As opposed to constructive possession. When the owner of a property occupies the property on a day-to-day basis. Constructive possession is when the owner takes actions to establish and maintain his …
Ad Valorem
Latin meaning "according to value." Taxes that are said to be ad valorem are assessed according to the value of the property. …
Acquisition, Development & Construction (ADC) Loan
A loan that finances the three major phases of a land development project: (i) acquisition, (ii) development and (iii) construction. …
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Accrued Depreciation
From a tax standpoint, the amount of value of a property or chattel which has already accumulated (but has not been claimed) as a result of the decrease in the value of that property due to the …
Addendum
An addition to a document that forms part of it. Similar to a Schedule to an Agreement of Purchase and Sale. May be used to add specific and detailed information material to the contract or upon which …
Accrued Interest
Interest which has already been earned but has not yet been paid. …