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What is the interrelationship between Property Utility and highest and best use?
Property Utility - is the current use and functionality (function, service, value, efficiency, practical usefulness) of a property. If the property use is optimised, the property is said to have a higher functional utility and when it is underutilised the property is said to have a functional utility lower than comparable market value.It may occur that a reduction of a property's utility or value has advanced to such an extent that it is no longer capable of an economically viable use in its current state, e.g. a collapsed building or a commercial building that has become isolated due to lack of access brought about by road changes.Given the highest and best use is applied as productively as possible within the given potential and constraints of the property, the property utility would be optimised (used to its highest capability) and therefore the property would be optimised in use and value.The interrelationship between the 2 concepts of the highest and best use and the property utility is the question of: Does the property provide reasonable use for a particular value (the property's current functional utility) or would one find/appraise a higher and better use for the property?
Can you use property as collateral for a mortgage?
Yes, you can use property as collateral for a mortgage. This means that if you fail to repay the loan, the lender can take ownership of the property to recover their money.
How can I use property as collateral for a mortgage?
To use property as collateral for a mortgage, you would need to offer the property as security to the lender in exchange for the loan. If you fail to repay the mortgage, the lender can take possession of the property to recover their money.
How do you use kilolitre in a sentence?
we use kilolitre in a sentence by its abbreviation "kl" for eg: 100 kl
Is investment property real property?
What PropTech tools do NRI investors use to manage their Indian real estate?
How do you use the word property in a sentence?
The property is for sale. A property of water is that it is a liquid.
How can you use the word property in A sentence?
The property was completely destroyed by fire.
How can you use covet in a sentence?
to covet another's property.
How do you use property and substance in a scientific sentence?
the property of a substance causes the chemical to overload
How would you use private property in a sentence?
Everyone that owns a house has their own private property.
How can you use melting point and phsical property in a sentence?
Sure?!?!?!?!!?!?!
Use the word sabotaging in a sentence?
The kids were sabotaging the property.
How do you use acre in a sentence?
The property was one square acre.
How do you use vacate and vacation in a sentence?
I was told to vacate the vacation property I had rented.
Use the word property in a sentence?
The private property contained a no trespassing sign to keep unwanted criminals away from vandalizing it.
How to use transient in a sentence?
The transient citizens were often arrested for trespassing on private property.
Use subdivide in a sentence?
I bought this property to subdivide and sell in half acre lots.
