Section 1231
Section of the Internal Revenue Code applies to assets used in a trade or business,. In general, gains on section 1231 assets are taxed at capital gains rates, and losses are considered ordinary losses for tax purposes. Assets included under section 1231 are apartments, warehouses, hotels, and office buildings.
Popular Real Estate Terms
(1) The exposed trim and molding surrounding a door or window. (2) Woodwork which encases a pipe or structural member. (3) Method of creating a form for the pouring of concrete. ...
Similar property. Comparing like property. properties that are side by side but do not meet. They are in the same direction with a constant distance. ...
Transfer of personal property via a will as a gift to the recipient. ...
The concept of a release can define various meanings in the financial and real estate business. Typically, it establishes a discharge or literal escape from a loan borrower's economic ...
A reduction in structural value from all reasons except physical failure. For example, a commercial building having an outdated elevator or electrical wiring system is experiencing ...
In a broader sense, Full Disclosure means presenting all information (significant or not, classified or not) related to a certain matter. In Real Estate, the term “Full ...
Plywood whose surface is given parallel scratches or grooves in the manufacturing process. It provides, increased bond to adhesives, mortar, plaster, or stucco as well as giving a grain ...
Expenditures incurred to initially purchase property, including incidental costs necessary to put the property into existing use and location. This cost is then depreciated over the assets ...
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 ...
Have a question or comment?
We're here to help.