
Seal
Identifier
used as a mark of genuineness and authenticity.
Seal
Bond
Pressure
tight bonding at nonmetallic pipe joint surfaces.
Sealant
Caulking
compound which forms a waterproof, airtight bond while keeping a joint
flexible.
Sealer
Coating
which is used on a surface to close off pores so that penetration of liquid
is prevented. There are different types of sealer for wood, masonry, asphalt,
concrete, etc.
Seal-off
Fitting
Fitting
which prevents gas leakage, etc. from moving from one section of conduit
to another.
Seal
Weld
Welding
that is done to present a leak such as when a weld bead is laid where a
pipe is screwed into a fitting.
Seam
A
line formed by the joining together of any separate pieces. The place where
those pieces are attached.
Seam
Weld
Welding
done along the seam of joining or overlapping pieces.
Season
To
improve quality by aging, drying, etc. To cure.
Seasoned
Wood
Lumber
that has been allowed to dry outside.
Seasoned
Loan
Loan
where the borrower has proven his credit worthiness by having consistently
made payments.
Seat
Angle
1.
Angle of a valve seat.
2.
The part of an angle iron that holds a beam.
Seat
Cut
A
horizontal cut which, along with the plumb cut, forms the cutout that allows
the rafter to sit against the top plate.
Seawall
Barrier
that prevents erosion and water damage when erected at a shoreline.
Second
Deed of Trust
Deed
of trust or mortgage in which the lender subordinates her loan to another
lender whose priority is first if there is non-payment by the borrower.
Second
Home
A
residence that is not one's primary residence. Under current tax law, a
taxpayer may deduct interest on two personal residences.
Second
Lien
A
lien which is in addition to a first lien and subordinate to that first
lien. It can be satisfied only after the first lien has been satisfied.
Second
Mortgage
A
second loan that uses an already mortgaged house as collateral. The first
mortgage has priority over the second loan.
Secondary
Financing
Loan
that is subordinate to the primary loan and cannot be satisfied until the
primary loan is paid.
Secondary
Mortgage Market
Trading
of packaged home loans that are resold as securities to investors, most
often Freddie Mac and Fannie Mae.
Seconds
A
grade of material which has a slight defect or does not meet the standard
set for the product. They are usable where a lessening of standard or appearance
is not a problem.
Section
Measure
of land representing one square mile in the government rectangular survey;
640 acres. There are 36 sections in a 6-mile square township.
Section,
Aligned
View
of a building or object how it would appear if a section of the interior
was removed, as it is shown on a drawing and lined up with the full view
from which is was taken.
Section,
Assembly
Sectional
view to showcase how parts will fit together when completed. The parts
are shown in an exploded view, having dashed lines from the parts to their
respective locations.
Section,
Broken Out
View
of a small portion of a whole object, enlarged to show details.
Section,
Full
View
of an entire object, which appears as though the viewer, is looking through
it.
Section,
Half
Section
view, which is a view that looks into the interior of a building or object
as though the exterior has been cut away and removed, exposing the interior,
taken halfway through the object being shown. The other half is shown from
the exterior. Half is cut away to show the inside.
Section
Line
Dashed
line on a plan or elevation, which shows where an enlarged section view
is taken.
Section
Modulus
Value
which shows how much bending stress can be exerted on a structural member.
The more resistance, the higher the modulus. Section modulus differs with
the size and shape of a structural member. The same type of member will
have a higher section modulus if it is heavier than the same type of member
which is lighter because the heavier one will be stiffer.
Section,
Offset
View
which is cut through two or more planes of an object, showing special inside
features at different depths with relation to each other.
Section,
Revolved or Rotated
View
section that is shown 90 degrees rotated from the original object from
which it was taken.
Section
View
View
that looks into the interior of a building or object as though the exterior
has been cut away and removed, exposing the interior.
Section
8 Housing
Created
by the 1974 amendments to Section 8 of the 1937 Housing Act, it is a federal
program in which the government subsidizes much of the rent, in privately
owned apartments, on behalf of qualified low-income tenants.
Section
167
Section
of the Internal Revenue Code that deals with depreciation. Capital improvements
made to real property are depreciable.
Section
1031 (Tax Free Exchange)
This
section of the Internal Revenue Code deals with tax-deferred exchanges
of certain property. General rules for tax-deferred exchange of real estate
state that the properties must be like-kind property (real estate for real
estate), exchanged and held for use in a trade or business or held as an
investment.
Section
1034
The
section of the Internal Revenue Code that applied to the sale of a principal
residence before May 7, 1997. It allowed the deferment of gain on a house
when a more expensive house was purchased. Section 1034 was replaced by
Section 121 for sales after May 6, 1997.
Section
1221
Section
of the Internal Revenue Code explaining what a capital asset is and is
not. Capital assets include real estate such as buildings and raw land.
It excludes from the definition receivables, inventory and intangibles.
Section
1231
Section
of the Internal Revenue Code that deals with assets used in a trade or
business. Generally, gains on Section 1231 assets are taxed at capital
gains rates (except for depreciation recapture) and losses are tax deductible
as ordinary income.
Section
1245
Section
of the Internal Revenue Code applying to gains from the sale of personal
property subject to depreciation. In most cases, the gains are at capital
gains tax rate limited to the amount of accumulated depreciation taken.
Section
1250
Section
of the Internal Revenue Code that applies to capital gains from selling
real estate that has been depreciated for tax purposes. Most buildings
must be depreciated using the straight-line method.
Section
I and II (Homeowner's Policy)
Section
I relates to the home, contents and accompanying structures. Section II
provides comprehensive coverage for personal liability and the medical
payments and property damage incurred by those other than the insured.
Section
View
View
that looks into the interior of a building or object as though the exterior
has been cut away and removed, exposing the interior.
Sectional
Switch Boxes
Electrical
boxes which can be joined and screwed together because of their removable
sides.
Sectionalized
Brick Masonry
Reinforced
and size limited brick masonry sections that are assembled at a different
location from the use location. The use of these sections, which are also
called Panelized Brick Masonry or Pre-fabricated Brick Masonry, lower onsite
labor costs.
|