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A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
The highest and best use of a property must be financially feasible: the proposed use of a property must generate adequate revenue to justify the costs of construction plus a profit for the developer. In the case of an improved property, with obvious remaining economic life, the question of financial feasibility is somewhat irrelevant.
In an economic context, land development is also sometimes advertised as land improvement or land amelioration. It refers to investment making land more usable by humans. For accounting purposes it refers to any variety of projects that increase the value of the process. Most are depreciable, but some land improvements are not able to be ...
Key takeaways. You may be able to use a home equity loan to secure a loan to buy — and potentially improve — a plot of land. A home equity loan might offer better terms and interest rates than ...
A land lease, also known as a ground lease, is an arrangement in which a landowner (the lessor, in legal terminology) rents out the land to a tenant (or the lessee).
Bank or credit union land loan: A local bank or credit union is more likely to be familiar with the land in the area, and could offer a loan with better terms. You might also try seeking out a ...