Property & OwnershipPregunta 105 de 120
Loss in property value caused by negative factors outside the property, such as a new highway creating noise, is called:
a.Functional obsolescence
b.External (economic) obsolescence
c.Physical deterioration curable by repair
d.Accrued appreciation
Explicación
External or economic obsolescence is a loss in value from factors outside the property boundaries, such as nearby nuisances or a declining local economy. It is generally considered incurable by the owner because the cause is off-site.
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