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Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
Yes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoYes, it is the imputed rent value. Essentially, the amount of money you would have had to pay to rent it.
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What is life estate in Fla?
A life estate is a right in real property based on the life of a person. It allows that person the use of the property for their lifetime.
What is the meaning of zonal value in real estate?
the value of the property in specific locality taking into account such factors as size, location and use.
What has the author William B Truehart written?
William B. Truehart has written: 'The impact of real property versus land value taxation in Los Angeles County' -- subject(s): Land use, Land value taxation, Real property tax
If someone gives you lifetime rights to a home what do you need to do to make it legal?
Answer:On the discussion page you explained that you want to give your daughter lifetime rights to live in your home. The legal term for lifetime rights in real property is a life estate. The most common way to create 'lifetime rights' in real estate is by granting a life estate in a deed. However, that may not be the best option to use if your daughter does not have legal capacity.Granting a life estate in real property gives the life tenant the right to the use and possession of the property for the duration of their natural life. The property cannot be mortgaged, refinanced or sold without the written consent of the life tenant. You need to discuss this issue with an attorney who can review your situation, the reason you have made such a decision and explain your options. The attorney should be an expert in estate planning.
Does estate value include real estate?
Yes. Estate values are being determine by license appraisers and they conduct the necessary evaluation and assessment of a certain estate property about it's value. Any estate property is included in real estate. Any land resource that is directed for valuable use is included in real estate, for sale or not.
What are my rights as a co-owner of real property?
As a co-owner of real property by deed you have the right to the use and possession of, and the profits from the property.
What is use value in real estate?
The idea of value in real estate is that property has monetary worth based on several characteristics. 1. Demand 2. Utility - the property's usefulness for its intended purposes 3. Scarcity 4. Transferability A property must have each of these in some degree in order to have monetary worth. Clearly, each property will meet each characteristic in differing ways. Also, the degree to which a property has utility (use value) is somewhat subjective - you may think that a property is much more useful as a place to live than another person and so would be willing to pay more for it.
What is the local property tax based on?
In the United States and Canada the local property tax is based on the estimated value of the property being assessed. It is often called an "ad valorem tax", which is a Latin term meaning according to value. Local assessors are charged the responsibility of inventorying and estimating the value of all personal property (non-real estate) or real estate (land and buildings attached to land) in their community. State or provincial tax laws usually define the type of value estimated (market value, use value, etc.) and the specific date when it is estimated for property tax purposes. For example, in Virginia real estate assessments are estimated as of January 1 or July 1 each year as described by local ordinance. Some types of property are exempt for taxation like government-owned property, and property of religious organizations.
What is the property tax based on?
In the United States and Canada the local property tax is based on the estimated value of the property being assessed. It is often called an "ad valorem tax", which is a Latin term meaning according to value. Local assessors are charged the responsibility of inventorying and estimating the value of all personal property (non-real estate) or real estate (land and buildings attached to land) in their community. State or provincial tax laws usually define the type of value estimated (market value, use value, etc.) and the specific date when it is estimated for property tax purposes. For example, in Virginia real estate assessments are estimated as of January 1 or July 1 each year as described by local ordinance. Some types of property are exempt for taxation like government-owned property, and property of religious organizations.
Do you have to live in the house you have a lifetime estate to?
No, you do not need to live in the house to have a lifetime estate, but you typically retain the right to live in the house if you choose to do so. A lifetime estate grants you the right to use and enjoy the property during your lifetime.
What are the chief legal rights accorded to an owner of real property?
A person who owns real property has the right to the use of, possession of. income from, and profits from the property. If a sole owner, they have the right to sell the property or leave it to someone in their will. If they die intestate the property will pass to their next of kin through a probate proceeding.
What does rental real estate mean?
Rental real estate is any property for which the owner receives payment by another for use or occupation of the property. It can be commercial, storage, industrial, residential or vacation property.Rental real estate is any property for which the owner receives payment by another for use or occupation of the property. It can be commercial, storage, industrial, residential or vacation property.Rental real estate is any property for which the owner receives payment by another for use or occupation of the property. It can be commercial, storage, industrial, residential or vacation property.Rental real estate is any property for which the owner receives payment by another for use or occupation of the property. It can be commercial, storage, industrial, residential or vacation property.
