An insurance policy that promises to pay all the legal obligations of the insured due to negligence in which damage to the property has been caused.
Property damage liability losses
Losses arising from damage to or destruction of property.
Property depreciation insurance
Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement.
Property description
A legally acceptable description of real estate including metes and bounds, government rectangular survey, or lot numbers of a recorded plat. All property deeds have a legal description.
Property insurance
Insurance affording protection against losses due to damage to or destruction of property or contents therein. Insurance protects assets and any future income thereon from loss, such as a fire, etc.
Property inventory
A listing of all assets a person or business own, their cost and appraised value.
Property line
Official dividing line between two properties. Legal boundary of property.
Property management
The operation of property as a business, including rental, rent collection, maintenance, etc.
Property report
Required by the Interstate Lane Sale Act for the sale of subdivisions of 50 lots or more, if the subdivision are not otherwise exempt. Filed with HUD's Office of Interstate Land Sales Registration (OILSR).
Property residential technique
In appraisal, a method for estimating the value of property based on estimated future income and the reversionary value of the building and land.
