California Real Estate Exam

Category - California

What is the economic life of an improvement?

  1. Between the completion of the building and its inability to produce income
  2. The extent of the improvement's physical life
  3. When it stops producing income equal to taxes, maintenance, and utilities
  4. None of the above
Explanation

Answer: A - The economic life of an improvement is the period of time in which it is economically productive.

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