The appraisal principle that real property value is created and sustained when the characteristics of a property conform to the demands of its market" is the definition of the principle of <u>Conformity</u>.
Real property refers to land and any assets that are at once attached to it, along with any subset of land which has been changed by way of legitimate human acts.
Examples of real property can encompass ponds, homes, reservoirs, canals, roads, and equipment. Real property is belongings that include land and the buildings on it, together with its natural resources such as plants, minerals, or water; immovable belongings of this nature; an interest vested in this object of real assets, homes, or housing is preferred.
Actual assets consist of undeveloped lands, like a forest or a field, and it consists of buildings, such as homes, condominiums, and workplace buildings. Real assets also consist of things related to the land, like subsurface rights.
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