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| Shakeup
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Drastic and sudden change in organization or direction. When applied to a business it is often due to new ownership, with changes in personnel. |
| Shale
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A finely grained, thinly bedded rock formed by the hardening of clay, which splits easily into layers. |
| Shallow well
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A well with a pumping head of 25 feet or less, permitting use of a suction pump. |
| Shank
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(1) The part of a tool or instrument between the handle and the working part. (2) A straight narrow part between other parts. (3) An appendage on an object so that it is able to be fastened to another. |
| Shape
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(1) The form, characteristic of a particular person of thing. (2) To make fit by cutting or molding. (3) To make by cutting or molding material. |
| Shaper
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(1) Machine with a cutting tool, which is moved across the work by a reciprocating driving arm to make metal parts, gear teeth, etc. (2) Rotary power tools which have cutter blades mounted in the rotary head that is spun by a motor. When the work is guided past the head, the wood is shaped into various moldings. |
| Shaper gauge
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Measuring instrument used to precisely set the blades of a shaper or planer and to check slot widths. Two adjustable inclined planes can be moved to make it thinner or thicker and can be locked into the proper position. |
| Shared appreciation mortgage
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Residential loan with a fixed interest rate set below market rates, with he lender entitled to a specified share of appreciation in property value over a specified time interval. Loan payments are set to amortize he loan over a long-term maturity, but repayment is generally required after a much shorter term. The amount of appreciation is established by the sale of the home or by appraisal, if no sale is made. |
| Shared equity mortgage
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Home loan in which the lender is granted a share of the equity, thereby allowing the lender to participate in the proceeds from resale. After satisfying the unpaid balance of the loan, the borrower splits the remainder of the proceeds with the lender. Shared equity plans often require the lender to buy a portion of the equity by providing a portion of the down payment. |
| Shared equity transaction
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Situation where two buyers purchase a property with one as the resident co-owner and the other as an investor co-owner. |
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