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Unit 17

TermDefinition
Adjusted Basis Original cost plus improvements, minus depreciation
Appreciation An increase in the worth or value of a property
Basis The cost of a property that the Internal Revenue Service uses to determine annual depreciation and gain or loss on the sale of the asset
Bill of Sale A written instrument given to transfer title of personal property
Boot Money or property given to make up any difference in value or equity between two properties in an exchange
Capital Gain Profits realized from the sale of assets like real estate
Cash Flow The net spendable income from an investment after deducting expenses
Depreciation In appraisal, a loss of value in property due to any cause including physical deterioration, functional obsolescence, and locational obsolescence. For income tax purposes yearly write off of a % of the cost of a building as an expense
Exchange A transaction in which all or part of the consideration for the purchase of real property is the transfer of like kind property (for ex; real estate for real estate)
Installment Sale A method of reporting income received from the sale of real estate when the sale price is paid in two or more installments over two or more years
Leverage The use of borrowed money to finance investments
Marginal Tax Rate The rate at which the investors top dollar is taxed
Real Estate Investment Trust (REIT) Trust ownership of real estate by a group of at least 100 individuals who purchase certificates of ownership in the trust
Return The income from real estate investment, calculated as a percentage of cash invested
Syndicate A combination of people or firms formed to accomplish a joint venture of mutual interest
Tax-Credit Direct deduction from tax due
Uniform Commercial Codes (UCC) A codification of commercial law, adopted in most states, that attempts to make uniform all laws relating to commercial transactions, including chattel mortgages and bulk transfer
Created by: MAK89
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