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Net Lease |
A lease which provides that all expenses attributable to the real estate are paid by the tenant. Local terminology may require some expenses to be paid by the landlord. |
Net Operating Income |
In the valuation process the annual income available after operating expenses and real estate taxes to service the debt and provide the owner with a return on his investment. |
Net Yield |
The interest rate return on a mortgage after deducting the percentage equivalent of mortgage servicing from the coupon rate of the mortgage. |
Non-conforming Use |
A property which is being used in contravention of current zoning by-laws but is permitted to remain because it pre-dates the enactment of the zoning by-laws. |
Non-Disturbance Agreement |
An agreement that permits a tenant under a lease to remain in possession despite any action by a mortgagee. |
Notary (Quebec) |
One authorized by the state to take acknowledgements and oaths. In Quebec a notary must have a law degree. He specializes in real estate, wills, estates and like matters. He performs title searches and prepares authentic deeds. |
Notice to Quit |
An eviction notice. |
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