Property Ownership
Riparian rights pertain to property owners whose land:
ABorders a navigable ocean or lake (littoral rights)
BBorders a river or stream✓ Correct
CIs located in a floodplain
DIs adjacent to a public road
Explanation
Riparian rights belong to landowners whose property borders a moving body of water (river or stream), granting them the right to use the water flowing past their land in a reasonable manner.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
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