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NAKED OWNERThe person who owns the right of abusus of the property. | |
NEGOTIABLE INSTRUMENTA written instrument signed by its maker or drawer, containing an unconditional promise to pay a certain sum of money; can be passed freely from one person to another. | |
NET INCOMEWith reference to income producing property, the sum derived after a vacancy allowance and expenses have been deducted from the gross income; generally described as net income before depreciation, and usually defining the income a property will earn in a normal year's operation. | |
NET LEASEA lease in which the tenant pays rent for occupancy, plus maintenance and operation expenses, and usually including taxes and insurance. | |
NET LISTINGA listing which provides that the agent may retain all sums received over and above a net price to the owner as compensation for his services. | |
NET OPERATING INCOMEA property's gross income minus vacancy and unpaid rent losses and all other operating expenses except those due to interest and depreciation. | |
NON-CONSUMABLEA thing that can be enjoyed without altering its substance. | |
NON-HOMOGENEOUSUnlike any other. When referring to land, each parcel is unlike any other, therefore non-homogeneous. | |
NONCONFORMING USE | |
NOTARIAL WILL - Civil Law Term | |