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A B C D E F G H I J K L M
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Oath An attestation by a person which binds him or her legally and morally. Usually attesting to the truth of something, as an affidavit, or the validity of ones signature. A promise to tell the truth. Als
Offset In the case of percentage rents, the right of the tenant, or in the case of the loan, the right of the borrower to offset certain increased costs against the percentage rental.
Off-Site Costs Costs incurred improving new land, excluding buildings, fences, landscaping costs, e.g., grading, sewers, drains, gutters, curbs, sidewalks, public utilities, etc.
One Hour Wall A fire resistant wall, one which will hold back a fire for a minimum of one hour.
Open Beam Construction A design using heavy roof beams as interior finish, exposed to give a roomy, heavy, rugged appearance to a room.
Open House A house which is open, without an appointment, to prospective buyers (or tenants) for inspection, during certain hours and days of the week.
Open Space Land Land used for agriculture, recreation, scenic beauty, natural resources, water shed, or wild life and so designated on a map.
Open Space Ratio Ratio of land area to floor area of an apartment building. Used in zoning requirements.
O.P.M. Acronym for “use of other peoples money”. Referring to the fact that there is a high degree of leverage in the investment . in order to qualify for the use of O.P.M. the initial cash investment should
Oriel Window A window projecting outward, similar to a bay window. However, an oriel window is supported by brackets or a cantilever, as opposed to a bay window which is supported by the foundation.
Orientation Placing a structure on its lot with regard to its exposure to the rays of the sun, prevailing winds, privacy from the street from the street and protection from outside noises.
Original Contractor Under the mechanics lien law, a contractor who contractor who contracts directly with the owner of real property, others are designated as subcontractors.
Overpass A bridge or road elevated to avoid intersecting with a roadway, railway, or other traffic carrier.
Owner One who has the rights of ownership.
Owner Occupied Building Property Physically occupied by the owner. Usually used only in terms of residential properties.
Ownership The right of one or more persons to possess and use property to the exclusion of all others. A collection of rights to the use and enjoyment of property.
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