Define: Improvements to real property

How is Improvements to real property defined in a legal contract?

• Improvements to real property means adding value or enhancing the utility of land by erecting or affixing things on it with the intention to adapt it to new or further uses. Such improvements might include structures, buildings, machinery, equipment, electrical and mechanical systems, roads, water, and wastewater treatment and distribution systems. Seen in 17 SEC filings.
• Improvements to real property means the construction, addition to or replacement of, or completion of any [structure] to be placed on [land]. Seen in 1 SEC filing.
• Improvements to real property means permanent additions to or enhancements of [land], which are more extensive than ordinary repairs and serve to substantially raise the value of the property. Seen in 1 SEC filing.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 2

• Improvements to real property means more than ordinary repairs, substantially raising the property's value.

Relevant Contract Types

• Property Management Agreement

Relevant Circumstances

• Managing a residential or commercial property
• Planning significant renovations

Relevant Sectors

• Property Management
• Construction

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Genie Definition 3

• Improvements to real property means the construction or completion of structures on [land].

Relevant Contract Types

• Construction Contract
• Land Development Agreement

Relevant Circumstances

• Constructing new buildings or structures
• Developing or refurbishing land

Relevant Sectors

• Construction
• Real Estate Development

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