Adjoining Property.

Adjoining Property.

ACCESSION — An addition to property through the efforts of man or by natural forces. ACCRETION — Accession by natural forces, e.g., alluvium. ACCRUED DEPRECIATION — The difference between the cost of replacement new as of the date of the appraisal and the present appraised value. ACCRUED ITEMS OF EXPENSE — Those incurred expenses which are not yet payable. The seller’s accrued expenses are credited to the purchaser in a closing statement. ACKNOWLEDGMENT — A formal declaration made before an authorized person, e.g., a notary public, by a acknowledgment is the statement by an officer such as a notary that the signatory to the instrument is the person represented to be.