An improvement that adds to the capital value of the structure. A capital value which increases the utility or market desirability of the property. It is distinguished from repairs or replacement by the fact that the original character is improved and the value is increased. A physical change in an existing property or equipment that increases its value or usefulness...

Mortgagee One to whom a mortgagor gives a mortgage to secure a loan or performance of an obligation; i.e., the lender under a mortgage. Mortgagor One who gives a mortgage on his or her property to secure a loan or assure performance of an obligation; i.e., the borrower under a mortgage. Related Information Real Estate Licence Courses (http://www.pts.edu.au)

One who speculates; that is, one who buys any commodity, including Real Estate, in the expectancy of selling in a higher market. Related Information Real Estate Qualifications (http://www.pts.edu.au)

A mortgage over a residential property owned by a person (usually over 55 years of age), where repayments are not required until the property is sold or the last homeowner dies. Related Information Real Estate Traineeships (http://www.pts.edu.au)

A decrease in a properties size. This could be caused by erosion on a creek, river or beach. Related Information Business Courses (http://www.pts.edu.au)