Answer for "What is accession?"

Kat Nimmons, Broker real estate agent
  RE/MAX Executive

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and rights to alluvion, as well as manmade improvements. However, a possessor of the property, other than the property owner, is entitled to the increase in property value created by improvements made to the property when the value of the skill, labor, and improvements exceeds the value of the property.


Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

Related Real Estate Questions

 

Related Real Estate Glossary Terms