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| Printed carpet
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Carpet with pattern applied by methods similar to printing flat textiles and paper. |
| Prior
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Something that came before. |
| Priority
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Something having a higher level of importance or ranking. Preference, precedence. |
| Prism
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(1) Anything that refracts light. (2) Crystalline body whose lateral faces meet at edges parallel to each other. (3) A solid, transparent figure whose ends are parallel, polygonal and equal in size and shape and whose sides are parallelograms. |
| Privacy fence
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Structure erected between two pieces of property. |
| Private mortgage insurance (pmi)
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Insurance on some loans, which protects lenders from possible default by borrower. Conventional loans with down payments of less than 20 per cent of the home value usually require private mortgage insurance (PMI). |
| Private offering
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An offering of securities, stock and/or debt, directly to investors (usually large institutional investors) rather than through the public exchange markets. An advantage of a private placement to a real estate business is that the securities do not have to be registered with the Securities and Exchange Commission. |
| Private property
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Privately owned property. |
| Private sewer
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Sewer that belongs to the building where it is installed but discharges into the public sewer. Also known as a building sewer. |
| Privity
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A successive relationship to or a mutual interest in the same property or rights, established by law or legalized by contract. A private or secret knowledge, as shared between persons. |
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