In appraisal, the principle of anticipation refers to...

• A. The current market value based on comparable sales.
• B. The legal rights to the property as of today.
• C. The expected profit from a short-term lease.
• D. The appraisal estimates the quantity, quality and duration of anticipated future benefits.

Answer: (D)

Anticipation means value is driven by the expectation of future benefits the property will produce, and those benefits are analyzed to determine present value. The correct choice captures this by describing the appraisal as estimating the quantity, quality, and duration of anticipated future benefits. In real estate, those future benefits can include rental income, use or enjoyment, potential appreciation, tax advantages, and other future advantages that buyers factor into what they’re willing to pay today. The other options miss the point: current market value based on comparables looks at present data, not future benefits; legal rights today describe ownership status rather than future benefits; and a short-term lease profit is one specific future benefit, not the broader, time-spread expectation that underpins value.