Land in its natural state without any man-made alterations.
Land with man-made alterations.
A software program that is capable of reproducing itself and causing harm to other programs and files.
The legal right granted by the United States government to a person or organization for a period of years to exclusively own and control an original written document, piece of music, software , or other form of expression.
A distinctive design or set of words that legally identifies a produce or service as belonging to a certain organizaiton.
The right granted by the United States government to an inventor or applicant for a limited time period to exclusively own and control a new, useful, and nonobvious invention.
A practice, method, process, design, or other information used confidentially by an organization to mantain a competitive advantage.
The value an organization has attained beyond the value of its tangible assets because of its favorable reputation.
A storm consisting of vilent wind capable of causing damage.
A rising or overflowing of water onto what is normally dry land.
An abrupt falling down or caving in of a building with the result that the building or any part of the building cannot be occupied for its intended use.
The orignal cost of a property.
The value assigned to a property for the purpose of tax assessment.
An asset's historical cost minus accumulated depreciation.
The amount required to replace lost, damaged, or destroyed property with comparable property.
The cost of duplicating property exactly by using materials, artistry, and other expertise comparable to those used for the original property.
Functional Replacement Cost
The cost of acquiring a replacement that, while not identical to the property being replaced, performs the same function with equal efficiency.
The price that would have to be paid to purchase property today.
Actual Cash Value
The replacement cost of a property minus its physical depreciation.
The amount that property is worth based on the ability of the property to produce income.
A creditor who has a right to reclaim property for which a loan was extended.
A person or entity who receives property from another (the bailor) under a bailment contract.
A person or entity who delivers property to another (the bailee) under a bailment contract.
A contract that requires the bailee to keep the property in safekeeping for a specific purpose and then to return the property to the bailor when the purpose has been fulfilled.
Improvements and Betterments
Alterations to premises made by a tenant that make it more useful for the tenant's purpsoes, increase the value of the property, and become part of the leased structure.
Fixtures and equipment that may be attached to a building during a tenant's occupancy, with the intention that they be removed when the tenant leaves.