Real Estate Term of the Day: Eminent Domain EMINENT DOMAIN – the right of the government or a public utility to acquire property for necessary public use by condemnation; the owner must be fairly compensated (Barron’s Dictionary of Real Estate Terms) A recent example of eminent domain use is the construction of the RTD FasTracks … More Real Estate Term of the Day: Eminent Domain
Real Estate Term of the Day: Easement EASEMENT – the right, privilege, or interest that one party has in the land of another (Barron’s Dictionary of Real Estate Terms) Common types of easements that can show up on a property title search include: Utility: storm drain sanitary sewer electrical power telephone line gas pipe Road … More Real Estate Term of the Day: Easement
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Real Estate Term of the Day: Depreciation & Obsolescence DEPRECIATION – an decrease in the value of property due to obsolescence (Barron’s Dictionary of Real Estate Terms) OBSOLESCENCE – a loss in value due to reduced desirability and usefulness of a structure because its design and construction have become obsolete; loss due to a structure … More Real Estate Term of the Day: Depreciation & Obsolescence
LESLIE MONACO REAL ESTATE 