V

Value

The power of a thing to command other goods in exchange; the present worth of future rights to income and benefits arising from ownership.

Valuation

Estimated price, value, or worth. Also, the act of identifying a property's worth via an appraisal.

Variance

Government authorization to use or develop a property in a manner which is not permitted by the applicable zoning regulations.

Violation

Act, condition, or deed that violates the permissible use of property.

Void

Something that is unenforceable.

Voidable

A situation which is capable of being unenforceable but is not so unless direct action is taken.