Construction Terminology

Construction Terms


Plat
A detailed map which sets out lots, streets, common areas and other features of a tract of land.

PMI
A policy of insurance issued by a non-governmental entity which protects a lender against the default of the borrower

Principal - Interest
A blended, periodic payment that is enough to pay off accumulated interest and a portion of the principal.

Permit
The government body's written permission to do something which is regulated by that body.

Plumbing Permit
City or county permit taken out by an electrical subcontractor in order to perform electrical work on a particular project.

PMI
A policy of insurance issued by a non-governmental entity which protects a lender against the default of the borrower

Property Line
Property line refers to the property boundary documented by a property survey
Category Construction Glossary
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