Transfer Development Rights

Definition of "Transfer development rights"

Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their properties in other areas at higher densities than existed previously. The owners of restricted-development properties get these rights as compensatory consideration for the building constraints on their lands. They may sell these rights to any landowner in other areas who is not restricted regarding development densities.

Comments for Transfer Development Rights

  MINERAL RIGHTS, Including SPACE RIGHTS MINERAL RIGHTS, Including SPACE RIGHTS said:

I own several properties & wells in Pecos, TX, REEVES Co., West Texas. I inherited several wells purchasing homes, including mineral rights. Now, come to find out about in addition to Surface Rights & Mineral Rights, there I come to hear about Space Rights!! Please share all U know or where to seek additional info and a great place to seek legal assistance for many questions I have about production as of AUGUST 2018-Current?

Jan 23, 2024  00:17:21

 
Real Estate Agent

Hello! Thank you for contacting us!

Air rights in the United States refer to the space above a piece of land that the landowner can control and use. Imagine you have a piece of land. Just like you own the dirt, grass, and minerals beneath, you also own the space above it, up to a certain point. You can use this space to build things, like tall buildings. Here are the rules on how air rights work: 

The government has laws about how high you can build.

Planes can fly over your land because they are high up.

Sometimes, you can sell your air space to someone else who wants to build something.

To get more information and legal advice about air rights in the US, you can follow these steps:

  1. Contact a real estate attorney! Look for a lawyer specializing in real estate law. 
  2. Your city or county planning department can provide information on local regulations and laws about air rights.
  3. Visit a law library or use an online legal database to research air rights laws in your state and any relevant court cases.
  4. Title companies can help you understand the details of your property title, including any existing air rights provisions.

 

Jan 23, 2024  05:02:51
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The legal right of a widow to a portion of her deceased husbands real property. ...

Financing source for new real estate business or turnaround ventures that usually combine much risk with potential for high return. There are various stages of venture capital, such as ...

Rule within the Internal Revenue Code applicable to capital gains from selling real estate that has been depreciated for tax purposes. Most buildings must be depreciated using the ...

Provision at the end of a document, such as a will, wherein the witnesses sign that the instrument has been executed before them. This may be useful involving transfers of real estate. ...

The definition of an absentee owner is a property owner who does not reside on the property. An absentee can be an individual or a corporation with legal ownership over a property ...

The Federal Reserve Bank's regulation applying to the amount of credit that may be advanced by brokers and dealers to customers to buy securities. ...

Provision in an agreement in which its renewal is a matter of course at the end of its initial term. ...

Among other things. Inter alia is an ancient method of referring to statutes without reciting all of their provisions. ...

Deterioration in property resulting from its ordinary use and from the aging process. An examples an apartment building that physically deteriorates over the years. ...

Popular Real Estate Questions