Question

An increase in the value of real property due to positive physical or economic changes or a reduction in or elimination of negative factors.

A. Appraisal
B. Economic obsolescence
C. Appreciation
D. Lien

Answer 1

Appreciation is the correct answer as it refers to the increase in the value of real property due to positive physical or economic changes.

Step-by-step explanation:

C. Appreciation

Appreciation is an increase in the value of real property due to positive physical or economic changes. Examples of economic changes that can lead to property appreciation include rapid growth in the economy of a major trading partner or the development of a major new technology offering profitable opportunities for business. It is important to note that appreciation can also occur due to positive physical changes, such as renovations or improvements made to a property.