Section 1245
Definition of "Section 1245"
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 the amount of accumulated depreciation taken.
Popular Real Estate Terms
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty. ...
Founded in 1947 and located in Washington, DC, the NAREB has 7,500 members with 15 regional groups and 6 state groups. It offers certification programs for members of the real estate ...
Architectural plan which may include blue prints of a property project. Designs must meet technological and zoning requirements. ...
part of the Department of Housing and Urban Development (HUD), which sees that complete disclosures are made for land sales. ...
Legally proper instrument under seal that transfers title to real property from the seller to buyer. ...
An offering of securities, stock and/or debt, directly to investors rather then through the public exchange markets. An advantage of a private placement to a real estate business is that ...
Uniform charge for transportation and delivery of household items to a homeowner within a particular locality. ...
Expected period that property will provide benefits. It is typically less than physical life of the property because the property continues to have physical life regardless of inefficiency ...
Demise indicates the act of “granting a lease of property” in legal terms. A demising clause refers to a particular provision of housing requirements based on family size, ages, ...
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