Improvements
Definitions
- (n.) Additions or alterations made to property that enhance its value or utility.
The landlord is responsible for maintaining all improvements on the leased premises.
- (n.) Expenses incurred in enhancing or bettering property rather than maintaining it.
Improvements must be capitalized and depreciated according to tax rules.
Related terms
Commentary
In legal contexts, 'improvements' generally refers to physical changes to property that increase its value; distinguish from repairs and maintenance which do not qualify.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.