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GLOSSARY
Zero balance
The wonderful appearance of a zero balance occurs when a borrower has paid of their loans and there is nothing left to repay.
Zero capital gains rate
Zero capital gains rate is the 0 percent tax rate that's applied when an individual sells property in a designated enterprise zone. The existence of the zero capital gain rate is intended to stimulate investment in designated communities.
Zero-down-payment mortgage
A zero-down-payment mortgage is a real estate property loan that finances 100 percent of the purchase price. A borrower who funds a zero-down-payment mortgage will be required to purchase private mortgage insurance.
Zero-lot line
When a house is built on a lot so that one wall is on the property boundary.
Zeros - Zero-coupon CDs
Zeros, or zero-coupon CDs, are time deposits that pay interest at maturity, rather than at regular intervals.
Zone of possible agreement
Zone of possible agreement describes the potential common ground between two negotiating parties. Each party in a negotiation should have points on which they will and will not compromise. The zone of possible agreement encompasses the points on which both sides are willing to compromise.
Zoning
Areas that are designated by the local government where certain types of land uses are allowed. An area may be zoned for residential or commercial building.
Zoning ordinances
Local laws that establish building codes and usage regulations for properties in a specified area.
Zoning variance
When an exception is made in a zoning ordinance by the local government. These are granted on a case by cases basis.