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Incorporeal right
Incorporeal right A nonpossessory right in real estate; for example, an easement or a right of-way.
RELATED TERMS--------------------------------------
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
Easement
A right-of-way created by grant, reservation, agreement, prescription or necessary implication which one has in land owned by another.
SIMILAR TERMS--------------------------------------
Income and expense report
A financial report generated by a property manager that details the income and expenses from a property and the amount remitted to the owner.
Income approach
The process of estimating the value of an income-producing property through capitalization of the annual net income expected to be produced by the property during its remaining useful life.
Income capitalization value
The indication of value derived for an income-producing property by converting its anticipated benefits into property value through direct capitalization of expected income or by discounting the annual cash flows for the holding period at a specified yield rate
Income multipliers
Used by most lenders to determine how much can be borrowed. Averages tend to be a single income multiplied by three or joint income multiplied by 2.5.
Income property
Real estate that is owned or operated to produce revenue
Income ratio
The relationship between a person's total income and the amount needed to make one month's mortgage payment.
Income return
The percentage of the total return that is generated by the income from operations of a property, fund or account
Incompetent
An individual who is unable to handle his own affairs by reason of some medical condition (e.g., insanity, Alzheimer's).
PREVIOUS AND NEXT TERMS--------------------------------------
Income multipliers
Used by most lenders to determine how much can be borrowed. Averages tend to be a single income multiplied by three or joint income multiplied by 2.5.
Income property
Real estate that is owned or operated to produce revenue
Income ratio
The relationship between a person's total income and the amount needed to make one month's mortgage payment.
Income return
The percentage of the total return that is generated by the income from operations of a property, fund or account
Incompetent
An individual who is unable to handle his own affairs by reason of some medical condition (e.g., insanity, Alzheimer's).
Incorporeal right
Increasing and diminishing returns
The addition of more improvements to land and structures which increases value only to the assets' maximum value. Beyond that point, additional improvements no longer affect a property's value.
Incurable defect
A defect in a property that cannot be fixed, such as an adjacent hazardous waste site, or that would cost too much to repair relative to the value of the property.
Independent
A brokerage firm operating on-its-own without an affiliation with a regional or national franchise.
Independent bank
A bank that is locally owned and operated, and not associated with a bank holding company.
Independent contractor
One who is retained to perform a certain act, but who is subject to the control and direction of another only as to the end result and not as to how he or she performs the act.
This dictionary contains 6433 terms. |
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