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RATE OF RETURN The relationship (expressed as a percentage)between the annual net income generated by a business and the invested capital, or the appraised value, or the gross income, etc., of the business. USEFUL LIFE That period of time over which an asset, such as a building, is expected to remain economically feasible to the owner. BUILDING RESIDUAL TECHNIQUE A method of determining the value of an improvement normally used in appraising income property. PREPAID INTEREST Interest that is paid in advance of when it is due. Typically charged to a borrower at closing to cover interest on the loan between the closing date and the first payment date. ALIENATION CLAUSE A clause in a promissory note or mortgage which provides that the balance of the secured debt becomes immediately due and payable at the option of the mortgagee upon the alienation of the property by the mortgagor. PLOTTAGE The merging or consolidating of adjacent lots into one larger lot, with the consequent result of improved usability and increased value; also called assemblage. BLUE SKY LAWS State securities laws designed to protect the public from fraudulent practices in the promotion and sale of securities, e.g., through limited partnerships, syndications, bonds. |
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