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
Urbanized area in and around a major city. The metropolitan area may overlap county and state boundaries and may encompass a city, its suburbs, and the orbit of its social and economic ...
Same as term resale proceeds: Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. ...
An individual's option to fairly utilize another's property. An example is privileges under an easement. For example, a person receives permission to use a lake on the private property of ...
The term “de jure” comes from the Latin “by law” or “by right” and is commonly used to describe something that exists according to the law or by right. ...
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A lien on property such as for the nonpayment of real estate taxes or mechanic's lien for repairs to the home without the consent of the owner, created by operation of law. ...
One who has committed a tort. A tort is a civil wrong that occurs as a result of a breach of legal duty owed to someone, e.g., negligence. A tort does not arise from a breach of contract. ...
Designing a home with a Spanish cultural flavor. ...
Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...
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?
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