Lanai
An open-sided room most often found in warm climates.

Land
The surface of the earth. Real estate that is often held for investment purposes.

Land Contract
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
Total cost of purchasing a land parcel, including purchase rice, closing costs, commission, and finance charges.

Land Development
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
The branch of economics that concentrates upon the economic attributes of land and the economics of agriculture.

Land Lease
Lease that includes only the land and no structures.

Land Loan
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
The process of upgrading unusable land through making physical improvements, such as draining and filling a swamp.

Land Residual Technique
An appraisal method of estimating the value of land when given the net operating income and the value of improvements.

Land Sale-Leaseback
Sale of land and immediate leasing back by the original owner, whereupon the original owner can realize the capital value of the property and still retain its use.

Land, Tenements and Hereditaments
Phrase from early English law used to describe al types of real estate property, improvements to he land, and all rights accruing to the land.

Land Use Intensity
A measure of the extent to which a land parcel is developed in conformity with zoning ordinances.

Land Use Map
An official map indicating intensity of land use in a zoned urban area.

Land Use Planning
Activity, generally conducted by a local government, which provides public and private land use recommendations consistent with community policies and is generally used to guide decisions on zoning.

Land Use Regulation
Government ordinances, codes and permit requirements intended to make the private use of land and natural resources conform to policy standards

Land Use Succession
Changes in the predominant use of a neighborhood or area over a period of time. Contributing factors to this change include the physical aging of residents leading to the turnover of ownership, business districts expanded into the area and the physical aging of the building structures.

Land Value Map
Map delineating property values over a designated area.

Landing
A platform at the end, top or bottom of a flight of stairs.

Landlocked
Parcel of land that has no access to a public thoroughfare, except through adjacent property.

Landlord
Person or business owning property that is rented out to tenants.

Landlord's Lien
Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the lease premises.

Landmark
A fixed object serving as a boundary mark for a tract of land, same as a monument.

Landscape
The area surrounding a home, which consists of grass, plantings, etc.

Landscape Architect
Professional, with a degree, who is trained in the design and planning of horticulture.

Landscape Contractor
One who implements the plans of the landscape architect or designer by doing the planting and upkeep.

Landscape Designer
Profession, without a degree, who is trained in the design and planning of horticulture.

Landscape Fencing
Use of shrubs or trees as a boundary around property.

Landscaping
The design and planting of trees, or other plants on a lot.

Lane
1. A narrow country road or city street.
2. A marked strip of road wide enough for a single line of cars or trucks.

Lane Delineators
Brightly colored cones or cylinders which are used as temporary lanes or detours on roadways.

Lantern
1. Transparent case, which holds and protects a light from wind and weather.
2. Open or windowed structure on the roof of a building or the upper part of a tower, to admit light and air.
3. The room containing the lamp at the top of a lighthouse.
4. Light in a lobby, which signals the arrival of an elevator.

Lanyard
1. Cord worn around the neck from which to hang something, such as a knife, whistle, etc.
2. Rope that fastens to a safety belt on one side and a lifeline on the other.
3. Rope used to pull an object.

Lap
1. Round metal rod with an abrasive coating that will smooth the inside diameter of a hole.
2. Using a fine abrasive compound to sand an item.

Lap Cement
Asphalt based cement, which makes a bond when it is used between the overlapped layers of roll roofing.

Lap Joint
Joint where two pieces overlap each other.

Lap Siding
Technique for installing horizontal siding boards in which the bottom edge of one board is lapped over the top edge of the board below.

Lap Weld
Welded overlapping pieces.

Large Scale Integrated Circuit (LSI)
Electronic chip consisting of many semi-conducting components.