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Exam (elaborations)

IAAO 201 Questions and Answers with Verified Solutions

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  • Course
  • IAAO 201
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  • 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...

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  • September 7, 2023
  • 11
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • IAAO 201
  • IAAO 201
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VasilyKichigin
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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