The mortgage debt existing on a building used for cooperative housing. While each co-op tenant-shareholder is obligated for a portion of the loan, this debt is separate from the loans that may have been used to purchase the individual co-op shares.
Master plan
Document that describes, in narrative and with maps, an overall development concept including both present property uses as well as future land development plans. The plan may be prepared by a local government to guide private and public development or by a developer on a specific project.
Master planned community
Development built according to a plan that includes commercial buildings, educational facilities, homes and community facilities.
Mastic
(1) One of a variety of quick drying, pasty cement for use when gluing tiles to a wall. (2) Adhesive consisting of asphalt and nondrying oil. This type of adhesive must be heated to use. (3) Construction adhesive, which is usually applied from a caulking gun.
Mastic spreader or trowel
Thin metal serrated edge blade with curved handle, used to spread mastic in ridges, which are spread out once the pieces are pressed together.
Mat
(1) Also spelled matte, it is a dull surface with no shine. (2) A flat coarse fabric made of woven hemp, rope, straw, etc. to be used as a floor cover. (3) Structural surface of a flat, smooth, layer of asphalt or concrete.
Mat foundation
Slab foundation for a structure, constructed of reinforced concrete.
Match line
Mechanical drawing lines, which match a portion on one drawing with a portion on another drawing, usable with large building sections.
Matchboards or matched boards
Boards that are purposely milled so that they will fit tightly with each other, such as tongue and groove.
Matched boards
Boards whose edges are cut to fit tightly together.
