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
Deed of trust or mortgage in real estate in which the lender subordinates her loan to another lender whose priority is first if there is nonpayment by the borrower. ...
Permits oral evidence to augment a written contract in certain cases. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
Branching is a widespread phenomenon in banking and other financial domains. A branch office defines an office or business bureau that a company opened in another location to provide ...
Matters that need to be rectified in a home or building prior to its sale or acceptance by a new owner. For example, a leaking water pipe should be repaired prior to showing the property to ...
Failure, without sufficient reason, for one or both parties to perform the terms of a real estate contract. Breach requires unequivocal, decisive, and absolute refusal to carry out the ...
A loan that is to be replaced by a permanent loan. ...
Every borrower has his own definition of amortization schedule in mind. An amortization schedule is a table that reveals how the debt is going to be paid back and at what cost. For most ...
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