Local governmental ordinance breaking down the country into districts that are restricted on how private property is to be constructed and used. It applies to the land and buildings. The particular community's needs are taken into account. Zoning helps in maintaining or increasing property values. Zoning may by divided into residential, commercial, industrial, and agricultural. Each of these may be subdivided further. For example, residential may be segregated into single family homes, two-family homes, apartment buildings, and so on. Zoning may also make a district an historical one because of its importance in federal or local history. Zoning typically imposes height limitations on structures to protect other property owners. There are also restrictions on how many structures may be constructed in a particular geographic area. Zoning requirements may also exist as to parking and open space. Restrictions may also be placed on pollution and noise.
Popular Real Estate Terms
Legal rule, principle, or tenet. ...
Word, or group of words, that identifies a business or one of its products. The name is registered with U.S. Patent Office and provides legal protection for an indefinite number of renewals ...
Pitched roof that looks like a saw. ...
Federal program in which the U.S. government subsidizes much of the rent paid by low-income people. It applies to rentals of privately owned apartments. ...
Deterioration in property resulting from its ordinary use and from the aging process. An examples an apartment building that physically deteriorates over the years. ...
An income feature added to a mortgage whereby the mortgagee earns income in addition to the mortgage interest and principal payments. Also called an equity kicker, a kicker allows the ...
State laws limiting the interest rate that can be charged to individuals borrowing money in that state. These laws affect all lenders in a state regardless of what federal or state agency ...
Insurance coverage provided for an individual having a lease at a favorable rate, one which is less than the market value of the property. The insurance indemnifies the tenant for business ...
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer ...
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