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
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty. ...
Stated rate of interest on the face amount of a loan or installment note. ...
Provision in a written agreement that depends on the occurrence of something else. ...
To default on a loan means to intentionally or unintentionally miss several consecutive monthly payments over the course of a few weeks or months. Most borrowers learn the definition of ...
An early term used to describe all types of real estate property, improvements to the land, and all rights accruing to the land. ...
Fee paid only if other criteria are met. ...
Same as term soil porosity: Extent to which soil has cavities or pores, thereby allowing water to pass through. ...
Statutes stipulating that the property of deceased individuals is distributed in a way that assumes that property during marriage is jointly owned and equally shared by the spouses ...
A judicial ruling in which the rights and claims of the parties have been considered. A final ruling on some aspect formed after all the facts have been taken into account. In Real ...
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:
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