Principle Of Substitution
Definition of "Principle of substitution"
Highest amount a property is worth equal to the amount that would have to be paid to buy equivalent property in the market place.
Popular Real Estate Terms
Aerial navigation that may interfere with a property owner, such as creating undue noise. The value of land near an airport may decline in value for this reason. Further airport congestion ...
Clause in an open-ended mortgage permitting the mortgagor to borrow additional sums of money in the future pledging than same real property collateral. A construction loan has a future ...
Provision of the Internal Revenue Code applying to gains from the sale of personal property subject to depreciation. In most cases, the gains are at the capital gains tax rate limited to ...
(1) Agreement to sell real estate with a pre-arranged reverse but at an established price. This may not be legal in some instances, and any resulting losses may not be tax deductible. (2) ...
Day the attachment of property under a judicial order becomes effective. ...
Act occurring after the fact. ...
There are two definitions of annexation in real estate. The first definition of annexation in real estate deals with the expansion of cities and the accompanying zoning laws. When a city ...
Current cost to replace property with an identical property after allowing for the depreciated value of the property. ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
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