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| Lampholder
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Lighting fixture that is a simple holder for a light bulb. |
| Lanai
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An open-sided room most often found in warm climates. |
| Land
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The surface of the earth. Real estate that is often held for investment purposes. |
| Land contract
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A type of creative financing in which a down payment is made and periodic payments are made at intervals to pay off the balance. The purchaser may use, occupy and enjoy the land but no deed is given by the seller until the total price is paid off. |
| Land cost
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Total cost of purchasing a land parcel, including purchase rice, closing costs, commission, and finance charges. |
| Land development
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Process of developing raw land by planning and building homes, shopping centers, schools or churches. Initially, the development process includes construction of streets, sewers, utilities and other resources. |
| Land economics
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The branch of economics that concentrates upon the economic attributes of land and the economics of agriculture. |
| Land lease
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Lease that includes only the land and no structures. |
| Land loan
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Loan used to purchase land. There is more risk connected with the purchase of unimproved land than improved property, therefore, a mortgage for unimproved land will usually have a higher interest rate. |
| Land reclamation
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The process of upgrading unusable land through making physical improvements, such as draining and filling a swamp. |
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