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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
The extent to which the existing improvements differ from the highest and best use as-if vacant, reveals the extent of any functional obsolescence. Further, there are three potential actions that can be undertaken regarding the existing improvements: Retention of the existing improvements, modification of the improvements or the development ...
Ameliorative waste is an improvement to an estate that changes its character even if the change increases the land's value. Under English common law , when ameliorative waste occurs, the interested party can recover from the tenant the cost of restoring the land to its original condition.
The prepupa is a stage in the life cycle of certain insects, following the larva or nymph and preceding the pupa. It occurs in both holometabolous and hemimetabolous insects. Examples
It can also be restoring something to a former better state (as by cleaning, repairing, or rebuilding). Renovation is very common in some places. For example, there are more than twenty thousand home improvement projects every year in Hong Kong, affecting more than a million residents [1] (population of HK is around 7.5 million in 2023). [2]
The distinction between extraordinary assumptions and hypothetical conditions can be a matter of law or professional standards in the field of real estate appraisal in the United States where the distinction is not only codified in USPAP, but enforced by various state real estate appraiser commissions or professional boards. However, the ...
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
When, for instance, a property is rezoned for higher-value uses, or nearby public improvements raise the value of a piece of private land, a property owner is "bettered" due to the actions of others. Because of this, capturing the value of betterment for the public through taxation or other means is a common policy approach.