NosyBeagle
19:28
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LSDefine
Simple English definitions for legal terms
improvement
Read a random definition: Family and Medical Leave Act (FMLA)
A quick definition of improvement:
Improvement: An improvement is a good change made to a piece of land that makes it more valuable. This can include adding buildings or structures, fixing up existing ones, or adding things like driveways or utility services. When someone buys the land, they also get the improvements that were made to it. The value of the improvements is an important part of how much the land is worth.
A more thorough explanation:
In property and real estate law, an improvement refers to any permanent change made to a piece of land that increases its value. This change can be a new building or structure, an addition to an existing building, or even repairs or renovations to an existing structure. Examples of improvements include:
- Building a new house on a piece of land
- Adding a garage or shed to an existing property
- Installing a new driveway or walkway
- Connecting the property to utility services like water, gas, or electricity
When a property is sold or transferred, any improvements made to the land are also transferred along with it. The value of these improvements is an important factor in determining the overall value of the property.
For example, if someone builds a new house on a piece of land, the value of the property will increase significantly. This is because the new house is a permanent improvement that adds value to the land. Similarly, if someone adds a garage or shed to an existing property, the value of the property will increase because the new structure is a permanent improvement that makes the property more useful and valuable.