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Value-in-use, or use value [2] – the net present value (NPV) [3] of a cash flow that an asset generates for a specific owner under a specific use. Value-in-use is the value to one particular user, and may be above or below the market value of a property.
Property owners may also declare a value, which is subject to change by the tax assessor. Once the value is determined, the assessor typically notifies the last known property owner of the value determination. Such notices may include the calculated amount of tax. The property owner may then contest the value. [13]
When the owner of the rental units failed to pay his mortgage, a company under the control of local developer Kevin Timochenko snapped all of them up for $7,200 at a foreclosure auction.
A property abstract is a summary of the legal documents that chronicle transactions associated with a particular parcel of land. Generally included are references to deeds , mortgages , wills , probate records, court litigations , and tax sales —basically, any legal document that affects the property.
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Pros of buying a family member’s home. Commission savings: If you and a trusted family member agree to a sale, you might be able to eliminate the need for real estate agents.Considering that the ...
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