Excess land is best described as land that has which characteristic?
Correct Answer
C) Has its own highest and best use and can be sold
Why this is correct: Excess land is a portion of a site that is not necessary to support the existing improvement's highest and best use. It is physically separable and can be sold or developed independently, meaning it has its own distinct highest and best use. Why the other choices are wrong: "Cannot be separated from the site it now serves" describes surplus land. "Lies within a floodplain and cannot be developed" describes a physical limitation, not a classification of excess land. "Is required to meet the zoning setback minimums" describes land that is essential to the site. Exam tip: Excess land is separable and has independent value. Surplus land is not needed but may not be easily separated.
Why This Is the Correct Answer
Why this is correct: Excess land is a portion of a site that is not necessary to support the existing improvement's highest and best use. It is physically separable and can be sold or developed independently, meaning it has its own distinct highest and best use. Why the other choices are wrong: "Cannot be separated from the site it now serves" describes surplus land. "Lies within a floodplain and cannot be developed" describes a physical limitation, not a classification of excess land. "Is required to meet the zoning setback minimums" describes land that is essential to the site. Exam tip: Excess land is separable and has independent value. Surplus land is not needed but may not be easily separated.
More Land/Site Questions
Under which condition is the land residual technique most applicable?
Why can the same physical parcel carry different values in two assignments?
In a built-up area where no vacant land has sold for years, which approach to site value is the usual fallback?
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A land comparable sold 18 months ago in a market rising about 4 percent a year. What adjustment direction applies?
Why does a developer's required profit rise for a longer subdivision project?
How does holding cost enter the valuation of land bought for future development?
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Which of the following is an off-site improvement rather than a site improvement?
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