Place where two sections of concrete meet to form a bond.
Construction loan
Short-term loan used during the construction of a building or home. Funds are disbursed in stages, according to completed amount.
Construction management contract
Contract between an owner and the general contractor who is responsible hiring and supervising the trades and tasks necessary to build a structure.
Construction specifications
Commonly referred to as "specs" these detailed descriptions consist of all items necessary to complete the construction of a building, including drawings and blue prints that outline the technical standards.
Construction-to-permanent loan
A construction loan, which can be converted to a long-term traditional mortgage upon completion of the construction.
Constructive
Definition given to an act, fact or thing through legal interpretation.
Constructive annexation
The consolidation of items that have been considered a part of property but are not actually joined to it or owned by it. Use over an extended period of time establishes a right to continued use.
Constructive eviction
Breaking of a lease by a tenant due failure of landlord to keep premises habitable.
Constructive notice
When a fact is a matter of public record, the law presumes that everyone has knowledge of that fact.
Constructive receipt
Tax concept whereby income not actually received, but which could be received, is considered to be constructively received and must be reported.
