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The life tenant cannot open the land to search for minerals and other natural resources, but if the quarries or mines were open before the tenant took the life estate, then it is not waste for the life tenant to continue their use. [1] Where the life tenant opens the land for new mines (i.e., voluntary waste) a remainderman can enjoin such.
[2] ". In some cases, a proposed use might be the highest and best use but for some cost that changes the net economics. An example might be an industrially-used site that can now be used legally for high-rise residential buildings, but would cost so much to clean up (remediate) that the value as currently used is higher.
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate. [17]
Moreover, there is changes on the requirements of land use planning overtime. For example, whilst most of the urban planners suggest the distance from the landfill that a housing estate should be built, they must also take wind direction into consideration [20] Aerial view of Rosslyn-Ballston corridor in Arlington, Virginia.
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The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
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related to: texas principles of real estate 2 exam