Reappraisal Lease
Definition of "Reappraisal lease"
lease computed as a percentage of the underlying appraised property value. Under the terms of a reappraisal lease, the rent is periodically adjusted using an independent appraisal of the property. For example, a commercial reappraisal lease provides that the rental terms can be adjusted every three years based on an independent property appraisal.
Popular Real Estate Terms
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Process of simultaneously appraising several pieces of property. Normally, occurs when a local government conducts a reassessment. ...
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