Definition of Overhang

Overhang

Part of the roof that hangs over the wall.

Cornice

overhang of a pitched roof, usually consisting of a fascia board, a soffit and appropriate trim moldings.

Dentil

One of a series of small projecting rectangular blocks forming a molding under an overhang, most common in colonial-style homes.

Eaves

The projecting overhang at the lower edge of a roof.

Ice Dam

A condition which can occur with snow and freezing conditions. When snow or ice melts on a roof over a heated or partially heated attic space, the melting water may refreeze over an unheated areas such as a roof overhang. This re-frozen water may create a "dam" and allow additional melt water to back up under shingles and cause leaks (Illustration "A"). Solutions include: proper roof venting and insulation (Illustration "B"), membrane roofing or roofing underlayment, and heat tapes. Once an ice dam occurs, remedies are difficult and or dangerous. Working on a frozen roof should be avoided, as should the use of any open flames. The use of hot water to melt the ice may help, it may also increase the amount of leakage.

Rake

Refers to the slope of the roof at the end of a gable, where the outside part of the overhang forms an upside down V.

Soffit

The underside of the roof overhang or porch ceiling that covers the rafter bottoms. This horizontal surface usually has vents to allow air into the attic.

Creditor Proof Protection

The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
The provincial insurance acts protect life insurance products which have a family class beneficiary. Family class beneficiaries include the spouse, parent, child or grandchild of the life insured, except in Quebec, where creditor protection rules apply to spouse, ascendants and descendants of the insured. Investments sold by other financial institutions do not offer the same security should the holder go bankrupt. There are also circumstances under which the creditor proof protections do not hold for life insurance products. Federal bankruptcy law disallows the protection for any transfers made within One year of bankruptcy. In addition, should it be found that a person shifted mOney to an insurance company fund in bad faith for the specific purpose of avoiding creditors, these funds will not be creditor proof.

Fiat Money

Fiat MOney is paper currency made legal tender by law or fiat. It is not backed by gold or silver and is not necessarily redeemable in coin. This practice has had widespread use for about the last 70 years. If governments produce too much of it, there is a loss of confidence. Even so, governments print it routinely when they need it. The value of fiat mOney is dependent upon the performance of the economy of the country which issued it. Canada's currency falls into this category.

First To Die Coverage

This means that there are two or more life insured on the same policy but the death benefit is paid out on the first death only. If two or more persons at the same address are purchasing life insurance at the same time, it is wise to compare the cost of this kind of coverage with individual policies having a multiple policy discount.

Last To Die Coverage

This means that there are two or more life insured on the same policy but the death benefit is paid out on the last person to die. The cost of this type of coverage is much less than a first to die policy and it is generally used to protect estate value for children where there might be substantial capital gains taxes due upon the death of the last parent. This kind of policy is also valuable when One of two people covered has health problems which would prohibit obtaining individual coverage.

Money Laundering

This is the process by which "dirty mOney" generated by criminal activities is converted through legitimate businesses into assets that cannot be easily traced back to their illegal origins.

Underwriter

This could be the person (broker or agent) who helps you choose the proper type of life insurance or disability insurance and the insurance company for your Particular needs. This could also be the person at the insurance company's head office who reviews your application for coverage to determine whether or not the insurance company will issue a policy to you.

Life Underwriter

Insurance Agent.

Non-participating Policy

A type of insurance policy or annuity in which the owner does not receive dividends.

Participating Policy

A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.

Underwriter

Person that uses various types of evidence to evaluate the insurability of a client.

Underwriting

Evaluating and classifying potential risk of a client.

Earnest money

A deposit made by potential home buyers during negotiations with the seller. The sum shows a seller that a buyer is serious about purchasing the property. The mOney usually is counted toward the down payment.

Area Walls

Corrugated metal or concrete barrier walls installed around a basement window to hold back the earth.

Balloon Framed Wall

Framed walls (generally over 10' tall) that run the entire vertical length from the floor sill plate to the roof. This is dOne to eliminate the need for a gable end truss.

Barge Board

A decorative board covering the projecting rafter (fly rafter) of the gable end. At the cornice, this member is a fascia board.

Baseboard

Any board or molding found at the bottom of an interior wall.

Board Foot

Measurement of lumber that is the equivalent of 144 cubic inches.

Built-Up Roof

A roofing composed of three to five layers of asphalt felt laminated with coal tar, pitch, or asphalt. The top is finished with crushed slag or gravel. Generally used on flat or low-pitched roofs.

Bull Nose Drywall

Rounded drywall corners.

Crown Molding

A molding used on cornice or wherever an interior angle is to be covered, especially at the roof and wall corner.

Drive Under

A style of home where the garage is located in a basement.

Fascia

Horizontal boards attached to rafter/truss ends at the eaves and along gables. roof drain gutters are attached to the fascia.

Gable End Wall

The triangular end of an exterior wall above the eaves formed under a gable roof.

Gable Roof

A roof that consists of two sloping planes that meet at the ridge or peak. The planes are supported at their ends by triangular, upward extensions of walls known as gables.

Hip Roof

A pitched roof with sloping sides.

aterial used to cover the interior framed areas of walls and ceilings

Knee Wall

A wall-like structure that supports roof rafters.

Load-Bearing Wall

Includes all exterior walls and any interior wall that is aligned above a support beam or girder. Normally, any wall that has a double horizontal top plate.

Nonbearing Wall

A wall supporting no load other than its own weight.

Particle Board

Plywood substitute made of course sawdust that is mixed with resin and pressed into sheets. Used for closet shelving, floor underlayment, stair treads, etc.

Partition

A wall that subdivides spaces within any story of a building or room.

Ridge Board

A horizontal board that serves as the apex of the roof structure.

Roof Valley

The "V" created where two sloping roofs meet.

Roof Vent

A louver or small dome mounted near the ridge of the roof to allow the passage of air through the attic.

Shed Roof

A roof that pitches up further on One side than the other. Shed roofs are also used over some porches.

Soffit

The underside of the roof overhang or porch ceiling that covers the rafter bottoms. This horizontal surface usually has vents to allow air into the attic.

Trombe Wall

A passive solar wall, usually masonry or concrete, used for passing heat from One room (like a sun room or solar garden room) to another.

Wafer Board

A manufactured wood panel made out of 1"- 2" wood chips and glue. Often used as a substitute for plywood in the exterior wall and roof sheathing.

Wall Out

When a painter spray paints the interior of a home.

Zone

The section of a building that is served by One heating or cooling loop because it has noticeably distinct heating or cooling needs. Also, the section of property that will be watered from a lawn sprinkler system.

Zone Valve

A device, usually placed near the heater or cooler, which controls the flow of water or steam to Parts of the building; it is controlled by a zOne thermostat.

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