Property Valuation
In Missouri, a property with an undesirable easement (e.g., utility corridor) would most likely sell for:
AMore than a comparable without the easement
BLess than a comparable without the easement✓ Correct
CThe same price regardless of the easement
DAbove market value because of the land area
Explanation
An easement that limits use or enjoyment of a property typically reduces its market value compared to a similar property without the encumbrance.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
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