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
Document that must accompany a new issue of securities for a real estate company or partnership. It includes the same information in the registration statement, such as a list of directors ...
Sections of a homeowner policy. Section I relates to the home, contents, and accompanying structures. Section II provides comprehensive coverage for personal liability and the medical ...
one having physical existence and a life exceeding one year. It is not kept for resale in the ordinary course of business. An example is a building. ...
Process of conferring and consulting with clients concerning real estate investments and developmental projects. See also American Society of Real Estate Counselors (ASREC). ...
Property description contained in a title deed. A deed description is intended to inform a reasonable person where property is located. It can be described by metes and bounds, by ...
Wondering what is a quitclaim deed? Well, the best quitclaim deed definition is something like a legal document used when someone is transferring a real estate property to another person. ...
U.S. law making it illegal to discriminate when giving credit based on factors such as race, religion, color, age, national origin. A lender must respond to credit applications within 30 ...
Determines the ability of soil to absorb and draw down water. A percolation test is essential to determine the location of a drainage field for waste disposal. ...
Unintentional error. An example is a house that the seller wants $1,000,000 for but it is mistyped as $100,000. An error may be unilateral or mutual. Some types of errors are the basis to ...
Have a question or comment?
We're here to help.