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.
Popular Real Estate Terms
Real estate not subject to property tax such as that owned by nonprofit entities including charitable, governmental, religious institutions. ...
Aerial navigation that may interfere with a property owner, such as creating undue noise. The value of land near an airport may decline in value for this reason. Further airport congestion ...
The definition of option explains the term as something that can be chosen in spite of having multiple other alternatives. It could be an option for food, which shows a preference for one ...
Structure that has the same blue print and design as all the other homes in a given development; the opposite of custom built. ...
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
The appraisal approach is used to estimate the value of an asset, based on various factors to reach the closest educated guess of the asset. While an appraisal approach does consider the ...
Same as term access right: The right of a property owner to freely go to and return from an adjoining highway without interference." rollover;"Same as term: Tax-free exchange that allows ...
Map delineating property values over a designated area. Land value maps are usually developed by a governmental planning agency. ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
Comments for Transfer Development Rights
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 00:17:21Hello! 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:
Jan 23, 2024 05:02:51Have a question or comment?
We're here to help.