REE-4143 Chapter Notes - Chapter 1: Escheat

• School: FSU
• Department: Risk Management/Insurance, Real Estate and Legal Studies
• Course: REE-4143
• Professor: Zhou

Document Summary

Components of property value: real estate has 2 major physical components, land- the ea(cid:396)th"s su(cid:396)fa(cid:272)e, i(cid:374)(cid:272)ludi(cid:374)g la(cid:374)d, wate(cid:396), a(cid:374)d a(cid:374)ythi(cid:374)g atta(cid:272)hed to it; and natural resources in their original state. Identifiable, portable, and tangible objects that are considered by the ge(cid:374)e(cid:396)al pu(cid:271)li(cid:272) as (cid:271)ei(cid:374)g (cid:862)pe(cid:396)so(cid:374)al(cid:863: not typically attached, business enterprise value, the value resulting from business organization, tax incentives. Mortgage and equity interests: once debt is incurred, the lender receives a mortgage interest on the property. Real estate market characteristics: no organized market, availability of market information. Information concerning sales price, lease terms, financing, and any other agreements that are part of a transaction may be confidential and unavailable to individuals who are not parties to the sale. Immobility of real estate: each parcel is unique, segmented markets, real estate market is divided into numerous segments or submarkets that do not necessarily behave the same way.