A method of calculating the depreciation of certain property (that property which is used in a trade or business, or which is held for the production of income) at a faster rate than would be achieved from using the straight line method of depreciation

Area measurement (square measure) used primarily in the United States. One (1) acre is equal to 43,560 square feet, 4,046.86 square meters, or 0.4047 hectares.

Latin for according to valuation usually referring to a type of tax or assessment

Title to real property that is free of encumbrances and obligations, including taxation. It denotes absolute or supreme ownership. Strictly defined, allodial title is not subject to county, state, or federal codes, ordinances, or zoning regulations ("police power"), nor can it be taken through legal or regulatory means ("inalienable"). In practical use, title in the United States is often said to be allodial (as opposed to feudal), even though it does not meet all of the qualifications listed above.

Title to real property that is free of encumberances and obligations, including taxation. It denotes absolute or supreme ownership. Strictly defined, allodial title is not subject to county, state, or federal codes, ordinances, or zoning regulations ("police power"), nor can it be taken through legal or regulatory means ("inalienable"). In practical use, title in the United States is often said to be allodial (as opposed to feudal), even though it does not meet all of the qualifications listed above.

1. Real property owned under allodial title - completely, independently, without rent, mortgage, encumberances, taxation or any other obligation to another.
2. Freehold estate; land which is the absolute, inalienable property of the owner.
3. Real estate held in absolute independence, without being subject to any rent, service, or acknowledgment to a superior.

Features, both tangible and intangible, which enhance and add to the desirability of real estate

The value of real property as established by the state government for purposes of computing real property taxes

A specific levy for a definite purpose, such as adding curbs or sewers in a neighborhood. Individual condominium owners are subject to special assessments benefiting the project as a whole and not funded through regular maintenance charges.

The comparative relationship of a property's assessed value to its market value.

The jurisdictional official who performs the assessment and assigns the value of a property.

Any item of value which a person owns.

Any number of houses or other dwellings which are physically attached to one another, but are occupied by a number of different people. The individual houses may or may not be owned by separate people as well.

A form of corporation that meets the IRS tax requirements under Subchapter C of the Internal Revenue Code. It is also known as "C corporation" or "C-Corp".

1. An easement designed to preserve and protect open space or important natural areas.
2. A legal agreement between a landowner and either a land trust or government entity that restricts land use and development on a parcel of real property so as to preserve and protect its conservation and natural resource values.

A written instrument by which a property owner (grantor) transfers to a grantee ownership of and title to real property.

Deriving little or no value from on-site facilities or amenities.

1. A term, frequently used in connection with zoning requirements, which means the maximum number of building units per acre or the number of occupants or families per unit of land area (acre, square mile, etc.). 2. The ratio of developed or improved area to total land area.

The highest monetary price a property would bring, if offered for sale in an arm's-length transaction for a reasonable period of time in a competitive market. Also known simply as market value.

System of real estate title based in English law. All lands are owned and taxed by the king or other sovereign, who grants the right to possess real estate. Real estate is held as a life estate only, and ownership reverts to the king or other sovereign upon the death of the grantee.

System of title based in English law. All lands are owned and taxed by the king or other sovereign, who grants the right to possess real estate. Real estate is held as a life estate only, and ownership reverts to the king or other sovereign upon the death of the grantee.

Abbreviation for furniture, fixtures and equipment, a term normally used in business or commercial real estate. However, this term can also apply to personal, non-commercial items. Articles considered to be FF&E are personal property unless they are permanantly attached or affixed to real estate. Under the terms of most commercial leases, FF&E are to be removed by the tenant upon expiration of the lease, and are therefore personal property. Examples of FF&E include computers, office furniture, shelving, beds, etc. Synonymous with trade fixture.

An article which was once personal property but has been so affixed to real estate that it has become real property (stoves, bookcases, trees and landscaping, etc.). If determined to be a fixture, then ownership of the article transfers with the real property even though it is not mentioned in the deed.

Normally used in real estate with business or commercial applications such as bed and breakfasts, this term can also apply to personal, non-commercial items. Articles considered to be FF&E are personal property unless they are permanantly attached or affixed to real estate. Under the terms of most commercial leases, FF&E are to be removed by the tenant upon expiration of the lease, and are therefore personal property. Examples of FF&E include computers, office furniture, shelving, beds, etc. Synonymous with trade fixture.

Letter stating that an amount will be gifted to another and that the amount is not to be repaid.