All are principles of physical characteristics of real estate EXCEPT:

Real estate is indestructible and in a fixed location.

Land does not depreciate; only improvements depreciate.

No two pieces are exactly alike: they are non-homogeneous.

The availability of mortgage credit.

Jeff just didn't get around to paying his ad valorem taxes. He didn't think it was important until a list of delinquent taxes was published in the local paper, and he found his property address on the list. A tax certificate was issued to an investor for Jeff's property. How long does Jeff have to redeem his property by paying all taxes, costs, and interest to the county before the foreclosure process begins?

30 days

9 months

2 years

5 years