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Property condition assessments (PCAs) (also known as the property condition report, or PCR) are due diligence projects associated with commercial real estate.Commercial property and building inspections are important for clients seeking to know the condition of a property or real estate they may be purchasing, leasing, financing or simply maintaining.
The additional cost to perform this assessment cannot be included in the amount requested in the loan and adds significant costs to the borrower. Freddie Mac/Fannie Mae Phase I Environmental Site Assessments are two specialized types of Phase I ESAs that are required when a loan is financed through Freddie Mac or Fannie Mae. The scopes of work ...
The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax.
The foundation principles for ad valorem taxes are that each property is valued according to its market value and that each property is taxed based upon a single millage rate that applies to everyone (uniformity). [10] Special assessment levies are not ad valorem property taxes even though they may be collected on a property tax bill. A special ...
The tenant's profit is the excess of revenues extracted from the farm, less the rents, administration, levying, and collection expenses. The tenant's skills lie in negotiating a favorable rent by overstating the riskiness of the cash flow stream and effectively managing the assigned debts as a skilled debt-collector and manager.
In Irish and Northern Irish law, a fee farm grant is a hybrid type of land ownership typical in cities and towns. The word fee is derived from fief or fiefdom, meaning a feudal landholding, and a fee farm grant is similar to a fee simple in the sense that it gives the grantee the right to hold a freehold estate, the only difference being the payment of an annual rent ("farm" being an archaic ...
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