Nonconforming Use
property use which is in violation of the current zoning ordinance, but had been in use prior to the zoning ordinance's enactment. A nonconforming use is normally allowed to continue; however, there are certain limitations that are placed on its continuance. A nonconforming use is normally not allowed to expand beyond its current boundaries and if it is a nonconforming building, the building may not be rebuilt, in the event of its destruction, without conforming to the current zoning ordinance.
Popular Real Estate Terms
Evaluating a locality to determine its value and appropriateness for designated objectives. ...
Income for investors arising from net long-term profits of a real estate mutual fund realized when the portfolio is sold at a gain. Fund managers pass on profits from sales of real estate ...
(1) Any asset purchased for use in production over long periods of time rather than for resale. It includes land, buildings, plant, and timber reserves. (2) In taxation, property held by a ...
Recording an expenditure having a benefit of more than one year to the cost of the property. ...
Legally proper instrument under seal that transfers title to real property from the seller to buyer. ...
A floor where the binding joists support the common joists above and the ceiling below. ...
Bond whose interest is free of federal, state, or local tax in the state of the issuer. It is typically a municipal bond of estate or county agency. For example, a New York City resident ...
A court order on an issue directly related to the immediate action. ...
An upper limit on the interest rate that can be charged in a variable rate mortgage over its life. For example, a variable rate loan is initially offered at 7% loan rate, and its interest ...
Have a question or comment?
We're here to help.