Definition of "Property inventory"

Sonia Flores real estate agent

Written by

Sonia Floreselite badge icon

Kimberly Powell Properties

A listing of all assets a person or business owns, their cost, and appraised value. A complete inventory record should be maintained including real estate. Documentation is needed in the event of loss and for tax purposes.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing ...

Factor employed by real estate agents or appraisers to determine the change needed in operating income to obtain a desired rate of return. It is used to evaluate income-producing property. ...

Reduction of part of the balance of property by charging an expense or loss account. The reason for a write-down is that some economic event has occurred indicating that the asset's value ...

Descriptive of the architectural development of property in a certain area. For example, a housing subdivision may use very similar building architecture throughout the development. All the ...

Principle stating that the joint tenants must have equal rights to possession of the whole property. ...

Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the leased premises. ...

The definition for the gross living area published by the Appraisal Institute’s Dictionary of Real Estate 4th Edition is: “The total area of finished, above-grade residential ...

Characteristic of a trust that prevents the invasion of its principal by the trustees while providing a lifetime income to its principal beneficiary with the rest going to the son's ...

Under a FHA-insured mortgage, both the property and the borrower must meet certain minimum standards. The borrower is charged an insurance fee of one-half percent on the unpaid balance and ...

Popular Real Estate Questions