Real Estate Definitions
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Call Option A mortgage clause that provides the lender with rights to request the remaining balance of a mortgage at any time. Canada Deposit Insurance Corporation (CDIC) A crown corporation that provides deposit insurance for protection against the loss of deposits made with other member financial institutions. Canada Education Savings Grant A federally introduced program in which the Government will invest, in the form of grants, with parents who save for their children's education through Registered Education Savings Plans (RESPs). The government will add to contributions made by parents to an RESP by 20% up to a yearly maximum of $400 per beneficiary. Canada Savings Bonds (CSBs) A bond issued by the Canadian Government as a safe method for Canadians to aquire savings. The bonds, which are a form of debt, can be cashed with proper identification at any time through most Canadian financial institutions. Canadian Bankers Association (CBA) A professional industry association that provides information, research, advocacy, education and operational support services primarily to the banking industry. Canadian Depository for Securities Limited (CDS) An agency responsible for the automatic processing and clearing of all securities transactions in Canada. Canadian Payments Association (CPA) An association that operates a national clearing system for financial institution payments. This association is comprised of several financial institutions in conjuntion with the Bank of Canada. Cancellation Clause A precaution or provision in a lease or contract that details the conditions under which the parties involved can terminate the agreement. Cap The upper most limit on the amount the interest rate can increase during a single time period of an adjustable-rate mortgage. Every ARM has two caps: a periodic cap, which limits the periodic changes to the interest allowed in the loan agreement, and a lifetime cap, which governs the total increase that can be imposed during the life of the loan. Capital Wealth in the form of money or property that is used to make money or that is accumulated in a business by a person, partnership, or corporation. Capital Adequacy Ratio A ratio of total capital divided by risk-weighted assets and risk-weighted off-balance sheet items. A bank is expected to meet a minimum capital ratio of 8.0% unless a higher ratio is specifically prescribed by the Superintendent of Financial Institutions. Capital Asset An item that is owned for investment or personal reasons. Such items can include stocks, bonds, collector cards, or even stamp collections. When you sell a capital asset, depending on the price, you earn a capital gain or a capital loss. Capital gains are taxed at a special rate, and losses can be used in many cases to reduce the amount that is taxed. See also "Capital Gain" or "Capital Loss." Capital Expenditure The cost of making an improvement or renovation to a property. Capital Gain Distribution When the fund sells some of its assets, you receive capital gain distributions or a portion from the sale. This distribution is regarded as a capital gain, not as ordinary dividends such as the interest gained from a bank account. It is important to separate capital gain distributions from ordinary dividends because capital gains are taxed more favourably. See also "Ordinary Dividends." Capital Gain or Loss The difference between the price paid for an investment and the price at which it is sold. In simple terms, it is either a profit or loss on the investment. Equity and growth funds are two types of investments that earn capital gains or losses. Capital Gains The profit made by the seller when real estate or other capital assets are sold. Capital gains are taxed more favourably than earned income. However, this can be dependent on your tax bracket and the length of time you owned the asset before it was sold. You could pay approximately one-third to one-half less tax than you would pay on the same amount of earned salary. See also "Capital Asset." Capital Gains Tax A tax on the profits from the sale of real estate or investments. Capital Improvement Any permanent structure or asset that is added to a property in order to increase the property value. Capital Investments Funds that are used to buy permanent fixed assets for a business. This might include machinery, land, or buildings as opposed to those expenses incurred on a day-to-day basis. Capital Loss When an asset is sold for less than what you paid, or less than its adjusted basis, it is a capital loss. However, when it comes to taxes a capital loss is not always bad because you can use it to reduce the amount of income being taxed by the amount of the loss, up to $3,000 per year. If your loss is more significant, the excess (or capital loss carryover) can be carried forward indefinitely until the total loss is used. Capitalization An estimate of the value of a rental or commercial property using the rate of return on investment and the property's annual net operating income. Capitalization Rate An estimated percentage rate of return that a property will produce on the owner's investment. Capitalized (CAP) cost A leasing term that refers to the price of the vehicle. This cost is negotiable and can be reduced by a cash down payment, trade-in, or a manufacturer's rebate. The lower the capitalized cost, the lower the monthly lease payment. This cost can also be increased by the loan acquisition fee or any costs that remain from a previous lease. Captive Finance Company A finance company that is connected to a certain dealer or manufacturer. Caravan A caravan is when a group of real-estate agents go out together to look at properties recently listed for sale. Card Holder Agreement A written agreement or contract between a credit card holder and the credit issuer that details the terms and conditions of a credit card account. This agreement must include the Annual Percentage Rate, the monthly minimum payment formula, the annual fee if applicable, and the cardholder's rights in billing disputes. Changes to the agreement can be made at any time by the issuer with prior written notice. Carport An open-sided shelter used for vehicles, usually formed by a roof projecting from the side of a building. carrying costs The cost of maintaining a property. For example, mortgage payments, property taxes, and the expenses of utilities, repairs and upkeep. Cash Advance Fee A fee charged by the bank for using credit cards to withdraw money generally from an ATM or banking machine. This fee can be a flat fee per transaction or a percentage of the amount being advanced. For example, the fee may be set as: "2% / $10". This means the cash advance fee will be the greater of 2% of the cash advance amount or $10. Banks often limit the fee to a certain dollar amount. Cash Cards Cash cards contain a pre-set dollar amount that can then be used to purchase goods and services at participating retailers who have special cash card readers. The cash card reader extracts the value of the purchase from the card and adjusts the remaining balance for future use. For example, many retailers offer gift certificates in the form of cash cards to be used at their establishment. It is important to remember that these cards are like cash with no built-in security, so anyone can use them. Cash Collateral Cash or cash equivalents, such as securities or documents of title, as specified in the Bankruptcy Code in which both the estate and another party have a vested interest. Cash Flow The amount of money (after expenses are subtracted) that is generated by an investment or a business during a specific time period. One measure of cash flow is earnings before interest, taxes, depreciation, and amortization. Cash flow is often considered to be a company's most important financial statistic because money drives business. Cash Flow Forecast An estimate of time and the amount of money that will be received and paid out of a business. The cash flow forecast typically records cash flow on a month-by-month basis for a two year period. Cash Method The form of accounting used by most individuals where income is reported in the year it is received, but expenses are deducted in the year that you pay taxes. For example, if you remodel a kitchen and bill the client in December 2004, but do not receive payment until January 2005, the funds are counted as income in 2005 and not when the work was done in 2004. Cash-out Refinance This type of refinance is when a borrower takes out a new loan on their existing property, but the new loan amount is greater than the amount of the original mortgage. The difference is then taken out in cash. Casualty and Theft Loss A loss of property or life caused by a sudden, unexpected, or uncommon event. Hurricanes, earthquakes, fires, floods, or thefts are just a few examples of events that can cause casualty and theft losses. A portion of these losses can be used as an itemized deduction. Caveat A charge or instrument placed on land title. A caveat is also a formal notice filed with a court or officer to suspend a proceeding until the person who filed the caveat is given a hearing. Certificate of Occupancy Written permission or authorization by a local government for an individual or individuals to live in or occupy a newly constructed or renovated building. Certificate of Sale After legal confirmation, an affidavit is issued at a judicial or tax sale to the buyer of a property. The buyer is then entitled to the deed of the property. Certificate of Title A written document which validates the title to a property. This means the property is legally vested in the present owner. Chain of Title Legal records that track the ownership of a property from the most recent owner to the original owner. Change Frequency The scheduled time period in which an adjustable-rate mortgage changes. Change Order A written formal document that details any alterations made to construction plans. Chartered Banks Financial institutions that are regulated under the Bank Act. Chartered banks are designated as Schedule I or Schedule II depending on their ownership. Chattel An article of movable personal property. Chattel Mortgage A loan that is certified by movable personal property such as a mobile or trailer home. Cheque Book A book containing blank forms known as cheques. Cheque books are generally issued to individuals who hold chequing accounts. Cheque or Check (U.S.) A blank form that is used as a written order directing a bank or banker to pay money as therein stated. Cheques can be personalized or non-personalized. Cheque Clearing When you write a cheque to a person or a company, the cheque is typically cashed when deposited into a bank account. Your chequing account is then debited for the amount of the cheque and the cheque is said to have "cleared." Cheque Hold The length of time that a financial institution can legally hold a cheque before crediting a customer's account balance and allowing the customer to use the funds. Cheque Register A book or log where you can record the details of every transaction made in your chequing account. Cheques Returned with Statement Cheques that are cancelled are returned to the account holder in a monthly statement. Child Support Child support is paid on a monthly basis by one parent to another to assist with the care of a child or children. Child support is usually paid as a result of divorce or separation. Such payments must be received continuously for one year to be considered as income to qualify for a loan. Child Tax Credit A tax break for those who claim eligible dependent children on their tax returns. Circuit Breaker 1. An electrical device used to turn power off and on in sectors of a building and to limit the flow of electricity through a circuit for safety purposes. 2. In taxes, a circuit breaker is a tax credit that reduces property taxes for the elderly and permanently disabled. The credit is dependent on the amount of income earned which means the more you make, the lower the credit. Claim A creditor's demand for something due usually a payment from a debtor or the debtor's property. A claim can also be a demand for payment in accordance with an insurance policy or other formal arrangement. Classic Card A brand name for the standard card that is issued by VISA. Classified Property Tax A municipal government's levy on real estate that varies depending on the use of the property. Commercial property is typically taxed more heavily than residential property where a classified property tax exists. Clear Title A title that is not burdened by liens or legal questions is considered to be clear. Clearing and Settlement A process within the banking system that allows banks to collect or pay out for items drawn on or paid into accounts within their institution. This process enables banks to accept cheques and bank drafts from other financial institutions for deposit. The Canadian Payments Association operates Canada's clearing system. Client-based Bank clients can use a money management software application on their personal computers to access their bank accounts using a modem and a phone line. Clients are then able to conduct bank transactions from the comfort of their own homes. Closed-account Fee The bank may charge customers a fee for closing accounts, especially if the account is closed before a pre-determined length of time. Closed-end Lease The most common type of car lease. The lessee may return the car at the end of the lease term, pay any end-of-lease costs, such as the disposition fee, and the lease agreement is over. In a closed-end lease, the lender assumes the risk of predicting the value of the vehicle (its residual value) at the end of the lease's term. Closed-end lease payments are somewhat higher than open-end lease payments. Closed Mortgage A mortgage product that has a strict repayment schedule. Payment amounts are pre-set with optional limited lump sum payments and payment increases as detailed in the loan agreement. Closely Held Schedule II banks may be closely held meaning that one party or owner can hold more than 10% of the outstanding shares. Schedule I banks are prohibited from this type of ownership. Closing In real estate, the closing refers to the completion of the real estate transaction. Before closing can occur, there are a number of things that must happen. For example, the deed must be delivered to the buyer, the money must be transfered for the purchase price, the notes must be signed, and the closing costs must be paid in full. Closing Costs The various costs or expenses associated with closing a real estate transaction. Such costs can include paying for title insurance or appraisal fees. It is important to remember that these costs are over and above the purchase price of the property. closing date The date a buyer takes possession of a property title. Cloud on Title A claim on or against the title to a property that could decrease the ability to transfer ownership of the property to a buyer. Cluster Development A declaration made by a local government which stipulates the population density of a planned development. The developer is allowed to use discretion and make some areas of the development more densely populated than other areas. CMHC CMHC is an acronym for the Canadian Mortgage and Housing Corporation. This Federally run institution provides banks and lenders with mortgage insurance (which is not the same as life or property insurance). If a borrower defaults on their mortage loan or there is a foreclosure on the property, CMHC assumes responsibility and reimburses the bank or lender the entire mortgage amount. This insurance is typically required when a borrower has less than 25% equity or down payment and it must be paid in advance (or it can be added to the mortgage). See also "G.E. Capital." Co-branded Card The most common type of co-branded credit cards are those issued by banks in partnership with other retail companies. For example, General Motors, Shopper's Drug Mart, and Starbucks all offer co-branded credit cards where their names appear on the card with the name of the issuing bank. Retailers often form these partnerships to attract clients by offering special shopping incentives if you use the card. Many of these cards, especially those affiliated with airlines, charge high annual fees because of their popularity among consumers. Co-housing An agreement within a residential building where each unit has access to a shared or common space. The common space typically includes kitchen facilities, a dining area, laundry facilities, and even recreation space. This type of living arrangement is also refered to as cohousing, cooperative housing, or community housing. Co-maker An individual who co-signs a promissory note. In doing so, the co-maker is responsible for the loan if any of the other co-signers back out or renege on their promise to repay the loan. co-mortgagor A second borrower who signs a mortgage contract to provide financial assistance for the loan requirements. Co-signer An individual who signs a promissory note in conjunction with one or more additional parties. All parties are responsible for the debt repayment once the papers are signed. This means that any one party could be responsible for repaying the entire debt if any of the other parties back out or renege on the repayment. Coinsurance An insurance policy that allows the insurer and insured to share costs incurred after the deductible is met. Collateral Property that is accepted as security for a loan or other financial obligation. Collection The efforts used to bring an overdue mortgage, or other debt current, and the filing of necessary notices to proceed with foreclosure when necessary. Collusion A private and fraudulent agreement made by two or more parties to purposely defraud others. Combination Account An account that offers the benefits of both savings and chequing accounts. You can write cheques and be paid interest if you have sufficient money in the account. Combined Loan-to-value (CLTV) The connection between the unpaid principal balances of all the mortgages on a property (first and second usually) and the property's appraised value (or sales price, if it is lower). Commercial Bank A financial institution that provides a wide range of services to its customers. Such services can include chequing and savings accounts, business loans, and credit cards. Commercial Banking Commercial banking centres serve small to medium-sized businesses such as franchising, leasing and cash management services. Commercial Paper Unsecured notes issued by companies that mature within nine months. Generally, commercial paper is issued only by the larger and more credit worthy companies. Commercial Property A parcel of land in a district that is zoned strictly for business. Commingling Lumping together money from different sources so the sources cannot be distinguished. Commission A fee paid to an agent for negotiating a real estate or loan transaction, often expressed as a percentage of the property selling price. Commitment A written agreement from a lender promising to lend money on certain terms for a specified time period. Commitment Fee A fee paid by a borrower to a lender who promises to lend money on certain terms for a specified time period. Commitment Letter A formal document supplied by a lender to a home buyer that details the terms under which the lender will lend money to the home buyer. Also known as a "loan commitment." This letter indicates the contingencies that must be cleared prior to funding the loan. Common Area Assessment A levy against individual unit owners in a condominium or planned unit development to pay for upkeep, repairs, and improvements to the property's common areas, such as hallways, elevators, parkades, swimming pools, and gym facilities. Common Areas Areas of a building or land and the amenities owned (or managed) by a planned unit development, or condominium project's homeowners' association, or a cooperative project's cooperative corporation that are used by all of the unit owners who share in the common expenses of their operation and maintenance. Common areas include swimming pools, tennis courts, and other recreational facilities, as well as common hallways of buildings, parkades, means of ingress and egress, etc. Common-interest Development A housing area where the owners belong to a homeowner's association that owns and maintains all common areas. Common Law A system of jurisprudence based on judicial precedents rather than statutory laws. Common law originated in the unwritten laws of England. Community Bank A bank that is locally owned and operated, but is not part of a bank holding company. Also referred to as an independent bank. Community Property Possessions, real estate, and profits that spouses (husband and wife) acquire during marriage, excluding gifts and inheritances, are considered community property. In the event of divorce, community property is divided equally between spouses. Comparables or Comps Refers to "comparable properties," that are used for comparative purposes in the appraisal process. Comps are recently sold properties that are similar in size, location, and amenities to the property being sold. Comps help an appraiser determine the fair market value of a property. Comparative Market Analysis An approach for estimating the value of a property by comparing the sales prices of similar properties that have recently sold. Competent Legally qualified or fit to perform an act. Able to distinguish right from wrong and to manage one's affairs. Compound Interest Interest that is calculated by adding the interest earned in the current period to the principal and figuring the next period's interest on this "compounded" total amount. Compounding Method (CM) Used in Bank rate tables. These include: S--Simple interest. A--Compounded annually. H--Compounded semi-annually. Q--Compounded quarterly. M--Compounded monthly. D--Compounded daily. Condemnation The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use. Conditional Commitment A promise made by a lender to give a loan if the borrower meets the specified requirements. Condominium A structure containing two or more housing units. The interior space of each unit is individually owned while the remaining property (land, building, and other amenities) is owned in common by all the owners of the individual units. Condominium Conversion When an existing building such as a rental project changes to the condominium form of ownership. Confirmation After approval is given, all of the debtors' pre-petition debts are eliminated as provided by the plan. Conforming Loan A mortgage that is eligible for purchase or securitization by one of the government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. Requirements include size of the loan, type, and age. Consent Judgment The legally binding approval given by a judge that pertains to a written agreement by the parties of a lawsuit. Consideration 1. Something promised, given, or done that has the effect of making an agreement a legally enforceable contract. 2. A factor to be considered in forming a judgment or decision. Construction Budget The total sum of money allocated for a particular purpose. In construction, the money that is set aside for building a structure. Construction Loan A short-term interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work advances towards completion. Construction to Permanent Loan A loan that finances the construction, then for a long-term, traditional mortgage, as distinct from a construction loan followed by a separate mortgage loan. Constructive Receipt The idea in which a taxpayer does not actually have to take possession of money for it to be taxable. An example of this is when savings account interest is reinvested rather than sent to the account holder as a separate payment. In this case, the account holder constructively received the interest because the earnings were credited to his account and could have been taken out at the owner's discretion. As such, the earnings are taxable. Consumer Bankruptcy A bankruptcy case that is filed to reduce or erase debts that are primarily consumer debts. Consumer Credit Loans for personal use as opposed to business or commercial lending. These loans are typically unsecured and not backed by collateral. Consumer Credit Service A service that offers counselling for creating a realistic budget and a debt repayment plan. The service also offers advice for working with creditors to ensure that debts are paid back over a certain time. Consumer Debts Debts incurred due to personal needs as opposed to business reasons. Consumer Price Index An index that measures movements in the average price of products and services typically consumed by Canadian families. Contiguous Lots Parcels or pieces of property that are located next to each other. Contingency A condition that must be met before a property sale can be completed, such as a home inspection or mortgage approval. contingent liability A legal responsibility conditional on a future event such as a law suit or court case. Contract 1. An agreement between two or more parties, especially one that is written and enforceable by law. 2. In real estate parlance, the contract is the legal document by which buyer and seller make offers and counteroffers for a piece of property. The real estate contract describes the property, includes or excludes items in the property, names the price, apportions the closing costs between the parties and sets forth a closing date. When buyer and seller agree on terms and sign the same document, the property is said to be "under contract." More formally known as agreement for sale, purchase agreement or earnest money contract. Contract for Deed An agreement for the sale of property where the buyer takes possession while making payments, but the seller holds title until full payment is received. Also called a land contract. Contract to Purchase A document used by a property buyer and seller to approve the price and other terms of the transfer of title. Also known as an agreement of sale, a purchase contract, or a sale contract. Contractor An individual that agrees to furnish materials or perform services at a specified price, especially for construction work. Contractual Lien A legal claim against property as a result of a voluntary contract, such as a mortgage. Controlled Growth Restrictions set by a local government to control the amount, type, and density of new construction within a certain area. Conventional Mortgage A mortgage that is not insured or guaranteed by CMHC or GE Capital. Conversion Clause A provision that may be present in an adjustable-rate loan agreement which allows the loan to be changed to a fixed-interest rate loan, usually for an additional charge. Convertible ARM An adjustable rate mortgage (ARM) that can be converted to a fixed-rate mortgage under certain conditions. Convertible Mortgage An adjustable-rate mortgage where the borrower has the option at specified times to change into a fixed-rate mortgage. Conveyance A formal written document that transfers title to property. Conveyance Tax A tax placed on the transfer of property in a real estate transaction. Cooperating Broker A real-estate broker who finds a buyer for a property and initiates a negotiation for a share of the commission. Cooperative A residential project owned by a cooperative corporation where the residents own shares giving them the right to live at the residence. Cooperative Mortgage A mortgage loan that enables the borrower to buy shares of a co-op. Cooperative or Co-op A type of ownership where a corporation owns property (usually an apartment building) and the occupants own shares in the corporation equal to their portion of the building. Corporate Banking Banking services for large corporations or firms. This type of banking is designed to deal with major financial transactions that do not generally take place at a personal banking level. Corporate Relocation When an employer transfers an employee to another city and pays moving expenses. Corrective Work Repairs (or maintenance) that are requested by a buyer that must be completed before closing the sale. Correspondent Bank A bank that holds deposits of another bank, usually a smaller bank, and provides various banking services that may not be available to the smaller bank. Cost Basis The original price paid for an investment which is also known as the basis or tax basis. The cost basis includes any commissions or fees paid when the investment was purchased. Cost of Goods Sold An expense shown on an income statement for a business that represents the cost of the inventory sold during the statement period. Cost-plus Contract An agreement or contract where a construction contractor receives a fee based on a percentage of all costs paid for labour and materials. Counteroffer A step in the negotiation process where a seller rejects a purchase offer from a buyer, but then submits another offer with different terms (such as price or closing date) for the buyer to consider. Covenant A formal and binding agreement made in a contract or property deed. covenanter (or guarantor) A person who promises to be responsible for the repayment of a loan. Creative Financing An innovative or unusual way of structuring a mortgage loan to allow the buyer to purchase the property. Credit Access to money or funds by a borrower on the condition of repayment to the lender over a certain period. Credit Bureau A company that collects and sells information about people's credit histories. The company issues credit reports that show how individuals manage debts and make payments. The report also shows how much credit a person still has and whether or not the person has applied for a loan recently. The reports are made available to those who have a legitimate need for the information including the individual being reported upon. Credit Card A plastic card with a coded magnetic stripe that holds information and security measures for a revolving line of credit. The card holder is able to use the card to make purchases by signing a credit card slip at participating retailers or companies. Credit cards have credit limits and interest rates as determined by the card issuer. The card holder's income and credit report will determine the allowable credit limit. Credit History A record of an individual's or company's past borrowing patterns and whether or not debts were repaid on time. Credit Insurance An insurance policy that pays off credit card debt if the borrower loses his or her job, dies or becomes disabled. The structure of protection for a revolving credit card debt is calculated each month to cover only the debt that existed at the last billing cycle. Credit Life Insurance A type of optional life insurance coverage that repays the loan if the borrower becomes disabled. The cost of the policy is often included in the principal amount of the loan. Credit Limit The maximum amount of charges a cardholder may apply to a credit card account as allowed by the credit lender. Credit Line The maximum money amount available in an open-end credit arrangement such as a credit card or overdraft protection. Credit Rating A judgment of a person's ability to repay debts. The rating is often based on a person's current and projected income and past debt payment history. Also called a credit score. Credit Report A report on past behavior regarding a borrower's willingness and ability to repay debt in a timely manner. This report is provided to the bank by an outside agency. Credit Reporting Agency An agency that prepares credit history reports. These reports are used by lenders to determine a potential borrower's financial worthiness. The agency obtains data for these reports from a credit repository as well as from other sources. Credit Repository Simply another term for a credit bureau. Credit Risk The risk of loss assumed under a financial contract that a borrower or a counter-party to a loan or other credit-related contract may default or fail to fulfill its obligations. Credit Score Also referred to as a 'Beacon Score' is a number, between 300 and 900, that reflects a person's credit history. Lenders calculate this number using a computer system as part of the process for assigning rates and terms to the loans they grant. Credit Union A non-profit, cooperative financial institution owned and controlled by the people who use its services, usually a group such as employees in the same company or industry. Credit unions historically have been able to offer lower rates and fees and still operate in the black. Credit unions rely on a financial reserve to absorb unexpected losses from loan defaults or other financial setbacks, and the majority of credit unions carry federal deposit insurance that protects individual accounts up to a specified amount in the event the credit union fails. Creditor An individual or firm to whom or which money or its equivalent is owed. Credits Tax credits are used to reduce the amount of the tax owed. Tax credits are more valuable than deductions because they directly reduce the amount of tax owed, rather than reducing the amount of income that is taxed. Cul-de-sac A dead-end street, often with a broad circle at the end. Curable Defect A problem with a property that can be fixed. Peeling paint is a curable defect whereas being located in a crime-ridden neighborhood is not. Curb Appeal The look or appeal of a house when viewed from the street or sidewalk. current market value The estimated price determined by the recent sale of similar properties. Current Year Tax Tax that is payable in the same or current year, such as property tax. current yield The annual increase in the value of an investment, usually expressed as a percentage. Custom Builder A contractor that builds or remodels houses based on plans submitted by the home owners. Custom Home A house that is built according to the specifications and drawings of an architect generally hired by the home owner. |
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