- net lease
- A lease requiring the tenant to pay not only rent but also costs
incurred in maintaining the property, including taxes, insurance,
utilities, and repairs.
- net operating income (NOI)
- The income projected for an income-producing property after
deducting losses for vacancy and collection and operating expenses.
- non-conforming loan
- Also called a jumbo loan. Conventional home mortgages not
eligible for sale and delivery to either Fannie Mae (FNMA) or Freddie
Mac (FHLMC) because of various reasons, including loan amount, loan
characteristics or underwriting guidelines. Non-conforming loans
usually incur a rate and origination fee premium. The current
non-conforming loan limit is 601? and
- non-conforming use
- A use of property that is permitted to continue after a zoning
ordinance prohibiting it has been established for the area.
- A written agreement containing a promise of the signer to pay to a
named person, or order, or bearer, a definite sum of money at a
specified date or on demand.