Glossary

Second Mortgage

A second loan on real estate that already has a mortgage. It is subordinate to the first mortgage. Usually of shorter term and often at a higher interest rate.

Section or Section of Land

A parcel of land comprising one square mile or 640 acres.

Set Back Lines

Those lines which delineate the required distances for the location of structures in relation to the perimeter of the property.

Sub-surface Right

The right of ownership to things lying beneath the physical surface of the property.

Survey

The process of measuring land to determine its size, location and physical description and the resulting drawing or map.

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