Excess Depreciation
Definition of "Excess depreciation"
Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be depreciated. Items that cannot be depreciated include land, since it never wears out, inventory, containers, costs to demolish a building, a life interest or an interest for a term of years in a property, or income interest in a trust.
Popular Real Estate Terms
Distribution of population over a given area of land. ...
The amount of inherent risk for a mortgage in granting a mortgage. An operating principle in mortgage risk rating is that the mortgage cannot exceed 2.5 times the mortgagor's annual income, ...
Certificate issued to the buyer at a judicial sale, such as an execution sale. After the time for redemption has expired, the holder of the certificate is entitled to a deed. ...
Charges resulting in involuntary encumbrances against real property derived from legislated law rather than from debts owed to organizations o r individuals. For example, of a homeowner ...
A certification of a property title issued by an attorney after examining the abstract of title. The attorney's opinion of title is essential to obtaining title insurance, a mortgage or the ...
Land surveying measurement that is 16.5 feet in length, or 5 1/2 yards. A perch is also called a rod or a pole. Today the term perch is seldom used. It is found in old deeds, surveys, and ...
The most common definition of a subdivision in real estate terms is when a piece or parcel of land (referred to as a plot) is divided into smaller parts by its owner. A subdivision’s ...
Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the leased premises. ...
Arrangement the insured and insurer share on a proportional payment for a loss. ...
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