Master Pages node has the following properties:

Category	Property
General Properties	Selection
	Transaction
	View
	Prompt

General Properties:

Selection:

Specifies the default value for this property on Selection node. This property specifies the master page that will be assigned to the selection object. If we assign <none> means that the Selection will not have Master Page.
 

Transaction:

Specifies the default value for this property on Transaction node. This property specifies the master page that will be assigned to the transaction object. If we assign <none> means that the Transaction will not have Master Page.
 

View:

Specifies the default value for this property on View node. This property specifies the master page that will be assigned to the view object. If we assign <none> means that the View will not have Master Page.
 

Prompt:

Specifies the default value for this property on Prompt node. This property specifies the master page that will be assigned to the prompt object. If we assign <none> means that the View will not have Master Page.