Economic Obsolescence
Definition of "Economic obsolescence"
Loss of property value due to external forces of events.
Popular Real Estate Terms
Estimated price at which a partner in a partnership can buy out another partner. There are several methods for developing a buy-out estimate including market comparisons, appraisals, or ...
Designation given to members of the American Society of Real Estate Counselors (ASREC). A prerequisite for membership is professional experience and ethical conduct. ...
Occurring every two years. ...
If you are involved with real estate, chances are you've come across the term "convey" or conveyance. But what does convey mean in real estate? This term is crucial whether you're buying, ...
To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...
The Internal Revenue Code (IRC Sections 1034 and 121) providing that a person over age 55 can sell a principal residence at a gain and exclude once in a life time up to $125,000 of the gain ...
Beam that is supported only at one end. ...
A contract between a lessor and a lessee to use property for a specified time period at an agreed to rental charge. Gross lease: A total amount of rental dollars from which the landlord ...
Waterproofing the joint of a roof. ...
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