Dictionary of Accounting Terms: land
land
real estate held for productive use or investment. Land is recorded at the acquisition price plus incidental costs including real estate commissions, attorney's fees, escrow fees, title and recording fees, delinquent taxes paid by the buyer, surveying costs, draining, and grading of the property.
Land is not subject to depreciation because it is not a wasting asset.
Dictionary of Business Terms: land
land
- real estate or real property, or any tract that may be conveyed by deed.
- estate or interest in real property; often refers not only to the earth itself but also to things of a permanent nature found or affixed there.
Dictionary of Real Estate Terms: land
land
the surface of the earth; any part of the surface of the earth. (Note: Legal definitions often distinguish land from water.)
