What is cost recovery period?
The statutory depreciation life: generally 27.5 years for residential rental property and 39 years for nonresidential (commercial) real property under GDS, recovered straight-line with the mid-month convention.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.