Legal Dictionary

Search results for: “depreciation”

  • Component Depreciation

    Concept of Component Depreciation in the context of Real Property A short definition of Component Depreciation: Allocating separate effective lives to components of a building and depreciating each separately.

  • Physical Age-life Method of Depreciation

    Physical Age-life Method of Depreciation in the context of Real Property See: Age-Life Method of Depreciation in this legal Dictionary.

  • Curable Depreciation

    Concept of Curable Depreciation in the context of Real Property A short definition of Curable Depreciation: Repairs which an owner of real estate should make to retain a high value, but which have not been made.

  • Economic Depreciation

    Economic Depreciation in the context of Real Property See: Economic Obsolescence in this legal Dictionary.

  • Physical Depreciation

    Physical Depreciation in the context of Real Property See: Physical Deterioration in this legal Dictionary.

  • Basis for Depreciation

    Concept of Basis For Depreciation in the context of Real Property A short definition of Basis For Depreciation: The value of property for purposes of depreciation. For example: A purchased asset The basis is cost, whether fully paid for or not. The method for determining the basis is different […]

  • Basis for Depreciation

    Concept of Basis For Depreciation in the context of Real Property A short definition of Basis For Depreciation: The value of property for purposes of depreciation. For example: A purchased asset The basis is cost, whether fully paid for or not. The method for determining the basis is different […]

  • Depreciation Methods

    Concept of Depreciation Methods in the context of Real Property A short definition of Depreciation Methods: Accounting methods to compute the decrease in value of an improvement.

  • Economic Age-life Method of Depreciation

    Economic Age-life Method of Depreciation in the context of Real Property See: Age-Life Method of Depreciation in this legal Dictionary.

  • Age-life Method of Depreciation

    Concept of Age-life Method of Depreciation in the context of Real Property A short definition of Age-life Method of Depreciation: Estimating depreciation by using the ratio of the effective age of improvements to the Economic Life (Economic Age-Life Method) or Physical Life (Physical Age-Life […]

  • Depreciation Reserve

    Concept of Depreciation Reserve in the context of Real Property A short definition of Depreciation Reserve: An account for the amount needed for depreciation caused by time and use of equipment, buildings, etc. Common in accounting of public utilities.

  • Recapture of Depreciation

    Concept of Recapture of Depreciation in the context of Real Property A short definition of Recapture of Depreciation: Taxing as ordinary income, upon the sale of property, the amount of depreciation taken above straight line depreciation.

  • Life Asset Depreciation

    Concept of Adr (the Class Life Asset Depreciation Range System) in the context of Real Property A short definition of Adr (the Class Life Asset Depreciation Range System): A flexible set of guide lines for depreciation which sets up an asset depreciation period, rather than using […]

  • Depreciation

    Depreciation

    Diminution in value, particularly the deterioration or the loss or lessening in value arising from age and use of a property. See In Re Davies’ Estate, 96 N. Y.S.2d 191, 197 Misc. 827.

  • Depreciation Recapture

    United States Tax Concept of Depreciation Recapture An amount of prior depreciation that must be recaptured as ordinary income upon the sale of the property. Recapture is computed on Form 4797.