Which statements regarding highest and best use is false

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Problem 1: Which of the following statements regarding highest and best use is FALSE?

(1) Highest and best use an important part of AIC's First Principles of Value.

(2) The test of legal permissibility addresses the use allowed under the current zoning and also considers potential for a change in zoning.

(3) If the tests for legal permissibility, physically possibility, and financial feasibility are all positive, then the test for maximum productivity does not have to be considered.

(4) If the property creates or produces a positive net return on the investment, then it passes the test of financial feasibility.

Reference no: EM132906442

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