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Simple English definitions for legal terms
best use
Read a random definition: UDITPA
A quick definition of best use:
Use refers to the way something is used or applied. It can be a long-term or temporary possession of something for its intended purpose. There are different types of use, such as beneficial use, conditional use, and nonconforming use. The highest and best use is the most profitable use of a property. Other types of use include incidental use, public use, and reasonable use. Use can also refer to the right to take profits from land owned by someone else.A more thorough explanation:
Definition: The most profitable or suitable use of a property.
Examples:
- A vacant lot in a commercial area may have the best use as a retail store or office building.
- A large house in a residential area may have the best use as a multi-family apartment building.
These examples illustrate that the best use of a property is determined by its location and potential profitability. It is important for property owners and investors to consider the best use of a property in order to maximize its value and potential income.