Transfer Development Rights


Definition of "Transfer development rights"

Wayne Brazier real estate agent
Wayne Brazier, Real Estate Agent Freedom Real Estate Group

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.

 

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