That property which can be touched. For example: A window (glass) is corporeal. The view through the window is incorporeal.

See: Rerecording.

See: Standard Parallels.

The use of different appraisal methods to reach an estimate of value of a property. The methods must be weighed as to relative value in each specific appraisal.

(1) A hallway or passageway. (2) A strip of land used as a passageway, such as an inland country’s outlet to the sea, or between heavily populated areas.

Technically, the original amount paid for anything. The term is generally used as a synonym for value or the total amount invested, including expenses after the original purchase.

An appraisal method, estimating the replacement cost of a structure, less depreciation, plus land value.

(1) In construction, the expenditure of building based on a detailed cost of materials to be used. (2) In appraisal the term is general, referring to replacement cost, but not limited to a specific method of arriving at said cost.

See: COFI.

See: Escalation Clause (2).

A government indicator of the increase or decrease of living costs for the average person on a monthly basis. See also: Escalation Clause (2).

Cost (usually monthly) of a business to occupy its property exclusive of any costs of doing business.

Expense of alterations to raise the value of a property, rather than to make repairs.

Expenses to maintain the value of a property by restoring the worn- out or broken parts of the structure.

See: Depreciation (2).

A building contract setting the builder’s profit at a set percentage of actual cost of labor and materials.

Originally, a house with no surrounding land belonging to it. Modernly, a small house, perhaps used as a summer home.

A measure of electricity equal to a one second electrical charge in a current having a constant flow of one ampere.