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
Upon satisfaction of a mortgage or other debt payments, the deed releases property, or a portion of it, form the incumbrance. Often it is used in circumstances where a deed of trust is ...
Neighborhood square somewhat resembling a park. It is often owned by town or row house owners situated near the square. ...
A way to sell and finance property by which the seller keeps title but the buyer takes possession while installment payments are being made. The gain is taxed while the mortgage ...
Court or government regulatory order to stop doing something, such as not showing minorities certain neighborhoods. ...
Arrears is a legal and financial term used to describe payments in regards to their due dates. While the term is more often used to refer to a contractual obligation or liability that was ...
Technique used to estimate how the value of a parcel of land will affect its ability to support a given commercial improvement leaving sufficient residual net income to maintain adequate ...
Stairs or porch by the front door of the house. ...
Individual who gives false statements under oath, which is a criminal act punishable by imprisonment and fine. An example is signing a tax return that fraudently understates rental income, ...
Amount the taxpayer gets back when he or she files the tax return at the end of the reporting year because taxes were overpaid for that year. The tax overpayment equals the tax payments ...
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