Dictionary of Business Terms: building permit
building permit
permission granted by a local government tobuild a specific structure at a particular site. The number of residential building permits will forecast the number of housing starts.
Dictionary of Real Estate Terms: building permit
building permit
permission granted by a local government to build a specific structure or reconfigure an existing building at a particular site.
Example: Abel desires to construct a small office building at the corner of First and Main. A building permit must be obtained from the city to allow the construction to proceed legally.
