Method of obtaining title to property through adverse possession, such as open, notorious, and continuous use of the property for a statutorily prescribed period of time.
Prescriptive easement
Passage through the property of another, by long term usage without objection by the owner, which establishes precedence, which common law considers that a right has been established.
Present value
The amount of money required to secure a specified cash flow at a future date at a specified return.
Present value analysis
Way of valuing real estate that computes the discounted present value of an expected stream of income, including rental income and future capital gains or losses.
Present value of annuity
The value now of a level stream of income to be received each period for a finite number of periods.
Present value of one
The value today of an amount to be received in the future, based on a compound interest rate.
Present value tables
Pre-calculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates.
Preservation district
Zoning designation covering a sensitive environmental area, parkland, scenic area or historic district, and placing especially strict limitations on private landowners' and nonowners' freedom to change the essential character of sites within the district.
Preservative
Chemical that protects from deterioration, rot or infestation of materials, such as wood. Copper napthenate and pentachlorophenol are commonly used as preservative for wood that is exposed to such conditions.
Press brake
A mechanical device used to form sheet metal into desired shapes and profiles.
