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A deduction from fixed assets to show the total amount of periodic charges to income over the
estimated useful lives of those assets. Also called Reserve for Depreciation.
accumulated interest
Interest dues that have accumulated as a result of non-payment in the past.
accumulation index
Financial index reflecting total return i.e., price appreciation and income return combined.
acquisition costs
The cost of acquiring a property; includes purchase price and all other allied costs like insurance and
legal fees, brokerage charges, etc.
acre
An area of land of any shape containing 43,560 square feet or 4,840 square yards or approximately
4,047 square meters.
acre foot
A volume of space covering one acre and with a depth of one foot (43,560 cubic feet or 1,233 cubic
meters).
acreage
Vacant land. Also refers to any plot of land that is measured in acres or any plot of land that has no subdivisions.
act of god
Damage caused by nature. Example: floods, hurricanes, tsunamis, etc. Also known as force majeure. An
unexpected event that prevents one from complying with certain terms and conditions in a contract.
action to quiet title
Legal proceedings that conclusively establish ownership over a property.
actual cash value
The price at which a property can be sold at a given point of time.
ad valorem
Literally, according to the value. Applied, for instance, to a scale of stamp duty, inheritance tax or fees.
addendum
Something that is added to an existing document. Example: supplementary to an agreement.
additions
Modifications to a building by adding on structures or creation of additional space, resulting in an
increase in dimensions or useable or covered areas.
ad-hoc
Latin term signifying a decision for a given situation only or specific to.
adjacent
Next to. May or may not be connected to.
adjoining
Next to and connected to.
Adjustable Mortgage Loans (AMLS)
Also called floating rate loans, flexible rate loans, variable rate loans and adjustable rate loans. Here,
the rate of interest varies and is adjusted from time to time to coincide with the rate prevailing in the
economy or to a pre-determined peg.
adjusted gross income
Total rental income of a property at full capacity minus amounts that cannot be collected on account of
vacancies and other reasons.
administrator
A person appointed by a court to manage an estate while testamentary proceedings are on. This person
also distributes the estate of a deceased person in accordance with the orders of the court.
adverse gearing
Where the total annual cost of borrowed money on a property or project exceeds the net rental income.
adverse possession (HKG)
Possessory title to land which is gained by occupying the land for a specific period of time, without the
interference of the land owner.
aerial survey
A survey of an area made by taking sequential photographs from an aircraft; plans are then drawn from
the photographs.
aesthetic value
The value of a property deriving from its architectural beauty or natural or manmade surroundings.
affidavit
A statement or declaration made in writing and under oath before a competent (usually court) official.
affirmation
Substitute for an oath.
afforestation
The planting of a forest where none previously existed.