The Equivalence Ratio (ER) Is ________ Lambda

question 9

Multiple Choice

The equivalence ratio (ER) is ________ lambda.

• A) 5% higher than
• B) the same as
• C) the inverse of
• D) 5% lower than

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Definitions:

Fee Simple

The most extensive interest in real property available in law, allowing the owner absolute ownership, including the rights to sell, lease, or bequeath the property.

Life Estate

A legal interest in real property that lasts for the lifetime of a specific individual, after which the property reverts to another party.

Fixture

An item of property that is attached to a structure or land in such a way that it is considered a permanent part of the site.

Registry System

A system of recording information and transactions, often related to property ownership, to provide legal evidence and ensure public access.