Useful Life
Definition of "Useful life"
Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any commonly recognized economic life. An example is a building that can be used for 30 years.
Popular Real Estate Terms
(1) The transformation of a racially integrated neighborhood-bousing pattern into segregated housing. (2) Deterioration, destruction, or decay. ...
Adobe construction is one of the oldest types of construction that has been used in the Americas, ancient Egypt, and the Middle East to build long-lasting structures that can be seen even ...
To undertake or take on a responsibility or duty. ...
When we talk about agency as a real estate concept, we understand the relationship between the real estate agent and the client. However, the term dual agency defines a type of agency that ...
Timeshare homes is the popular name given to the concept of fractional ownership in real estate, and, in fact, is a better term to explain its meaning.Why?Well, fractional ownership means ...
Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Secondary is something that is less important than or compared to something else. Secondary can also be a result of something or someone that is primary by definition. A secondary location ...
A joist to which a ceiling is attached. A ceiling joist usually consists of several small 2 x 4 boards nailed or mortised to the sides or bottom of overhead joists to which the ceiling is ...
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