The lowest water level reached during pumping operation.
Punch
Round metal tool that has a pointed end, which is used to make indentations or holes in a material. The point is placed against the object and the other side is hammered to drive the point into the material or to drive a nail head even with or below the surface of a board.
Punch list
List, detailing items to be fixed, which is compiled by a buyer prior to closing on a property.
Punching shear resistant
The ability of a material to resist damage from normally expected conditions.
Puncture resistance
The ability of a material to withstand being pierced by a sharp object.
Punitive damages
Also called exemplary damages they are used to penalize the defendant for bad faith, malice, fraud, violence or evil intent and are designed as both punishment and as a deterrent for future actions of the defendant.
Pur autre vie
Latin for though the life of another. A life estate in property is granted to an individual so long as a third party is alive.
Purchase agreement
Document that outlines the purchase price and conditions of the transaction.
Purchase order
Authorization, in writing, to perform a service or supply a material, indicating the cost of such.
Purchase-money mortgage (pmm)
Mortgage obtained by a borrower as partial payment for a property. Type of seller financing which is a mortgage loan from the seller instead of cash for the purchase price of the real estate.
