Definition: A method for estimating the market value of a property as determined by the amount of income it will provide over its remaining economic life. Pronunciation: \ˈin-ˌkəm\ \ə-ˈprōch\ Used in a Sentence: The appraiser used the income approach when estimating the value of the apartment building we were interested ..
Definition: A summary of all income and expenses of a business for a specific period o f time. Pronunciation: Used in a Sentence: We had our accountant prepare an income statement for the property when we listed it..
Definition: An appraisal term referring to the external or functional obsolescence of an improvement where the cost to correct it is greater than the value added by the cure. Pronunciation: \(ˌ)in-ˈkyu̇r-ə-bəl\ Used in a..
Definition: The rate to which the interest rate on an adjustable rate mortgage is tied. Pronunciation: \ˈin-ˌdeks\ \ˈrāt\ Used in a Sentence: The interest rate on one-year US Treasury securities is a popular index used b..
Definition: Properties that include 1) sites in industrial parks or subdivisions, 2) redeveloped industrial parcels in central areas and 3) industrial acreage. Pronunciation: \in-ˈdəs-trē-əl\ Used in a Sentence: We looked at several industrial properties while deciding on where to build our ..
Definition: The status of a license when it is inactive or has been suspended. Pronunciation: \ˌi-nə-ˈfek-tiv\ Used in a Sentence: Her license was was considered ineffective when she changed it to volunatry inactive while on matern..
Definition: A writ granted by a court of equity whereby one is required to do or to refraim from doing a specified act. Pronunciation: \in-ˈjəŋ(k)-shən\ Used in a Sentence: An injunction was issued against the homeowner for violations of the ..
Definition: A formal legal document such as a contract, deed or will. Pronunciation: \ˈin(t)-strə-mənt\ Used in a Sentence: A deed is a written instrument that conveys title to real..
Definition: A stipulation in a mortgage that requires the mortgagor to obtain and keep current a hazard insurance policy. Pronunciation: \in-ˈshu̇r-ən(t)s\ \ˈklȯz\ Used in a Sentence: Our mortgage contract has an insurance clause requiring us to have hazard insurance on our hou..
Definition: Anything having no material or physical substance, cannot be seen or touched, such as the goodwill of a business. Pronunciation: \(ˌ)in-ˈtan-jə-bəl\ \ˈa-ˌset\ Used in a Sentence: Leadership is an intangible asset to ..