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Questions in Reverse VocabThe joining, reaching, or touching of adjoining
land. Parcels of land have a common boundary. Abutting A method of calculating for tax purposes the depreciation of income property at a faster rate than would be achieved using the straight-line method. Any depreciation taken in excess of what would be claimed using the straight-line rate is subject to recapture as ordinary income to the extent of the gain resulting from the sale. Accelerated Depreciation A provision in a written mortgage, note, bond, or conditional sales contract that in the event of default, the whole amount of the principal and the interest may be declared due and payable at once. Acceleration clause Title to improvements or additions to real property is acquired as a result of the accretion of alluvial deposits along the banks of streams or as a result of the annexation of fixtures. Accession An increase or addition to land by the deposit of sand or soil washed up naturally from a river, lake, or sea. Accretion The actual depreciation that has occurred to a property at any given date; the difference between the cost of replacement new (as of the date of the appraisal) and the present appraised value. Accrued depreciation The act of signing a document before a notary public, stating it was signed voluntarily. Acknowledgment The result of legal action originated by a lessor, by which a defaulted tenant is physically ousted from the rental property pursuant to a court order. Actual eviction A deed that carries with it no warranties against liens or other encumbrances but that does imply the grantor has the right to convey title. The grantor may add warranties to the deed at his or her discretion. Bargain and sale deed Express information or fact; that which is known; actual knowledge. Actual notice 527 total Questions 1 2 3 4 Next > [Last Page]
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