by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An assignment is a transfer to another of any property, real or personal, or of any rights or estates in said property. In real estate contract law, an assignment is the transfer of a party’s rights and obligations under a contract to another person or entity. This...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An area whose boundaries are set for tax assessment purposes only. An assessment district is a defined geographic area where property owners are charged an additional fee or tax to help pay for specific public improvements or services that benefit that area. These...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
An assessment is an estimate of value for tax purposes. Also referred to as assessed valuation. An assessment is a value assigned to a property, most commonly by a local government, for the purpose of calculating property taxes. This assessed value is typically...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The price at which the seller is offering property for sale. The asking price is the amount of money a seller lists a property for when it is put on the market, and it serves as the starting point for buyer interest and negotiations. The asking price is usually based...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
Premises accepted by a buyer or tenant in the condition existing at the time of the sale or lease, including all physical defects. “As-is condition” means the property is being sold in its current state, with the seller indicating they will not make repairs,...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
A hazardous material, used for fire resistance, once commonly used in insulation, flooring, and roofing materials. Asbestos is a naturally occurring mineral fiber that was widely used in building materials because it resists heat, fire, and corrosion, but it is now...
