Economic Obsolescence

Definition of "Economic obsolescence"

Loss of property value due to external forces of events.

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Related Real Estate Glossary terms

Claims Occurrence Basis Liability Coverage

Method of determining whether or not coverage is available for a specific claim. If a claim arises o ...

Subject Property

In appraisal jargon, property currently being appraised. ...

Trustee Liability Insurance

Coverage provided for the fiduciaries of a retirement plan as well as for the plan itself in the eve ...

Material Fact

Same as term Material Misrepresentation: falsification of a material fact in such a manner that, had ...

Cost Of Protection

Same as term Cost of Insurance: value or cost of the actual net protection, in life insurance, in an ...

Medicare Wraparound Insurance

Insurance that acts as a supplement to medicare in that it will pay the deductibles and coinsurance ...

Related Real Estate FAQ

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

What Are The Benefits Of Liability Insurance?

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing ...

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard in ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

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What is the difference between a real estate broker and a real estate agent? What is a deed? What are the benefits of Business Owners Insurance? What do I need to know about Business Insurance? What happens when a property starts to depreciate?