Simple English definitions for legal terms
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Unearned Increment: This term refers to an increase in value of something that a person did not work for or earn. For example, if someone buys a piece of land and the value of the land goes up over time, that increase in value is considered an unearned increment because the person did not do anything to make the land more valuable.
Definition: Unearned increment refers to an increase in the value of property or assets that is not a result of any effort or work by the owner. It is an increase in value that occurs due to external factors such as changes in the economy, population growth, or government policies.
Examples:
These examples illustrate how unearned increment can occur due to external factors that are beyond the control of the property owner. In both cases, the property owner did not do anything to directly increase the value of their property, but rather benefited from changes in the surrounding environment.