BUSI 330 Key PASSED Exam Questions and CORRECT Answers

Core attributes of landImmobility Development (change density - change value) Durability (mostly lasts forever - value does not) Divisibility of Ownership - can be divided physically and legally Concept of LandGSEE Geographic and environmental (Physical) -diverse physical characteristics and how they combine Values can fluctuate due to weather and climate conditions - Government and Legal (rights and obligation: fee simple, uses, legal matters such as easements, use restrictions, record and conveyance of title) - Economic -Land is a physical entity with inherent ownership rights that can be legally limited and a major source of wealth - Social (how land is used - different views and opinions; laws enacted to serve public) Laws are enacted by the government enacted to serve the public - building restrictions, zoning and building ordinances, development and subdivision regulations and other land use controls.