Arkansas Real Estate Practice Exam

Unless otherwise indicated, what does the broker price opinion assume?

That the property is leased A fee simple title ownership interest without any resolution of minerals or otherwise That the property comes with full warranty coverage A partnership ownership

Correct Answer:

A fee simple title ownership interest without any resolution of minerals or otherwise

Explanation:

The broker price opinion is an estimate of the property's value based on the assumption that the property comes with fee simple title ownership interest without any resolution of minerals or otherwise. This means that all mineral rights are included and there are no outstanding legal issues regarding the property's ownership. Option A is incorrect because the broker price opinion does not assume anything about the property being leased. Option C and D are also incorrect because they pertain to other forms of ownership, which are not considered in a broker price opinion.

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