obsolescence

obsolescence
ob·so·les·cence /ˌäb-sə-'les-əns/ n: a loss in the utility or value of property that results over time from intrinsic limitations (as outmoded facilities) or external circumstances
◇ Obsolescence is usu. distinguished from depreciation and physical deterioration.
eco·nom·ic obsolescence: obsolescence that results from external factors (as location) that render a property obsolete, no longer competitive, unattractive to purchasers or investors, or of decreasing usefulness
claimed that the appraisal failed to account for economic obsolescence resulting from an adjacent waste facility
func·tion·al obsolescence /'fəŋk-shə-nəl-/: obsolescence deriving from a lack of adequate or appropriate equipment, space, or design

Merriam-Webster’s Dictionary of Law. . 1996.

obsolescence
index desuetude, disuse

Burton's Legal Thesaurus. . 2006


obsolescence
n.
1 A process or condition of becoming useless or obsolete.
2 A diminishing of a property's value or usefulness, especially because of innovations in technology, as distinguished from physical decay.
See also depreciation.

Webster's New World Law Dictionary. . 2000.

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