Basic property definition
Basic property means real estate, property designated as basic property by the articles of association, property incorporated into the basic property according to decisions of the board of directors, and the annual budgetary surplus reserve of the institution.
Examples of Basic property in a sentence
Basic property information, such as site plans and square footage.
Basic property restoration does not include such items as the reinstallation of fencing; the replacement of decking, concrete, or asphalt; nor replacement of any landscaping flora, i.e., bushes, trees, shrubs, etc.
Basic property restoration includes returning the property surface to an even grade.