![]() ![]() The time required to obtain legal title by adverse possession varies from state to state.Īllocation – Allocation is a method of estimating land value in which sales of improved properties are analyzed to establish a typical ration of land value to total to the property being appraised or the comparable sale being analyzed.Īmortization – Amortization is the process of retiring a debt or recovering a capital investment, typically through scheduled, systematic repayment of the principal a program of periodic contributions to a shrinking fund or debt retirement fund.Īnticipation – Anticipation is the perception that value is created by the expectation of benefits to be derived in the future.Īppraisal – Appraisal is the act or process of developing an opinion of value an opinion of value.Īppraisal Consulting – Appraisal Consulting is the act or process of developing an analysis, recommendation, or opinion to solve a problem, where an opinion of value is a component of the analysis leading to the assignment results.Īppraisal Management Company (AMC) a private firm that serves as a conduit between the intended user of an appraisal or appraisals, and the parties conducting appraisals for a fee.Īppraisal Practice – Appraisal Practice valuation services performed by an individual acting as an appraiser, including but not limited to appraisal, appraisal review, or appraisal consulting.Īppraiser – An Appraiser is one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. See executor.Īdverse Possession – Adverse Possession is the actual exclusive, open, notorious, hostile and continuous possession and occupation of the real property under an evident claim of right or title. An administrator provides security for the due administration of the estate by entering into a bond with sureties called an administration bond. See landlocked parcel the right of a riparian owner to pass to and from the waters on which the premises border.Īdministrator – Administrator is a person appointed by the court to manage and settle the estate of a deceased person a representation of limited authority who collects the assets of an estate, pays its debts, and distributes the residue to those entitled. See also capture rate.Īccess Rights- Access Right is the right of ingress to and egress from a property that abuts an existing street or highway an easement in the street that adjoins abutting property a private right, as distinguished from a public right. Abatement – Abatement is an official reduction or invalidation of an assessed valuation after the initial assessment for ad valorem taxation has been completed the termination of a nuisance a reduction in rent levels that a landlord charges a tenant, sometimes brought about by a rent control program.Ībsorption Rate – Absorption Rate is the rate at which properties for sale or lease have been or are expected to be successfully marketed sold or leased or given area over duration of time.
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