1. Live trees of merchantable species and sufficient size that they can be profitably harvested and sold. Timber is then milled and made into lumber and other wood products. 2. Forest land covered by trees of suitable size, kind, and quality to be of commercial value.
Timber investment management organizations (TIMOs) are group forms of investment created to oversee the growth and production of timber and other forest products. TIMO's generally take the form of C-corporations, the traditional way that large businesses and investment groups are organized. TIMO's structured as C-corporations (C-corps), however, are at a direct tax disadvantage to other forms of land and business ownership, such as limited liability corporations (LLCs), S-corporations (S-corps), and especially real estate investment trusts (REITs). This is due to the fact that TIMOs and other C-corporations are subject to double taxation - profits are taxed once at the corporate level and again at the individual investor level (as taxes on shareholder dividends).
Terms, Definitions, and Concepts: Finance and Investment, Forestry and Silviculture, Real Estate, Timber Management
A modern approach to communal ownership and use of real estate which permits multiple purchasers to buy undivided interests in real property (which is usually in a resort condominium or hotel) with a right to use the facility for a fixed or variable time period
1. The ownership of and right to own real estate.
2. Documentary evidence of real estate ownership in the form of a deed.
3. The set of circumstances that would allow one to recover or retain ownership of real estate if that ownership was challenged in court. These circumstances often include possession of the land and the existence of a recorded deed showing ownership.
A system of land ownership registration and title to real property under which all registered lands are guaranteed indefeasiblie title by the state.
This system was invented in 1858 by Sir Robert Torrens when he was Premier of South Australia. Under this system, a government Registrar of Titles maintains records of land ownership, including Certificates of Title, in an official Land Register. The Torrens system was implemented due to inconsistencies and problems in proving land ownership under
commom law. Deeds or other instruments registered under the
Torrens system are given legal priority over all other documents, claims, or facts, either recorded or unrecorded.
A land measurement used in the government rectangular survey system (U.S. Public Lands Survey). A township is six (6) miles in length on each side, with a total area of 36 square miles. It contains thirty-six (36)sections, each with an area of 640 acres, for a total area of 23,040 acres. Note that due to the curvature of the earth, a correction of 198 feet must be made every 24 miles. Therefore, many townships actually contain less than 36 square miles due to these corrections.
One (1) township is equal to 36 square miles or sections.
One (1) township is equal to six (6) miles square.
One (1) township equals 23,040 acres.
One (1 township equals 1,003,622,400 square feet.
One (1) township equals 93,239,572 square meters.
One (1) township is equal to 111,514,046.5199 square yards.
One (1) township is equal to 3,686,400.0 square rods, poles, or perches.
One (1) township is equal to 230,400.0015 square chains.
One (1) township is equal to 92,160.3695 roods.
One (1) township is equal to 27,271.9933 arpents.
One (1) township is equal to 9,323.9945 hectares.
One (1) township is equal to 93.24 square kilometers.
1. Articles of personal property annexed, installed, affixed, or attached to leased premises by the tenant, as a necessary part of the tenant's trade or business.
2. A fixture that is essential to the trade or profession of the owner, tenant, or proprietor. Although trade fixtures are often attached to real property, they are considered personal property and are often required to be removed upon expiration of a commercial lease. Ownership of trade fixtures transfers with real property only if the business itself is also sold. Synonymous with furniture, fixtures, and equipment.