Category: Real Estate Terms

  • What Is An Improvement Assessment in Property?

    What Is An Improvement Assessment in Property?

    Land and property are assets that will usually appreciate when you improve the property. If you do not improve or maintain your property, the value can decline. The improvement assessment is how your property’s improvements are assessed for tax purposes. Each county in the United States may have different rules for assessing property improvements, so…

  • What Is An Example Of Appurtenance?

    What Is An Example Of Appurtenance?

    When you are looking at Real Estate, many terms may seem unfamiliar. One of those terms is Appurtenance. An appurtenance is attaining to or being attached to the property. An appurtenance is when the attachment becomes part of the property. Appurtenance includes light fixtures, furnaces, air conditioners, barns, sheds, fences, and swimming pools. Anything attached…

  • What Is The Meaning Of ‘Freehold’ In Real Estate?

    What Is The Meaning Of ‘Freehold’ In Real Estate?

    When you hear a property is “freehold,” it is important to understand what it means when it is considered freehold. Freehold property means the land or property is legally free from hold by any party other than the owner. The owner is the rightful owner of the property and can use or dispose of it.…

  • What Can I Do With A Utility Easement On My Property?

    What Can I Do With A Utility Easement On My Property?

    If you have a utility easement on your property, this can make a difference in precisely what you can do on your property. Each utility easement is not the same. A utility easement gives the utility company full access to your property for the “good of the community.” The Utility company does not need to…

  • What Is Severance In Property?

    What Is Severance In Property?

    The term severance is another real estate term that can sometimes be confusing. It can be confusing because severance in real estate can include joint tenancy and real property severance. Severance is about taking or severing real property so that it now becomes personal property. It also has to deal with the severing or termination…