Glossary-I

Immovable Property

  • Includes land, buildings, hereditary allowances, lights, ferriesor any other fixed asset

Industrial Property

  • Any property used for a manufacturing purpose

Investment Property

  • Property purchased with an intention of receiving higher returns over investment

Insured Value

  • The amount for which a property is insured

Interest

  • The amount charged for borrowing money from the lender

Intestate

  • Intestate is a term used to denote a situation when a person dies without leaving behind a will