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
Timber in an original form, such as a pole. ...
Member of a partnership whose liability for partnership debts is limited to the amount invested in the partnership. A limited partner is prohibited from taking active part in the management ...
Estimated value of property after a specified time period. ...
Measure of land representing one square mile. A section equals 640 acres. ...
mortgage being reduced through periodic principal and interest payments. ...
The portion of property income due to the ground value itself. It is used in a few states whereby an individual can own a structure and rent the ground to occupy a plot of land. ...
In an everyday scenario, a meeting of the minds implies fully agreeing with another person. What does meeting of the minds mean in real estate? Picture you want to buy or sell a property. ...
Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...
See historic structure. ...
Have a question or comment?
We're here to help.