- The layout of a building or FLUME - (1) A natural gorge or
portion of a building (apartment, ravine, through which a stream
office, etc.), showing the size of the
flows. (2) An artificial channel,
rooms and the purpose of each
inclined as a chute and used to hold
(bath, bedroom, etc.) A good floor
running water on which logs are
plan should be very important to a
floated from one place to another.
builder, since it will be important to
buyer or tenant. FLUORESCENT LIGHTING -
F FLOOR TIME - A period during the
Tubular glass lights, the interior of
which has a fluorescent coating.
working day when a specific
salesperson is responsible for Light is produced by the action of a
general inquiries (walk-in or stream of electrons upon the
telephone) regarding property in a coating.
brokerage office. This is generally FNMA (FANNIE
established as a set, rotating MAE) - A
number of hours per week for each private corporation dealing in the
salesperson. When a salesperson purchase of first mortgages, at
is “on the floor” he or she must be in discounts.
the office or make arrangements
FNMA BUYDOWN - FNMA (Federal
with another salesperson to cover
National Mortgage Association)
the floor during those hours.
accepts loans containing a buy-
FLOWAGE EASEMENT - Not an down provision on single-family
easement by agreement, but the residential, owner-occupied
common-law servitude of land of a properties. A prepayment (points)
lower grade level to allow water will buy a lower rate of interest
from land of a higher level to flow during the first one to five years of
across it.
Understand this! It’s Vital! All of the results you are currently
experiencing in your life are absolutely perfect for you. This includes
your career, personal relationships and financial status.
How Could It Be Otherwise?
The reason you are where you are in life, is simply the result of all
the choices you have made to this point. In other words, the
consistency of your positive choices, or lack of them, has given you
the lifestyle you now own.
When you accept total responsibility for this fact, you are well on
your way to enjoying piece of mind. Many people endure a life filled
with frustration because they are stuck!
You must…
Choose Wisely!
When you consistently make better choices, you create better habits.
The better habits produce better character. When you have better
character, you add more value to the world. When you become more
valuable, you attract bigger and better opportunities. This allows you
to make more of a contribution in your life. This leads to bigger and
better results and more success.
116 Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
G
GABEL - Rent. A seldom used term. lender to loan the full amount of a
GABLE - The exterior wall surface, take out commitment, rather than
triangular in shape, formed by the only the floor amount. (See also:
inclined edges of a ridged roof Floor Loan; Take Out Loan.)
(gable roof). GAP FINANCING - Loans secured as
GABLE ROOF - A ridged roof, having interim financing until more
two sloping edges which, at the ends permanent financing can be
of the ridge, form a gable. obtained.
GAIN - Profit. Important for tax GARAGE - A place to keep or repair
purposes when realized from the motor vehicles; either a building
sale of a capital asset. (See also: adjacent or attached to a residence,
Capital Gain.) or as a commercial enterprise.
GALLERY - (1) A covered walkway, GARBAGE DISPOSAL - A small tank
open on one side, running along an with metal grinders, which is usually
upper story of a building, either installed under the drain in a kitchen
inside or outside. (2) The highest sink. The grinders pulverize
theater balcony, having the cheapest discarded food into particles which
seats. (3) A building or portion of a may be washed into the sanitary
building used of exhibits, such as an
art gallery.
sewer. G
GARDEN - A small parcel of land
GALLON - A liquid measure of 231 used for growing fruits,
cubic inches or 4 quarts. (See also: vegetables, or flowers,
Imperial Gallon.) which are usually not
sold, but used by the
GAMBREL ROOF - A
grower.
ridged roof, each side
having two slopes, the lower of GARDEN
which is more inclined. APARTMENT - An
GAP COMMITMENT - A commitment apartment development consisting
to loan the difference between the of two or more structures,
floor amount of a take out loan and surrounded by an abundance of
the full amount. The commitment is lawns, plants, flowers, etc., giving a
issued to enable a construction garden-like atmosphere.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 117
3001 TERMS THAT EARN & WORDS THAT WORK
G GAZEBO - An open
structure, usually
GENERAL LIEN - (1) A lien such as
a tax lien or judgment lien, which
attaches to all property of the debtor
in the garden of a
rather than the lien of, for example,
“summer house”
a trust deed, which attaches only to
where one may
specific property. (2) The right of a
sit and enjoy the
creditor to hold personal property of
view. Also called
a debtor for payment of a debt not
a Belvedere.
associated with the property being
GEM - (See: Growing Equity held. Must be done under an
Mortgage.) agreement since against general
precepts law.
GENERAL BENEFITS - In
condemnation, benefits accruing to GENERAL MORTGAGE - (See:
property not taken, but which Blanket Mortgage.)
benefits are caused by the taking.
GROSS PROFIT - The total profit GROUND RENT - Rent paid for
before deductions. A general term vacant land. If the property is
which varies, depending upon improved, ground rent is that
accounting procedures. portion attributable to the land only.
GROSS RENT MULTIPLIER - A GROUNDS - The area surrounding a
method of obtaining an approximate building which goes with and is of
value of income property by using the same ownership as the building.
gross yearly rents. Commonly used The
in advertising. Example: An word
apartment building is advertised at would be
7 x gross. If gross yearly rent is used if
$10,000, the asking price is the area
$70.000. The 7 represents the were
“going rate” for this type of building. substantial as
opposed to a yard.
GROSS SALES - The total sales for
(2) Strips of wood placed on the lath
a given time, before deductions for
to which molding is nailed.
refunds, allowances, etc.
GROUND WATER - Water in the
GROUND BEAM - A horizontal
subsoil or of a spring or shallow
beam, very heavy and strong,
well.
installed at ground level to support
G and distribute the weight of that part
of the building above the
GROUT - (1) Thin mortar used in
masonry work to fill
foundation. joints between
bricks, blocks, tiles,
GROUND LEASE - A lease of vacant
etc. (2) A variety of
land, or land exclusive of any
plaster used to finish
buildings on it. Usually a net lease.
ceilings of superior
GROUND LEVEL - Being at the level quality.
of the surrounding land, such as the
GROWING CROP - A crop is
ground floor of a building.
considered “growing” from the time
the seed is planted. It then stops
being personal property and
becomes part of the land passing
with the fee unless specifically
excepted.
NOTES:
Report
Lessons From The Unique Skills Of
Persuasion, Influence and Negotiation
That Will Put You Years Ahead Of Your Competition
Ted
Thomas
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Competitive Advantage Report
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H
HABENDUM - The clause in a deed, HALF-TIMBERED - Residential
following the granting clause, which construction exposing the timber
defines the extent of the estate of frame of the interior walls, the space
the grantee. between being lath and plaster. In
simulated half-timbering, the
HABITABLE ROOM - A room used attaching of boards (or a plastic
for living area, such as a kitchen, which is treated to resemble a
bedroom, dining room, etc., as timber surface) to the surface of an
opposed to bathrooms, closets, interior wall. In simulated half-
hallways, and similar spaces. timbering, the boards are strictly
Generally, habitable rooms are the decorative, and not load-bearing.
only ones counted in the number of
rooms in a house; bathrooms are HALL - Originally, a large building
counted separately. used as a meeting place, such as a
town hall. The term has also
HABITANCY - A legal term meaning become synonymous with “hallway”
the place which a person inhabits the latter being a relatively narrow
(lives). The lay person’s meaning of passageway between rooms.
a place where someone “lives” is HAMLET - A small village or town.
probably the closest definition.
HAND - A lineal measure
HACIENDA - An estate, farm, or equal to four inches, the
commonly, even a house. Originally, approximate width of a
the royal estate. man’s hand. Most H
Hack
Stand
commonly used to
HACK STAND - TAXI measure the height of a
An area where horse.
taxicabs may HARBOR - A natural or man-made
park to solicit sheltered area for ships to anchor.
fares. May or may not have docks and
HALF SECTION - other port facilities.
One half of a section of land, divided HARD FINISH - A smooth outer coat
either North and South, or East and of varnish, plaster or similar finish
West. (See also: Section.) material.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 129
3001 TERMS THAT EARN & WORDS THAT WORK
SHORT
SHORT SALES
SALES
H
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3001 TERMS THAT EARN & WORDS THAT WORK
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3001 TERMS THAT EARN & WORDS THAT WORK
Ted Thomas’
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That Will Put You Years Ahead Of Your Competition
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Competitive Advantage Report
...continued from previous page
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K
KAME - A small mound or hill business lost, and replacement of
composed of stratified glacial the individual). Some lenders require
deposits. this insurance before lending to
KEENE’S CEMENT - An unusually small companies which rely on one
tough and durable gypsum plaster to or a few “key” people.
which alum has been added. Used KICK PLATE - A metal or plastic strip,
primarily for walls of commercial placed at the lower edge of a door or
buildings. on a riser of a step to protect it from
KEEPER - A term seldom used in the damage by accidental kicking.
United States. A custodian of a KILN - (1) An oven which reaches
building or grounds. high temperatures for baking
KELP-SHORE - A retirement plan ceramics, or bricks. (2) A room or
whereby a self-employed person shed through which
may set aside a certain portion of warm, dry air is
income (tax deferred) into a circulated to dry
retirement account. The money is lumber.
taxable upon withdrawal at KILO - One thousand;
retirement when the person’s tax a prefix (kilometer - 1,000 meters,
bracket is often lower. kilogram -1,000 grams.)
KERF - (1) A notch or slit made by a KILOGRAM - 1,000 grams (2,204
saw. (2) The width of the cut of a pounds).
saw blade. KILOMETER -1,000 meters. (See
KEY LOT - (1) A strategically located also: Meter [1].)
lot, adding to its value. (2) A lot KILOVOLT -1,000 volts.
adjoining a corner lot at its rear
property line with frontage on the KILOWATT - 1,000 watts.
secondary street. Also called a Butt KILOWATT HOUR - 1,000 watt-hours.
Lot.
KIN - Those related by blood.
KEYMAN INSURANCE - Insurance
KITE WINDER - The steps at the
through loss (through death or
curvature of a circular stairway,
disability) of a “key” (important)
person in a company. The liability is
which are triangular or kite-shaped. K
the estimated cost of the loss (in
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 155
3001 TERMS THAT EARN & WORDS THAT WORK
Ted Thomas’ TM
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 157
3001 TERMS THAT EARN & WORDS THAT WORK
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 171
3001 TERMS THAT EARN & WORDS THAT WORK
IINNER
NNER C
CIRCLE
IRCLE
MASTERMIND
& ROUND
OUNDTABLE
ABLE
products.
Ted
A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938 183
Inner Circle MasterMind & RoundTable
...continued from previous page
Actions Have Consequences much about what they don’t want and how
other people annoy them. These people
Successful people take action and they are attract unhappy experiences in themselves.
thoughtful about what action they take.
Action promotes other actions, action Risk taking can be done “Intelli-
causes results. gently.” Taking action
requires risk. A willingness
The law of cause and effect. If to take intelligent risk as
there is a challenge in your life, you pursue defined goals
such as lack of money or will do wonders for your
maybe a relationship problem, “nest egg” and tip the
it’s up to you to trace that back odds of success in your
to things you did to cause it. favor. It’s possible to
When you remove those causes, you achieve the same level of success
can begin seeing effects of the positive in one year that others achieve in many
actions. years by managing risk and taking action.
The point of all this is: You Create Your
Control your complaining. People talk too Own.
Invest In Yourself
Invest in yourself! You’re all you’ve got. You are the Real Asset in your
business and you are always either appreciating or depreciating in
value. Investing in your health and well being, your wardrobe, your
library, your personal resources, your continuing education, self-im-
provement and associations makes sense.
Associations with others who can assist you is crucial. Where are you
going? How do you plan to get there? It takes growth and education.
Depending on where you are in life, 10%, 20% even 30% of your income
should be allocated to self-improvement. I prefer to say “Re-Inventing
Yourself” physically and economically.
Ted Thomas
184 A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938
N
NAME CHANGE - In conveyancing, estate brokers who have adopted
setting forth both the present name the term “Realists.” Originally
of the grantor and the name under founded in Miami in 1947, the
which said grantor acquired title, if association is now based in
different. For example: Joan Doe, a Washington, D.C.
married woman, who acquired title
NATURAL DISASTER - (See: Act of
as (or also known as) Joan Smith.
God.) N
NAR (NATIONAL ASSOCIATION OF
REALTORS) - An association of NATURAL FINISH - A finish which
people engaged in the real estate retains the color and appearance of
business. Organized in 1908, it the surface covered, such as varnish
currently lists over half a million over wood, rather than paint.
members. With headquarters in NATURALIZATION - Granting
Chicago, it is dedicated to the citizenship to an alien. In the United
betterment of the real estate industry States, a naturalized citizen has the
through education, legislation, and rights of a native citizen, with the
high ethical standards for its exception that the naturalized citizen
members. may not hold the office of president.
NAREB (NATIONAL ASSOCIATION NATURAL PERSON - A human being
OF REAL ESTATE BOARDS) - A rather than some type of business
national trade association whose entity, such as a corporation,
members include not only real estate partnership, etc.
brokers, but appraisers, property
managers, and other affiliated NATURAL RESOURCES -
groups. Resources of
an area, such
NATIONAL ASSOCIATION OF REAL as minerals,
ESTATE BROKERS - An oil, timber,
organization dedicated to the water, etc.
betterment of the real estate industry May also
and specifically to the roll of blacks include
in the real estate industry. It is people.
composed primarily of black real
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 185
3001 TERMS THAT EARN & WORDS THAT WORK
One learns by doing a thing; for though you think you know
it, you have no certainty until you try.
Sophocles (496 - 406 B.C.)
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 191
3001 TERMS THAT EARN & WORDS THAT WORK
OPEN SPACE LAND - Land used for OPTIONOR - One who, for
agriculture, recreation, consideration, gives an option.
scenic beauty, ORAL CONTRACT - A contract,
natural resources, partly written and partly spoken, or
water shed, or not at all reduced to writing.
wild life, and so
designed on a map. ORDER CONFIRMING SALE -
Court order confirming the terms of
OPEN SPACE RATIO - Ratio of a sale of property out of an estate.
land area to floor area of an
ORDINANCE - A law or statute. The
apartment building. Used in zoning
term used to designate the
requirements.
O OPERATING EXPENSES - The cost
enactments of the legislative body
of a municipal corporation or a
of operating an income producing county.
property, such as management, ORDINARY INCOME - A term having
utilities, and similar day-to-day meaning only in relation to income
expenses, as well as taxes, tax. The regular graduated scale of
insurance, and a reserve for tax is paid on income which is
replacement of items which called “ordinary,” as opposed to
periodically wear out. capital gains or any other income
taxed differently.
OPINION OF TITLE - (See: Abstract
of Title.) ORDINARY REPAIRS - Repairs
necessary to
OPTION - A right, which acts as a keep a property
continuing offer, given for in good
consideration, to purchase or lease condition,
property at an agreed upon price against ordinary
and terms, within a specified time. wear and tear,
OPTIONEE - One who, for decay, etc.
consideration, receives an option.
ORDINATE - A point along the
OPTION FOR ADDITIONAL SPACE vertical axis of a curve. When in
- An option given to a tenant to rent conjunction with a point on the
additional space at a specified horizontal axis (abscissa), the point
rental amount and terms. is called the “co-ordinates.”
I keep the telephone of my mind open to peace, harmony, health, love, and
abundance. Then whenever doubts, anxiety, or fear try to call
me they keep getting a busy signal—and soon they’ll forget
my number.
Edith Armstrong
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 197
3001 TERMS THAT EARN & WORDS THAT WORK
PUBLIC REPORT - A report given to PUR AUTRE VIE - For (during) the
prospective purchasers in a new life of another. A life estate
subdivision, stating the conditions of measured not by the life of the
the area (costs of common facilities, grantee, but by the life of another
availability of schools, noise factor if person. The life of a famous person
near an airport, etc.) issued by the is commonly used, such as a young
real estate commission. member of a royal family known for
PUBLIC SALE - Sale at auction, its longevity.
open to the public. May be a PURCHASE AGREEMENT - An
foreclosure sale, tax sale, excess agreement between a buyer and
state land sale, or other type. A seller of real property, setting forth
“public” sale generally requires the sale price and terms of the sale.
notice (advertising) and must be PURCHASE AND LEASEBACK -
held in a place accessible to the (See: Sale-Leaseback.)
general public.
P PUBLIC UTILITY - A company such
PURCHASE MONEY BOND - A
bond having a purchase money
as the telephone company, electric mortgage as security.
company, or gas company, which
supplies a necessity in our modern PURCHASE MONEY MORTGAGE -
life, and monopolizes the industry. (1) A mortgage given from buyer to
Such companies are under the seller to secure all or a portion of
control of the Public Utilities the purchase price. (2) Any
Commission. mortgage from which the funds are
used to purchase the property.
PUFFER - One hired to
make false bids at an PURCHASE MONEY TRUST DEED
auction in order to raise - (See: Purchase Money Mortgage.)
the price of the property PURCHASE OFFER - (See: Owners
being sold. Agreement.)
PURCHASER’S POLICY - (See:
PUFFING - An opinion not Owner’s Policy)
made as a representation PURLIN - A horizontal supporting
of fact, but intended to enhance the beam of a roof frame, parallel to the
value of the property. ridge line and placed under the
PUNITIVE DAMAGES - (See: rafters.
Exemplary Damages.)
NOTES:
212 Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
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Competitive Advantage Report
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That way you are not criticizing the opponent The idea is to create reciprocity. Equals
and you are cooperating. Be first to present alter- working towards a common benefit.
natives – that’s plural. Many of your opponents
will say no to all of your suggestions. Prepare for
that. Time is a significant part of the negotiation “Making a success of something has
and it takes time for people to consider alterna- nothing to do with luck. Care, thought,
tives and options. They need time to think about and study go into making something
it. People are begging to be lead, make sugges- succeed.. Luck is something you get
tions. Encourage the oppo- playing the lottery or roulette.”
nent to participate. Show
that you can go beyond Author Unknown
what’s normal. Show
them a better solution.
When they are con-
fronted with something bet-
ter, when it’s staring them in the
face, it’d hard for them to argue.
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R
RABBET - A method of joining or RANCH - Traditionally, a place for
fitting together wood by cutting a raising horses or cattle, which feed
deep groove in one piece to allow on a grazing range. More modernly,
the other to be fitted against it. the term has been applied to the
RACEWAY - A pipe carrying electrical raising of other animals under
wiring, having outlets at close controlled conditions, such as mink,
intervals. chickens, etc.
RADIATOR - An old fashioned, cast RANCH UNIT - The ranch itself plus
iron, ribbed heating fixture public lands used as part of the
using hot water. Most ranch operation, under permits.
modern systems use air RANDOM SHINGLES - Roof or siding R
for heating, because water shingles of different sizes.
or steam systems are
more expensive. RANGE - (1) A division of land in the
government survey, being a six-mile
wide row of townships, running North
RAFTERS - Load-bearing timbers of a
and South, and used in legal
roof. Flat roof rafters are usually
descriptions. (2) Land used for
called joists.
grazing
RAIL - (1) A horizontal bar such as the livestock.
cross member of a fence. (2) Tracks
on which a train runs.
RAKE - Sloping members, such as a
cornice, which run parallel to the
inclination of a roof.
RAMP - (1) An inclined, concrete or RATABLE ESTATE - Property capable
wooden path, used instead of steps. of being rated (assessment, taxed).
(2) A roadway used as an entrance
or exit to a limited access highway.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 215
3001 TERMS THAT EARN & WORDS THAT WORK
230 Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
S
SAFETY CLAUSE - A clause in a SALES KIT - Materials carried by a
listing protecting the broker from salesperson to aid in listings and
having buyer and seller wait until the sales. This is the “tool kit” of real
listing expires to make a deal, estate, containing forms, maps, tape
thereby avoiding the payment of measure, amortization schedules,
commission. The clause states that pens, paper, etc.
if the property is sold during a
specified period after the expiration SALESPERSON
of the listing (or any extension - One who is
thereof) to a buyer provided during licensed to
the listing period by the broker, the work in real
commission shall be paid. estate under a
licensed
SALARY - A compensation for broker.
services, usually paid at specified
intervals, and a set amount. SALVAGE VALUE - The value of a
SALE-LEASEBACK - A sale and building or portion of a building to be
subsequent lease from the buyer moved from one location for use at
back to the seller. Although the lease another site. Most often occurs in
actually follows the sale, both are condemnation, especially for
highway purposes, where large
S
agreed to as part of the same
transaction. areas must be cleared. (See also:
Scrap Value.)
SALES-ASSESSMENT RATIO - The
ratio of the assessed value of a SAM - (See: Shared Appreciation
property to its selling price, which is Mortgage.)
presumed to be market value. This
shows the percentage of assessed SANDWICH BEAM - (See: Flitch
value to market value. Beam.)
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T
TACKING - (1) Annexing a lien to one TANDEM PLAN - A method of
superior to it in order to gain the keeping home financing active by
priority of the superior lien and the purchase of mortgages by
defeat an intermediate line. GNAAA (Government National
Generally not allowed. (2) Annexing Mortgage Association) at face value
periods of possession to add up to (par), for resale to FNMA (Federal
enough time for successful adverse National Mortgage Association), a
possession. For example: “A” begins private corporation, at a discount.
adverse possession. “A” dies and TANGIBLE PROPERTY - (See:
“A’s” son takes up possession., Corporeal Property.)
adding “A’s” time to his own. Not
always allowed. TANGIBLE VALUE - Value in
appraisal of the physical value (land,
TAKE OUT COMMITMENT - buildings, etc.), as opposed to the
Agreement by a lender to place a value of an intangible, such as
long term (take out loan) loan on real favorable lease.
property after completion of
construction. TAX BASE - The assessed valuation
or real property, which is multiplied
TAKE OUT LOAN - The “permanent” by the tax rate to determine the
(long-term) financing of real estate amount of tax due.
after completion of construction.
TAX BOOK - (See: Tax Roll.)
TAKING - A common synonym for
TAX BRACKET - The percentage of
condemnation (eminent domain).
TALUS - Rocks at the foot of a hill or
income tax which one pays, based T
on graduated tax tables.
other slope, which accumulate by
sliding or rolling down the slope from TAX DEED - (1) Deed from tax
the action of wind, rain, and gravity. collector to government body after a
period of non-payment of taxes
according to statute. (2) Deed to a
purchaser at a public sale of land
taken for delinquent taxes. The
purchaser receives only such title as
the former owners had, and strict
procedures must be followed to
prevent attachment of prior liens.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 253
3001 TERMS THAT EARN & WORDS THAT WORK
TAX DISTRICT - An area over which TAX ROLL - A list, usually published
a governmental body has authority by a county, containing the
to levy property taxes; may contain descriptions of all parcels in said
one or more assessment districts. county, the names of the owners (or
those receiving the tax bill), the
TAXES - A mandatory assessed value, and tax amount.
contribution of money to TAX SALE - Public sale of property
met the expenses at auction by governmental
of a government, authority, after a period of
whether federal, nonpayment of property tax.
state, or local.
TAX SEARCH - A part of a title
TAX EXEMPTION - search which determines if there
Freedom from are any unpaid taxes for
payment of assessments which may be a lien
property or other taxes, granted to against the property being
religious, educational, and similar searched.
organizations. Partial property tax TAX SHELTER - A general term
exemptions are granted in some used to include any property which
states to individuals, such as gives the owner certain income tax
veterans and senior citizens. advantages, such as deductions for
property taxes, maintenance,
TAX LIEN - (1) A lien for nonpayment mortgage interest, insurance, and
of property taxes. Attaches only to especially depreciation.
the property upon which the taxes
T are unpaid. (2) A federal income tax
TAX STAMPS - (See: Documentary
Tax Stamps.)
lien may attach to all property of the
one owing the taxes. T-BILLS - (See: Treasury Bills.)
TAX TITLE - (See: Tax Deed [2].)
TAX RATE - Traditionally the ratio of
dollars of tax per hundred or per TEMPERA - A process of painting,
thousand dollars of valuation. using a base of albuminous or
Modernly, has become to be colloidal materials, instead of oil.
expressed as a percentage of TEMPLE - A place of worship,
valuation. usually thought of as being large
and ornate.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 265
3001 TERMS THAT EARN & WORDS THAT WORK
IINNER
NNER C
CIRCLE
IRCLE
MASTERMIND
& ROUND
OUNDTABLE
ABLE
made adjustments.
Ted
A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938 269
Inner Circle MasterMind & RoundTable
Ask yourself…
From Whom Do I Accept Criticism?
270 A Creating Wealth Special Report from Ted Thomas and Jones & Trevor Marketing ©2004 • 321-449-9940 • FAX 321-449-9938
V
VACANCY - A place which is empty VALLEY - (1) The conclave angle
(vacant). The term is generally used formed by the two sloping sides of a
to describe a property available for roof. (2) Low land between hills or
rent. mountains.
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 271
3001 TERMS THAT EARN & WORDS THAT WORK
Created and copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing 275
3001 TERMS THAT EARN & WORDS THAT WORK
X
X X - (See: Mark.)
Z
ZANJA (SPANISH) - An irrigation ZONING - The division of a city or
ditch. county by legislative regulations into
ZERO LOT LINE - The construction areas (zones), specifying the uses
allowable for the real property in
Z
of a building on any of the boundary
lines of a lot. Usually built on the these areas.
front line, such as a store built to the ZONING MAP - A map of a
sidewalk. (See also: Zero Side community showing the zones of
Yard.) permitted use under zoning
ZERO SIDE YARD - The building of a ordinances.
subdivision with each house built on ZONING ORDINANCE - A law
a side boundary line. This gives (generally at the city or county level)
more usable yard space on narrow controlling the use of land and
lots. An easement for maintenance construction of improvements in a
is given over a portion of the lot given area (zone).
adjoining each house.
ZONING VARIANCE - (See:
ZONE - (1) An area of a county or city
Variance.)
in which the use of the land is
restricted by law (zoning ordinance.) ZYGOCEPHALUM - In civil law, an
(2) An area designated by a number inaccurate measure of land. The
for the delivery of mail. Zip codes area of land a yoke of oxen could
incorporate the zones. plow in one day.
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282 Created and Copyrighted © 2004 by Ted Thomas and Jones & Trevor Marketing
Ted Thomas’ TM
By the end of the 8 weeks, you will learn the A-Zs on Tax Liens and be
able to buy your first one with confidence and success.
Your coach will also keep you more focused on your goals, and offer you
new techniques of investing that could add more money to your bank
account.
Do I need a Coach?
A recent survey revealed that Ted’s students were able to accelerate their income
and profits faster because they had access to a “Wealth-Building Coach”.
Ask yourself...
• Do you have a financial plan for the future?
• Are you committed to growing yourself and your company?
• Do you have someone you can trust to bounce ideas off of?
• Do you have a clear measurable action plan that you are following?
• Are the same problems coming up again and again?
Ted’s “Coaches” will resolve these issues and get you on the
right track. You’ll get more accomplished in less time!
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Coaching Program
Another Wealth Building Idea from Ted Thomas 283
Could You Use A Coach?
• Are you committed to growing yourself financially?
• Are you committed to improving your business’ bottom line?
• Does it concern you that the business is not being run at its maximum money
making capacity?
• Do you run the business or does the business run you and your life?
• Are you truthful and will accept change and implement change?
• Are you willing to listen to another person’s plan?
Everyone in business wants to gain a competitive advantage. This requires that you
know more than your competitor. The question is; how do you get to a higher level?
I find that looking outside your business is helpful. My point is; you need other
opinions and ideas.
COMMUNICATIONS
284
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Another Wealth Building Idea from Ted Thomas TM
Coaching Program
(continued from previous page)
GET A COACH
Ask yourself, “Is a coach in your best interest?” The
truth is, if you want to rise to a higher level, I have
found several reasons why a coach can give you the
extra edge to succeed. Let’s start with the most
obvious...Money! Coaches help you increase your business.
Simply put, coaches help you make and keep More Money...
FOCUS!
To attract success you must be clear, very clear about what you
want. A coach with fresh eyes forces you to focus on your vision.
Today... Call:(321)449-9940 TM
Coaching Program
Another Wealth Building Idea from Ted Thomas 285
3001 TERMS THAT EARN & WORDS THAT WORK
NOTES:
SUCCESS CLUB
The Ted Thomas Mission is
Gold
to provide learning systems
and tools to help you make as
much money as possible, as
quickly as possible. If you have
been searching for the true secret of success and want to
achieve extraordinary results in your business, the “Ted
Thomas Success Club” may be the most important learning
tool you can ever invest in.
A Ted Thomas MINI-SEMINAR Each And Every MONTH!
People are always telling me, Ted what is the best investment? Is it Real
Estate, or is it the stock market? I always answer them by telling them it’s
not Real estate or stocks, because as you and I both know, the stock market
goes up an it goes down. The best place to invest your
money is in your education. It doesn’t go up and down.
Education makes you better and better. I’m sure we
agree.
Ted Thomas