Real Estate Terms P

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Planned Unit Development (PUD) - Also labeled as a master planned community. Development where common areas are owned by the homeowners.  Upkeep is up to the homeowners association and paid for by the HOA dues.

Plat - The recorded map of a lot, subdivision or community, showing buildings, property lines and easements.  The information is used by the county recorder in regards to the ownership of property.

Porte-cochere  - (pronounced PORT koh SHARE) a french word that is used to describe a porch or portico-like structure covering a driveway at the entrance of a building through which it is possible for a horse and carriage or car to pass to provide shelter while entering or leaving a vehicle.  Also known as a carriage porch.  The porte-cochere was a feature of many late 18th and 19th-century mansions and public buildings, like Buckingham Palace for example.

Primary Residence - The place that is considered your permanent place of residency.  For example, if you own more than one house, the house you live at the most would be considered your primary residence.

Real Estate Glossary