Economic Life at Real Estate Glossary

What is it? 1. The estimated period over which an improved property may be profitably used so that it will yield a return over and above the economic rent attributable to the land itself; the period during which an improvement has value in excess of its salvage value

Real Estate Definition Added By: Grace

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Other Similar Real Estate Terms:

Real Estate Term Discounted Cash Flow is Used in measuring the return from a real estate investment, the present value of a future income stream as determined by a given discount rate. (See present worth, return on investment)

Real Estate Term Usury is Charging interest at a higher rate than the maximum rate established by state law.

Real Estate Term Joint And Several Liability is A situation when more than one party is liable for repayment of a debt or obligation. A creditor can obtain compensation from one or more parties, either individually or jointly. (See liability)

Real Estate Term Certificate Of Reasonable Value (CRV) is A certificate insured by the Veterans Administration setting forth a propertys current market value estimate, based on a VA-approved appraisal. The CRV places a ceiling on the amount of a VA-guaranteed loan allowed for a particular property. (See VA loan

Real Estate Term Credit is The money a lender extends to a buyer for a commitment to repay the loan within a certain time frame.