Principles of Real EstateQuestion 16 of 100
In real estate valuation, the term 'situs' refers to:
a.A type of mortgage
b.The soil composition of a lot
c.The chain of title
d.The preference or economic attractiveness of a location
Explanation
Situs is the economic attractiveness of a location, reflecting people's preference for one area over another. It is one reason location so strongly influences value. Because land is immobile, its situs cannot be moved, only the surrounding conditions can change.
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