Real Estate Glossary

To protect another person against loss or damage or to compensate a party for loss or damage.
Written agreement between two or more persons having different interests.
Independent Appraisal
Value estimate provided by someone who has no participation in ownership of the property in question.
Independent Chuck
A lathe chuck, which has four independently moving, jaws to enable the item to be exactly center with the use of a dial indicator.
Independent Contractor
One who is hired to do a particular job and is subject to the direction of the person in charge. Independent contractors pay for their own expenses and taxes and are not viewed as employees with benefits.
  1. Financial tables used by lenders to calculate interest rates on adjustable mortgages and Treasury bills.
  2. Statistic that indicates some current economic or financial condition.
Index Lease
A rental contract in which the tenant's rental is tied to a change in the price level, such as the Gross National Price Deflator.
Index of Leading Economic Indicators
This index indicates the direction of the economy in the next six to nine months and helps to forecast business trends. This series of 11 indicators is calculated and published monthly by the U.S. Department of Commerce.
Index of Refraction
Indication showing the speed of light in a medium.
Index of Residential Construction Cost
Index of the costs to construct residential properties.
Indexed Loan
A long-term loan in which the term, payment, interest rate or principal amount may be adjusted periodically according to a specific index, which is usually stated in the loan agreement.
Indicating Gauge
Any device, a gauge, register, pointer or dial that measures or records and visibly indicates.
Indirect Costs
Costs not directly associated with the structure itself but have been incurred during the construction period. Also, referred to as soft costs.
Indirect Lighting
Lighting that has a large portion of emitted light directed upward, often off of a ceiling, before shining on an area or object. It reduces glare in the area being lighted and creates fewer shadows.
Indirect Overhead
Costs that are not related specifically to one particular job but are a general cost of doing business.
Individual Appliance Circuit
Heavy-duty use circuits, which may range from 20 amps to 50 amps and are used for single appliances such as water heaters, clothes dryers, dishwashers, etc.
Individual Retirement Account (IRA)
Tax-deferred savings account used to accrue funds for retirement.
Individual Vent
Vent servicing only one plumbing fixture, separate from the others, in a drainage system.
Induced Current
Electric current which originates in a conductor by use of a fluctuating magnetic field around the conductor.
Induced-draft Cooling Tower
Tower that uses a suction fan to draw air through the tower, cooling water in that manner.
Induced Soldering (IS)
Process of soldering by use of heat generated by the electrical resistance of the matter that is being soldered when an electric current is passed through it.
Inductance opposes a change in current in an electrical circuit. Alternating Current (AC) varies with time; electromotive force is generated to oppose the current flow. Electromotive force is defined as: Force that occurs due to the voltage produced by a magnetic field that is in opposition to the magnetic field that is around a coil. The voltage is induced in the coil when the magnetic field cuts the coil. Current moving through the coil forms a magnetic field around the coil. This magnetic field moves across the turns of the coil, which induces a second voltage, which builds a magnetic field opposing the course current. The induced voltage is counter electromotive force.
Induction Brazing
Brazing process which uses electrical current through the matter being brazed, creating the heat required by generating it from the electrical resistance of the matter along with the current passing through the matter.
Induction Welding (IW)
Welding done by using the heat generated by the electrical resistance of the matter being welded when the electric current passes through the matter.
Inductive Reaction
Opposition to the alternating current flow is caused by this counter electromotive force in the alternating current of a coil.
Connected with or resulting from industry.
Industrial Park
An area zoned and planned for the purpose of industrial development. Usually located outside the main residential area of a city and normally provided with adequate transportation access, including roads and railroad.
Industrial Property
Property that is zoned and used for industrial use, such as factories, manufacturing, research and development, warehouse space and industrial parks.
Industrial Tract
Land zoned for industrial use, such as manufacturing, factory office and warehouse space and research and development.
Industrial Waste
Manufacturing product waste.
Any particular type of productivity, manufacturing, enterprise, etc.
Industrial Zoning
  1. Without power to move, act or resist.
  2. Tending to be physically or mentally inactive.
  3. Having few or no active properties.
  4. Chemically inactive; glass or helium.
Inert Gas
Inert gas is a non-reactive gas, which prevents oxidation by displacing air or oxygen so it is used as an oxygen shield during welding. Since oxidation is speeded up greatly by the heat of welding, the presence of oxygen would be damaging to the finished weld.

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Landmark Realty
Fax:  (541) 929-3548

405 Landmark Dr
Philomath OR 97370

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