Actual Age

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • existence
  • date

Definition of Actual Age

  1. The actual age (usually in years) of a structure since building was complete. This differs from effective age.

Related Terms and Acronyms

  • Effective Age Bank,
    • An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
  • Depreciation Bank,
    • The gradual loss of value of a building or other property because of age or natural wear.
  • Distressed Property Bank,
    • Property that is in poor condition, or whose owner is in poor financial condition.
  • Tear-down Condition Definition,
    • A house that is bought so it can be razed to make room for a newer house; usually located in a spectacular setting.
  • Attained Age Definition,
    • The current age of an insured individual.
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