Benchmark

A permanent reference mark or point established for use by surveyors when measuring differences in elevation.

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Baseline

One of a set of imaginary lines running east and west and crossing a principal meridian at a definite point. Baselines are used by surveyors for reference in locating and describing land under the rectangular survey system (or government survey method) of property description.

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Bargain and sale deed

A deed that carries with it no warranties against liens or other encumbrances but that does imply the grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion.

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Balloon payment

The final payment of a mortgage loan that is considerably larger than the required periodic payments, because the loan amount was not fully amortized.

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