Building Site.

Building Site.

PREFERRED STOCK — A class of corporate stock entitled to preferential treatment such as priority in distribution of dividends. PREPAID ITEMS OF EXPENSE — Prorations of prepaid items of expense which are credited to the seller in the closing escrow statement. PREPAYMENT — Provision made for loan payments to be larger than those specified in the note. agreement if the borrower pays off the outstanding principal balance of the loan prior to its maturity. PRESCRIPTION — The means of acquiring incorporeal interests in land, usually an easement, by found or otherwise established in the section. PRIMA FACIE — Latin meaning first sight, a fact presumed to be true until disproved.