11:59
should I just give up hope now
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LSDefine
Simple English definitions for legal terms
betterment
Read a random definition: capitalized expenditure
A quick definition of betterment:
Betterment means making something better. In real estate, it refers to improving a property in a way that increases its value. This can be done by adding something new or making changes that go beyond just fixing something that was broken. Betterment can also refer to improvements made to public places like roads or buildings. These improvements benefit everyone who uses them.
A more thorough explanation:
Betterment refers to an improvement made to real property that increases its value or utility. It can be an alteration or addition that goes beyond repair or restoration to a former condition.
- Adding a swimming pool to a backyard is a betterment because it enhances the property's value and utility.
- Renovating a kitchen with modern appliances and fixtures is a betterment because it improves the property's appearance and functionality.
- Building a new wing to a hospital is a betterment because it goes beyond repair or restoration and enhances the building's capacity to serve patients.
These examples illustrate how betterment can be a valuable investment that improves the quality and value of real property.