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Betterment
In real estate, betterment is the increased value of real property from causes other than investment made by the property owner. It is, therefore, usually referred to as unearned increment or windfall gain. When, for instance, a property is rezoned for higher-value uses, or nearby public improvements raise the value of a piece of private land, a property owner is "bettered" due to the actions of others. Because of this, value capture, capturing the value of betterment for the public through taxation or other means is a common policy approach. Betterment in terms of property rights and the residual value model Property rights and residual value A property rights holder has a residual claim to income generated in the space over which they have exclusionary rights (“pay to use this space or I’ll exclude you from it”). But these rights are a limited Bundle of rights. They evolve as the law evolves, including zoning and planning law. The value of private property rights i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an Land improvement, improvement or Fixture (property law), fixture) to be considered part of the real property, it must be integrated with or affixed to the land. This includes crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property, or personalty, was, and continues to be, all property that is not real property. In countries with personal ownership of real property, civil law (legal system), civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Capture
Value capture is a type of public financing that recovers some or all of the value that public infrastructure generates for private landowners. In many countries, the public sector is responsible for the infrastructure required to support urban development. This infrastructure may include road infrastructure, parks, social, health and educational facilities, social housing, climate change adaptation, climate adaptation and mitigation tools, and more. Such infrastructure typically requires great financial investment and maintenance, and often the financing of such projects leans heavily on the government bodies themselves. Public entities, tasked with creating and maintaining this infrastructure, are constantly in search of mechanisms which can allow for fiscal support of these investments. One such mechanism of financing is value capture. Value capture schemes secure and recover a portion of the benefits delivered by public investments, in order to offset the costs of the investment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bundle Of Rights
The bundle of rights is a metaphor to explain the complexities of property ownership. Law school professors of introductory property law courses frequently use this conceptualization to describe "full" property ownership as a partition of various entitlements of different stakeholders. The concept originated with Wesley Newcomb Hohfeld in 1913, although he himself never used the phrase "bundle of rights". It was further developed and propagated to a broader audience in the form of the first Restatement of Property (published in five volumes between 1936 and 1944), because the Restatement's first reporter, Harry Bigelow, was a fan of Hohfeld's ideas. The bundle of rights is commonly taught in first-year property courses in law schools in the United States to explain how property can simultaneously be "owned" by multiple parties. Before it was developed, the idea of property was seen in terms of dominion over a thing, as in the ability of the owner to place restrictions ''o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Highest And Best Use
Highest and best use (or highest or best use; HBU) is a concept in real estate appraisal that originated with early economists such as Irving Fisher, who conceptualized the idea of maximum productivity. According to the doctrine of "highest and best use," in any case where the market value of real property is sought, that value must be based on that use that would produce the highest value for a property, regardless of its actual current use. Definitions of highest and best use The Appraisal Institute of Canada defines the term highest and best use as: The reasonably probable and legal use of property, that is physically possible, appropriately supported, and financially feasible, and that results in the highest value. 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 fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bogotá
Bogotá (, also , , ), officially Bogotá, Distrito Capital, abbreviated Bogotá, D.C., and formerly known as Santa Fe de Bogotá (; ) during the Spanish Imperial period and between 1991 and 2000, is the capital city, capital and largest city of Colombia, and one of the List of largest cities, largest cities in the world. The city is administered as the Capital District, as well as the capital of, though not politically part of, the surrounding department of Cundinamarca Department, Cundinamarca. Bogotá is a territorial entity of the first order, with the same administrative status as the departments of Colombia. It is the main political, economic, administrative, industrial, cultural, aeronautical, technological, scientific, medical and educational center of the country and northern South America. Bogotá was founded as the capital of the New Kingdom of Granada on 6 August 1538 by Spanish conquistador Gonzalo Jiménez de Quesada after a harsh Spanish conquest of the Muisca, e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medellín
Medellín ( ; or ), officially the Special District of Science, Technology and Innovation of Medellín (), is the List of cities in Colombia, second-largest city in Colombia after Bogotá, and the capital of the department of Antioquia Department, Antioquia. It is located in the Aburrá Valley, a central region of the Andes Mountains, in northwestern South America. The city's population was 2,427,129 at the 2018 Colombian census, 2018 census. The Metropolitan Area of Medellín, metro area of Medellín is the second-largest urban agglomeration in Colombia in terms of population and economy, with more than 4 million people. In 1616, the Spaniard Francisco de Herrera Campuzano erected a small indigenous village (''poblado'') known as "Lawrence of Rome, Saint Lawrence of Aburrá" (''San Lorenzo de Aburrá''), located in the present-day El Poblado (Medellín), El Poblado commune. On 2 November 1675, the queen consort Mariana of Austria founded the "Town of Virgin of Candelaria, Our L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
