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Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer. [ 4]
v. t. e. In common law systems, land tenure, from the French verb " tenir " means "to hold", is the legal regime in which land "owned" by an individual is possessed by someone else who is said to "hold" the land, based on an agreement between both individuals. [ 1] It determines who can use land, for how long and under what conditions.
Build–operate–transfer ( BOT) or build–own–operate–transfer ( BOOT) is a form of project delivery method, usually for large-scale infrastructure projects, wherein a private entity receives a concession from the public sector (or the private sector on rare occasions) to finance, design, construct, own, and operate a facility stated in ...
Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [ 1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is ...
The Appraisal Institute defines highest and best use as follows: The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical ...
[44] [45] A common simplified definition of a republic is a government where the head of state is not a monarch. [46] [47] Montesquieu included both democracies, where all the people have a share in rule, and aristocracies or oligarchies, where only some of the people rule, as republican forms of government. [48] These categories are not exclusive.
t. e. An easement is a nonpossessory right to use and/or enter onto the real property of another without possessing it. It is "best typified in the right of way which one landowner, A, may enjoy over the land of another, B". [ 1] An easement is a property right and type of incorporeal property in itself at common law in most jurisdictions.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...