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
The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the ...
(1) The interest rate used to convert future receipts or payments in connection with real estate property to their present value. The cost of capital is used as the discount rate under the ...
Organization that manages the relocation of the employees of client companies from one area of the country to another. A relocation service will manage home sales and purchases in another ...
The difference between the present value of cash inflows generated by real estate and the amount of the initial investment. The present value of future cash flows is computed using the cost ...
Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgages conditions and terms. Causes the discharge of a mortgagees estate interest in a property. ...
You’ve put your home on the market and are receiving offers. The next logical step is to sell your house to the buyer who offers you the highest amount of money and start the closing ...
market in which there are comparatively few bids to buy or offers to sell real estate. The term relates to a single investment or to a particular investment market, such as the real estate ...
Accumulation of housing units deemed substitutable by homogeneous households, such as those having comparable attractiveness and usefulness. ...
Upgrading made by a lessee to leased property. Examples are paneling and wallpapering. These improvements revert to the lessor at the expiration of the lease term. As improvement costs are ...
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