IAAO 201 Questions and Answers with Verified Solutions
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Course
IAAO 201
Institution
IAAO 201
Land An immovable and indestructible three-dimensional area consisting of a portion of the
earth's surface, the space above and below the surface, and everything growing on or
permanently affixed to it.
Five Attributes of Land "PUFFS"
Permanent
Unique
Finite Supply
Functional
Stationary
Fo...
IAAO 201 Questions and Answers with Verified Solutions Land ✔✔An immovable and indestructible three -dimensional area consisting of a portion of the earth's surface, the space above and below the surface, and everything growing on or permanently affixed to it. Five Attributes of Land ✔✔"PUFFS" Perma nent Unique Finite Supply Functional Stationary Four Value Characteristics of Land ✔✔"DUST" Demand Utility Scarcity Transferability Raw Land ✔✔is in its natural state, prior to grading, construction, and subdividing. It is UNDEVELOPED, in agricultural use, or intended for development. Site ✔✔Improvements that prepare the land for development (to be built upon). Six rights associated with land ownership ✔✔"SLUGER" Sell Lease or rent Use Give away Enter or leave Refuse to do any of these Fee Simple Absolute Ownership ✔✔When all six rights of land ownership are owned. Government restrictions on ownership rights. ✔✔"TEPE" Taxation
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