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Arch 553 Housing (Notes#1)
Arch 553 Housing (Notes#1)
NOTES #1
HOUSEHOLD – THE SOCIAL UNIT THAT LIVES IN A HOUSE. MOST COMMONLY, A HOUSEHOLD
IS A FAMILY UNIT OF SOME KIND, THOUGH HOUSEHOLDS CAN BE OTHER SOCIAL
GROUPS, SUCH AS SINGLE PERSONS, OR GROUPS OF UNRELATED INDIVIDUALS.
LEASE – (noun) THE PERIOD OF AGREEMENT GIVING THE USE OF A HOUSE, LAND, ETC. ON
PAYMENT OF RENT.
(verb) TO GIVE OR ACQUIRE A HOUSE, LAND, ETC. IN THIS WAY.
MORTGAGE – (noun) A LEGAL AGREEMENT BY WHICH A SUM OF MONEY IS LENT FOR THE
PURPOSE OF BUYING BLDGS, LANDS, ETC.
(verb) TO OFFER BUILDINGS, LANDS, ETC. AS SECURITY FOR A LOAN.