A full quarter section, such as the SW 1/4 of Section 12, contains:
Correct Answer
A) 160 acres of land
Why this is correct: A standard section in the rectangular survey system contains 640 acres. A quarter-section (like SW 1/4) is one-fourth of that, which is 640 acres / 4 = 160 acres. Why the other choices are wrong: '40 acres of land' is a quarter of a quarter-section (160/4). '320 acres of land' is half a section. '640 acres of land' is a full section. Exam tip: The math is division by four. A section = 640 acres. A 1/4 section = 160 acres. A 1/4 of a 1/4 section = 40 acres.
Why This Is the Correct Answer
Why this is correct: A standard section in the rectangular survey system contains 640 acres. A quarter-section (like SW 1/4) is one-fourth of that, which is 640 acres / 4 = 160 acres. Why the other choices are wrong: '40 acres of land' is a quarter of a quarter-section (160/4). '320 acres of land' is half a section. '640 acres of land' is a full section. Exam tip: The math is division by four. A section = 640 acres. A 1/4 section = 160 acres. A 1/4 of a 1/4 section = 40 acres.
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A property owner holds a leasehold interest in a commercial building with 8 years remaining on a 25-year lease. What type of property right does the tenant possess?
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An appraiser is valuing the leased fee interest in a property subject to a long-term ground lease. The lease has 25 years remaining with rent of $50,000 annually, and the reversion value is estimated at $2,000,000. Using a 7% discount rate, what is the present value of the reversion? (PV factor for 25 years at 7% = 0.1842)