Terminology | 2019.08.12
IAAO Outlines Position on Fee Simple Terminology
The International Association of Assessing Officers has approved a position that the term fee simple is a property rights concept that does not mean vacant or unencumbered by a lease and it is not a value concept to be used interchangeably with market value. The release follows a review of the definition of fee simple by the IAAO in its paper “Setting the Record Straight on Fee Simple.”
(PRWeb August 12, 2019)
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