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Heir

In real estate law, an Heir is a person who inherits property when the owner dies without leaving a valid will. The distribution of the property is determined by state intestacy laws, which establish who is legally entitled to inherit. Heirs may include spouses,...

Economic Obsolescence

In real estate, Economic Obsolescence refers to a loss in a property’s value caused by external...

Economic Life

In real estate, Economic Life refers to the period during which an improvement on a property...

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HUD

HOUSING & URBAN DEVELOPMENT

HUD

(Department of Housing and Urban Development)

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