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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Building Permit


Synonyms:authorization, construction permit, permission
Acronyms &
abbreviations:
BPmt
Filed Under: abbreviation, real-estate
Tags: classifieds, property listing, realty
 

Definition of building permit (BPmt)

building permit (BPmt)
1. A permit issued by a local government giving authorization to construct a building or repair an existing structure.

Related Terms and Acronyms:

  • building code (BC)   Regulations that govern design and materials used in construction.
  • building restrictions   Local regulations that limit the size, height, materials, colours, uses, locations, placement and other characteristics of houses.
  • certificate of occupancy (CO)   Authorization by a local government giving permission for someone to live in or use a building that has just been constructed or renovated.
      ➥  Zoning bylaw.
  • 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 progresses.
  • controlled growth   A set of restrictions set by local government that governs the amount, type and density of new construction.
  • field changes   Modifications made to a building on-site.
  • historic structure   Important structure significant to history
  • illegal view   The existence of any exterior openings in a building which creates an illegal view of adjoining lands.
  • key lot   A lot of which ownership is essential in acquiring a piece of land for development, either because of its strategic location or the timing of the acquisition.
  • zoning   Areas within a city limits in which certain types of land uses are allowed. For example, a zoning ordinance might permit houses but not factories in a neighbourhood.

More Related Terms and Acronyms

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