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
Tax imposed by some state and local governments to record into the public record property deeds and mortgages. ...
An increase in the price or market value of real estate. ...
There’s a lot of confusion regarding the hazard insurance definition. Many people think it’s a synonym for homeowners insurance but they’re wrong. Hazard insurance is ...
Existing state of affairs with respect to the real estate market and conditions. ...
Primary residence of an individual. The principal residence can be a single family home, condominium, cooperative, or trailer. A principal residence may qualify for a homestead exemption in ...
English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...
The practice of acquiring land for a future use. For example, a franchising company is projecting rapid nationwide expansion over the next five years. In order to prepare for the expansion, ...
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Land located on a precipice. ...
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