Excess of money or fair value of property received on sale or exchange over the carrying value of the property. An example is the sale of a building when the cash received exceeda its book value. Gains also occur when the cash payment to eliminate a mortgage is less than the carrying value.
Popular Real Estate Terms
(1) Wide boards, generally two inches thick, attached to flooring or roof of a structure. (2) Light gauged ribbed metal sheets used for supporting a roof or floor. ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
The term land use succession definition can be looked at from two perspectives. While the general way to define land use succession would be “changes that occur over time in the use ...
Managing property directly at its location. The management functions may include showing prospective tenants the facilities, collecting rents, and doing upkeep on the property. ...
Structure of prefabricated units. ...
A step's edge. ...
A person has the option of canceling a contract previously agreed to. ...
Expenditures incurred to improve a specific real estate development; however, these improvements are not directly on the property. Example are curbs, driveways, and streets. ...
See accommodation endorser, maker, or party. ...
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