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actual age

   Also found in: Encyclopedia 0.03 sec.
actual age
In appraisal, the true age of a property,as opposed to its effective age.A building might have an actual age of 25 years but an effective age of 3 years because of massive renovations made 3 years earlier.A house with six small children in the family might have an actual age of 2 years and an effective age of 18 years.


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