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There are 12 entries in this glossary.
All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Term Definition
Latin for "we command." A writ of mandamus is an "Extraordinary Remedy" used by a superior court to require a court or tribunal of inferior jurisdiction to exercise a jurisdiction that it has or to perform a certain act. A writ of mandamus is the opposite of an order to cease and desist, or stop doing something (an injunction).
Market Value on Open Market (Valeur marchande sur le marché libre)
(iii) A reasonable turnover period. A quick or forced sale is not assumed. ln addition, a seller could receive "a desired price" if willing to wait an unduly long time to find a buyer. Neither of these cases meets the condition of market value. As of the date of appraisal, the appraiser must ascertain the typical turnover period for properties of the type being appraised. (iv) Payment consistent with the standards of behavior of the market. Typical or normal financing and payment arrangements are assumed. Usually, this will not involve an all-cash payment by the purchaser, and it does not mean especially favorable financing to attract a buyer to the seller's price.
Median Proportion (Proportion médiane)
The median proportion is an indicator of the general level of values entered on the assessment roll of a municipality. Established after the filing of the assessment roll, the median proportion is the central tendency of a distribution of individual proportions. It connects the selling prices of properties that have been subject of real estate transactions with their assessment as entered on the current assessment roll. The measured proportion is considered as representative of the general level of the roll and, therefore, should be the tendency for each of the values that are entered.
Methods Used to Estimate Cost New (Méthodes servant estimer le coût à neuf)
- Quantity Survey Method The most comprehensive and accurate method of cost estimating is the quantity survey method. A quantity survey is a computation that reflects the quantity and quality of aIl materials used and aIl categories of labour hours required. Unit costs are applied to these figures to arrive at a total cost estimate for materials and labour; then the contractor adds a margin for contingencies, overhead, and profit. - Unit-In-Place Method ln the unit-in-place, or segregated-cost, method, unit costs for various building components as installed are applied to the number of components or to linear, area, volume, or other appropriate measures of these components. Using this method, the appraiser computes a unit cost based on the actual quantity of materials used plus the labour of assembly required for each square metre of area. The costs are taken out of guides of which the most widely spread are "Marshall & Swift Valuation Service" and the "Manuel d'affaires municipales du Québec". - Comparative-Unit Method The comparative-unit method is used to derive a cost estimate in terms of dollars per unit of area or unit of volume. The method employs thknown costs of similar structures adjusted for market conditions and physical differences. Indirect costs may be included in the unit cost or computed separately. If the comparable properties and the subject property are in different construction markets, the appraiser may need to make an adjustment for location. - Cost-Index Trending Method The Cost-Index Trending Method assumes that the replacement cost is simply the original construction cost times a cost index.
Minutes (Procès-verbal)
The very purpose of a report is to highlight the deliberations of the meeting and the results of the voting and counting of votes on each resolution validly presented at the meeting of owners.
Mixed-use building (Immeuble plurifonctionnel ou à usages multiples)
Building combining premises used for different purposes.
Modular building (Construction modulaire)
A modular building is a sectional prefabricated building that consists of multiple sections called modules. "Modular" is a method of construction. The modules are six sided boxes constructed in a plant, then delivered to their intended site of use. Using a crane, the modules are set onto foundations and joined together to make a building. The modules can be placed side-by-side, end-to-end, or stacked up, allowing a wide variety of configurations and styles in the building layout.
Modus operandi
Latin Expression: Modus operandi (plural modi operandi) is a Latin phrase, approximately translated as "method of operation". The term is used to describe someone's habits or manner of working, their method of operating or functioning. In English, it is often shortened to M.O.
Money Market (Marché monétaire)
The market in which short-term capital is raised, invested, and traded using financial instruments such as treasury bills, bankers' acceptances, commercial paper, and bonds maturing in one year or less.
Moratorium (Moratoire)
From latin expression moratorius: delay, is a term of law which means a decision granting a delay or a voluntary suspension of an action.
Mortgage or Hypothec (Hypothèque)
A hypothec (or mortgage) is a real right on a movable or immovable property made liable for the performance of an obligation. It confers on the creditor the right to follow the property into whosever hands it may be, to take possession of it or to take it in payment, or to sell it or cause it to be sold and, in that case, to have a preference upon the proceeds of the sale ranking as determined in the Civil Code. A hypothec is merely an accessory right, and subsists only as long as the obligation whose performance it secures continues to exist. The hypothecary rights conferred by a hypothec may be set up against third persons only when the hypothec is published in accordance with the Civil Code or the Book on Publication of Rights.
Municipal Courts of Quebec (Cours municipales du Québec)
There are 86 municipal courts located across Québec, established by the Act respecting municipal courts. Each court is presided over by a municipal judge. Municipal courts have limited jurisdiction in civil matters, exercised mostly in connection with municipal tax claims. They hear cases involving offences under municipal by-laws and Québec statutes such as the Highway Safety Code. Municipal courts are also authorized to hear and decide cases concerning offences under Part XXVII of the Criminal Code, which are criminal offences punishable on summary conviction.
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