Real Estate Terms

The local government agency, such as a county assessor's office, determines the dollar value assigned to a property for calculating property taxes. This agency considers various factors, including the...

Assessed value is the value assigned to a property by the government for calculating property taxes. Market value is the estimated price that a property would sell for in the open market under normal...

An encroachment refers to the unauthorized intrusion or occupation of someone else's property, exceeding the legally designated...