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PERCENTAGE LEASE A lease whose rental is based on a percentage of the monthly or annual gross sales made on the premises. RANGE A measurement, used in the government survey system, consisting of a strip of land six miles wide, running in a north-south direction. IMPOUND ACCOUNT A trust account established to set aside funds for future needs. NULL & VOID Having no legal force or effect; of no worth; unenforceable; not binding. INCORPOREAL RIGHTS Intangible or non-possessory rights in real property such as easements, licenses, profits and the like. DEDICATION The application of privately owned land to the public for no consideration, with the intent that the land will be accepted and used for public purposes. INTEREST Charge paid for borrowing money, calculated as a percentage of the remaining balance of the amount borrowed. |
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