Real Estate Terms Glossary: I

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Improvements
Anything added or modified on real estate property to increase its value.

Income Property
Real estate property purchased primarily for the income to be derived plus certain tax benefits, such as accelerated depreciation. Income property can be commercial, industrial or residential.

Ingress
To means by which a property is entered. The right to go in. Contrast with Egress.

Inhabit
To dwell in or to occupy a property.

Inspection
The evaluation of real estate property by a professional.

Investment
The outlay of money for income or profit.

Involuntary Alienation
Transfer of title to real estate property as a result of a lien foreclosure sale, adverse possession, filing a petition in bankruptcy, condemnation under power of eminent domain, or, upon the death of the title holder, to the state is no heirs.

Involuntary Lien
Lien without owner consent. Any lien which attaches to real estate property without the consent of the owner. Example, a tax lien or judgment lien.

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