Flash Cards - Fundamentals of Real Estate Appraisal.pdf - Abatement Access Absentee Landlord Accessibility Absolute Fee Simple Title Accessory Buildings

Flash Cards - Fundamentals of Real Estate Appraisal.pdf -...

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Abatement: Access: Absentee Landlord: Accessibility: Absolute Fee Simple Title: Accessory Buildings: Absorption Analysis: Accretion: Abstraction: Accrual Basis: 1a
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A way to enter and leave a tract of land, sometimes by easement over land owned by another. (See also egress and ingress.) a. An action to remove a nuisance. ( Real Estate Law) b. Stopping or reducing of amount or value, as when assessments for ad valorem taxation are abated after the initial assessment has been made. (Fundamentals of Real Estate ) The relative ease of entrance to a property by various means, a factor that contributes to the probable most profitable use of a site. An owner of an interest in income- producing property who does not reside on the premises and who may rely on a property manager to oversee the investment. Structures on a property, such as sheds and garages, that are secondary to the main building. A title that is unqualified. Fee simple is the best title that can be obtained. (See also fee simple.) a. Accession by natural forces, such as alluvion. (Real Estate Principles). b. Accession by natural forces, such as alluvion. (Real Estate Practice). c. The gradual buildup of land by natural causes (generally by action of water). (Real Estate Law). d. Land buildup resulting from the deposit by natural action of sand or soil washed up from a river, lake, or sea. (Fundamentals of Real Estate Appraisal). A study of the number of units of residential or nonresidential property that can be sold or leased over a given period of time in a defined location. (See also feasibility study.) In accounting, a system of allocating revenue and expense items on the basis of when the revenue is earned or the expense incurred, not on the basis of when the cash is received or paid out. Method of finding land value in which all improvement costs (less depreciation) are deducted from sales price. Also called extraction method. 1b
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Accrued Depreciation: Actual Age: Accrued Expenses: Adjustable-rate Mortgage (ARM): Acknowledgment: Adjustment: Acquisition Appraisal: Ad Valorem: Acre: Adverse Land Use: 2a
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a. The number of years since completion of a building; also called historical or chronological age. (Real Estate Principles, Real Estate Practice) b. The number of years elapsed since the original structure was built. Sometimes referred to as historical or chronological age. ( Fundamentals of Real Estate Appraisal) (1) For accounting purposes, total depreciation taken on an asset from the time of its acquisition. (2) For appraisal purposes, the difference between reproduction or replacement cost and the appraised value as of the date of appraisal. a. Finance instrument whose interest rate will vary according to the change in an identified index or rate, such as the 11th District Cost of Funds. (Real Estate Principles). b. A variable- interest-rate loan. (Real Estate Finance). c. A financing technique in which the lender can raise or lower the interest rate according to a set index, such as the rate on six-month Treasury bills or the average cost of funds of FDIC-insured institutions. (See also amortized mortgage.) (Fundamentals of
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