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
Property interest a person has that is presently possessed by another. Upon the termination of the possession, the property reverts to the grantor. ...
Haven’t you ever paid a bill a few days after the due date? It happened to all of us, not necessarily because we didn’t have the money, but because we simply forgot about it. A ...
Construction of commercial property in a manner that enables each lessee or tenant to have access to the main strip or thoroughfare running through the property. For example, this mode of ...
The capital expenditure definition is an evaluation method of investments that a company of any kind, including real estate developments, makes to maintain or upgrade tangible assets. These ...
Mortgagor's signed statement that the stated remaining balance of a mortgage is correct and it is a property lien. This prevents a mortgagor from later stating the facts were ...
Portion of a deed that states the act and date of the transfer of the property. ...
An administrator appointed by the government or the courts to administer the laws relating to a government agency or court. A commissioner is a part of a government or court commission. ...
An agreement by which the owner of property (the lender) and a borrower agree to let the borrower use the property for a particular time period and in return the borrower will pay the ...
The lessee becomes a lessor by subletting the property to a third party. Typically, the sandwich leaseholder does not own or use the property. ...
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