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 title having no encumbrances. In the usual sense this means a title not having a mortgage. Other encumbrances could include judgments or additional financial liens. ...
legal ruling providing protection to home buyers of defective homes bought from a seller who then sold the contract to a third party. ...
A judicially approved plan in which a persons obligations are paid over three years. It is an arrangement for the repayment of debts which permits a credit user in severe financial straits ...
A building having one house hold on the first floor and a second household on the second floor. ...
The definition of net sales price in real estate is the combined total cost to the buyer of a listing, excluding any auxiliary costs such as the sales fee, appraisal fee, real estate agent ...
Individual paying a rental fee to the lessor for the right to use real property. The two methods used to account for leases by the lessee are the capital lease and the operating lease. ...
(1) Price a buyer is willing to pay, or bid, for a certain piece of property. It is the highest price offered to buy the property. (2) Price per share that shareholders receive when they ...
Intent to deceive or never to carry out the provisions of an agreement. ...
Something that is hidden or overlooked and may be realized at a later time. For example, an individual's name is improperly spelled on a title deed, and the oversight is not noticed until ...
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