Property Valuation
What is 'fee simple value' versus 'leased fee value' in Delaware property appraisal?
AFee simple value is the value as vacant land; leased fee is the value with improvements
BFee simple value is unencumbered ownership; leased fee value is ownership subject to an existing tenant lease✓ Correct
CFee simple value includes mortgage debt; leased fee value excludes it
DBoth terms describe the same type of value
Explanation
Fee simple value reflects unencumbered ownership (as if vacant and available). Leased fee value reflects ownership subject to an existing lease — it may be higher or lower than fee simple depending on whether the lease rate is above or below market.
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