capital improvement

capital improvement
An expense to be charged against principal, not income, of a trust. NY EPTL § 11-2.1, 1 (4)(B).

Ballentine's law dictionary. . 1998.

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  • capital improvement — See capital expenditure, above …   Black's law dictionary

  • capital improvement — See capital expenditure, above …   Black's law dictionary

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  • improvement — im·prove·ment n: a usu. permanent addition to or modification of real property that enhances its capital value and is distinguished from an ordinary repair in being designed to make the property more useful or valuable Merriam Webster’s… …   Law dictionary

  • capital expenditure — n: an amount paid out that creates a long term benefit (as one lasting beyond the taxable year); esp: costs that are incurred in the acquisition or improvement of property (as capital assets) or that are otherwise chargeable to a capital account… …   Law dictionary

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