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T/F: There will always be plenty of land for everyone who wants to buy some
FALSE.
The supply of land is fixed and can never be increased (Scarcity)
T/F: Combining two or more contigious parcels of real estate into a single parcel is know as "Plottage"?
FALSE
STATEMENT DEFINES ASSEMBLAGE
PLOTTAGE VALUE: any increase in value resulting from ASSEMBLAGE
T/F: AN INCREASE IN VALUE RESULTING FROM PLOTTAGE IS KNOWN AS ASSEMBLAGE VALUE?
PLOTTAGE VALUE IS any increase in value resulting from ASSEMBLAGE
FALSESINCE EACH PARCEL IS UNIQUE, REAL ESTATE IS UNLIKE THE MARKET FOR MOST OTHER COMMODITIES.
Soil from Smith's Land is washed down and deposited onto Brown's Property. Who owns the soil?
Brown owns the soil.
Land/Soil acquired by natural causes, such as this example of ACCRETION, belongs to the one who acquired it.
Two real estate developers are working on similar competing commercial developments. Both projects are finished at approximately the same time. Which of the following would most likely characterize the reasons that one succeeds while the other fails?
A: Supply and Damand
B: Situs
C: Plottage Value
D: Nonhomogeneity
The most logical reason for the different outcomes is the nature of the specific locations or "situs"
The accumulation of soil on an owner's property cause by movement of water is know as?
Accretion
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