functional obsolescence Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: functional obsolescence
functional obsolescence

decline in value due to changing tastes or technical innovation.

functional obsolescence

loss of value from all causes within the property except those due to physical deterioration.

Example: A poor floor plan or outdated plumbing fixtures are types of functional obsolescence.

See also curable depreciation , incurable depreciation or obsolescence
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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