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 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.

1. Real property owned under allodial title - completely, independently, without rent, mortgage, encumbrances, 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

Definition:
1. The process of estimating, fixing, or setting the market value of real property. An appraisal may take the form of a lengthy report including detailed methods, a short completed form, a simple letter, or even an oral report.
2. An estimate, opinion, or judgment about the value, quality, or quantity of something.

Terms, Definitions, and Concepts: Appraisal, Auction, Finance and Investment, Legal (Law), Management, Real Estate, Taxes and Taxation

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.

Definition: Unimproved land; land in its unused natural state prior to development or construction of improvements such as streets, lighting, sewers, and the like. Same as raw land.

Terms, Definitions, and Concepts: Agriculture, Appraisal, Auction, Construction and Building, Management, Real Estate, Survey, Taxes and Taxation, Zoning

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.

1. Real or personal property that is visible and has physical form, as opposed to intangible property such as rights or patents.
Same as tangible property.
2. Real property consisting of land, improvements to the land (tenements), and physical appurtenances such as sidewalks.

Legal (Law): 1. Of minimal importance or significance. Minor issues that are too trivial to be considered by a court of law. An example of a de minimis issue is an act that is technically a violation of a contract, but causes no harm or damage and does not alter the fundamental nature of the agreement.
Real Estate 2. A property that derives little or no value from on-site facilities or amenities.

Terms, Definitions, and Concepts: Appraisal, Auction, Finance and Investment, Legal (Law), Management, Real Estate, Taxes and Taxation

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

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.

A gift of real property by will. The person who gives the property is known as the testator, and the person who receives it is known as the devisee.

Definition 1. The process by which money and/or documents pertaining to a contract are held by a disinterested third party (i.e., a trustee to a deed of trust) until the satisfaction of the terms and conditions of the escrow instructions (as prepared by the parties to the escrow).
2. A trust account maintained by a lender (mortgagee or beneficiary of a deed of trust) containing money collected from a borrower (mortgagor or trustor of a deed of trust), the purpose of which is to pay for recurring expenses such as homeowner's insurance, private mortgage insurance, and property taxes.

Terms, Definitions, and Concepts: Finance and Investment, Legal (Law), Management, Real Estate, Taxes and Taxation, Title and Title Insurance

Definition:
1. All the property, possessions, and capital one owns, both real and personal, tangible and intangible.
2. The degree, level, quantity, quality, nature, characteristics, duration, and extent of the possessory interest one owns in real property.
3. In the feudal era, any of the three political classes: the Lords Spiritual (the clergy), known as the first estate; the Lords Temporal (nobility, royalty, tenants-in-chief, etc.), known as the second estate; and the Commons (bourgeoisie), known as the third estate. In contemporary usage, journalists are known as the fourth estate.
4. The assets and liabilities of a deceased person, or one that is bankrupt.
5. A parcel of real property, varying in size but generally larger than a standard lot, with a residence (often a large house or mansion) and several outbuildings consisting of guest and servant quarters, barns, storage facilities, or the like.


Terms, Definitions, and Concepts: Real Estate, Legal (Law), Management, Appraisal, Auction, Finance and Investment, Taxes and Taxation, Title and Title Insurance

The degree, characteristics, quantity, quality, nature, and extent of the present or future possessory interest one owns in real property. There are different types of estates in land; each is distinguished by the characteristics of its interest and by its potential or actual duration.