A developer in Orlando is selling a rectangular parcel described as "the north 1/2 of the southeast 1/4 of Section 15." If a full section contains 640 acres, how many acres is this parcel?
Correct Answer
D) 80 acres
80 acres is correct: Southeast 1/4 of 640 acres = 160 acres, then north 1/2 of 160 acres = 80 acres. 40 acres would be 1/4 of the southeast 1/4. 120 acres doesn't correspond to any standard fractional division. 160 acres would be the entire southeast 1/4 without taking the north half.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
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