improvement

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improvement

n. any permanent structure on real property, or any work on the property (such as planting trees) which increases its value.

improvement

noun amelioration, betterment, change for the better, melioration, recovery, rehabilitation
Associated concepts: improvement bond, improvement district
See also: advance, advancement, advantage, amendment, augmentation, behalf, benefit, betterment, boom, change, correction, development, edification, growth, headway, increase, panacea, profit, progress, promotion, prosperity, reform, rehabilitation, renewal, reorganization, repair, revision, revival

IMPROVEMENT, estates. This term is of doubtful meaning It would seem to apply principally to buildings, though generally it extends to amelioration of every description of property, whether real or personal; it is generally explained by other words.
     2. Where, by the terms of a lease, the covenant was to leave at the end of the term a water-mill with all the fixtures, fastenings, and improvements, during the demise fixed, fastened, or set up on or upon the premises, in good plight and condition, it was held to include a pair of new millstones set up by the lessee during the term, although the custom of the country in general authorized the tenant to remove them. 9 Bing. 24; 3 Sim. 450; 2 Ves. & Bea. 349. Vide 3 Yeates, 71; Addis. R. 335; 4 Binn. R. 418; 5 Binn. R. 77; 5 S. & R. 266; 1 Binn. R. 495; 1 John. Ch. R. 450; 15 Pick. R. 471. Vide Profits. 2 Man. & Gra. 729, 757; S. C. 40 Eng. C. L. R. 598, 612.
     3. Tenants in common are not bound to pay for permanent improvements, made on the common property, by one of the tenants in common without their consent. 2 Bouv. Inst. n. 1881.

IMPROVEMENT, rights. An addition of some useful thing to a machine, manufacture or composition of matter.
     2. The patent law of July 4, 1836, authorizes the granting of a patent for any new and useful improvement on any art, machine manufacture or composition of matter. Sect. 6. It is often very difficult to say what is a new and useful improvement, the cases often approach very near to each other. In the present improved state of machinery, it is almost impracticable not to employ the same elements of motion, and in some particulars, the same manner of operation, to produce any new effect. 1 Gallis. 478; 2 Gallis. 51. See 4 B. & Ald. 540; 2 Kent, Com. 370.

References in periodicals archive ?
The above example illustrates the notion that, in the early years of an asset's life, a land improvement is depreciated at a faster rate than the nonresidential real property.
Farm size, land improvement techniques, membership of associations, and access to extension service significantly contributed to predicting the households into food security groups.
As noted, when an investor purchases a parcel of improved real estate, he or she purchases a "package" consisting of land, building, land improvements, and personal property.
Tax advisers can review prior-year returns and documentation to determine if land improvements were correctly classified, and if bonus depreciation is available.
c) the reverse route of the portable refrigerators with empty bottles and ice packs, by the services of the General Chemistry of the State (Athens - Ioannina) and the Institute of Soil Resources (IEYP) - former Institute of Land Improvements (I.
A cost segregation study is the process of identifying the component parts of real property and depreciating components identified as either personal property or land improvements over a shorter depreciation period for federal tax purposes.
The government's contribution has to be used for new investments including: buying machinery and equipment, agricultural infrastructure, land improvements, irrigation systems, and renewable energy systems, among others.
During the intervening two decades, regions of the country with the least woodland saw the greatest increases in settlements, land improvements, land values, productivity, and crops such as corn, wheat, and oats.
TMM Tradgard & Markmiljo, based in Gothenburg in Sweden, specialises in land improvements, gardening and landscaping.
199-3(m)(3) to include buildings, inherently permanent structures (other than machinery), inherently permanent land improvements, oil and gas wells, and other infrastructure.
A cost segregation study identifies the portions of the building that qualify as personal property and land improvements for depreciation purposes (but are still like kind for 1031 purposes).
A cost segregation study usually allocates costs to individual components of property, such as land, land improvements, building, equipment, furniture and fixtures.