Definition from Nolo’s Plain-English Law Dictionary
An increase in the value or worth of an asset or piece of property that's caused by external economic factors occurring over time, rather than by the owner having made improvements or additions. For example, increased market demand or inflation can cause property to appreciate. The term is commonly used in the context of real estate.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm