An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age. The income may be from more than one source. Salary is generally the principal source, but other income may qualify if it is significant and stable. The right of a government to take private property for public use upon payment of its fair market value.
Eminent domain is the basis for condemnation proceedings.
Employer-assisted housing A special housing initiative that offers several different ways for employers to work with local lenders to develop plans to assist their employees in purchasing homes. An improvement that intrudes illegally on another's property. Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions. A person who signs ownership interest over to another party. Contrast with co-maker.