@Carl wrote:
Here's the definitions as interpreted by me so we "normal folks" can make some kind of sense of it.
Except you managed to add at least one element that is not required: a higher appraisal.
For example, an in-ground swimming pool would definitely be considered an "improvement" but might not add any value if installed at a house in Fairbanks, Alaska (it might actually result in a lower appraised value). Obviously, there are a plethora of similar examples.
