Local governmental ordinance breaking down the country into districts that are restricted on how private property is to be constructed and used. It applies to the land and buildings. The particular community's needs are taken into account. Zoning helps in maintaining or increasing property values. Zoning may by divided into residential, commercial, industrial, and agricultural. Each of these may be subdivided further. For example, residential may be segregated into single family homes, two-family homes, apartment buildings, and so on. Zoning may also make a district an historical one because of its importance in federal or local history. Zoning typically imposes height limitations on structures to protect other property owners. There are also restrictions on how many structures may be constructed in a particular geographic area. Zoning requirements may also exist as to parking and open space. Restrictions may also be placed on pollution and noise.
Popular Real Estate Terms
Need to understand what is a real estate contingency? In general, a contingency is a condition for something to happen, so the real estate contingency definition relates to provisions ...
Ownership interest in property that is above the minimum needed to meet uncertainties or a downward trend in real estate market. ...
Refinancing seems easy to understand but is it really? Here’s a lengthy refinancing definition so you can make up your mind once and for all regarding the exquisiteness of the ...
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Waste matter carried off through a series of conduits to a waste disposal facility. ...
Indicators reflecting future changes in economic conditions; referred to as the Composite Index of 11 Leading Indicators. This index indicates the direction of the economy in the next six ...
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Highest amount a property is worth equal to the amount that would have to be paid to buy equivalent property in the market place. ...
An equity-to-value ratio is an excellent tool for those homebuyers that want to understand how profitable an investment is based on the amount of money invested and the actual value of the ...
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