6.5 Flashcards
_____ regulations can prescribe a type of building, location of utility lines, restrictions on accessory buildings or structures, and preservation of historical areas and buildings.
Zoning
The ______ is the land survey that will provide a direction for planning future uses of land, such as improved roadways, housing needs, new parks and green space.
Comprehensive Development Master Plan (CDMP)
The 5 land use classifications are residential, commercial industrial, agricultural, and ________.
Mixed
If there is an administrative exception to land use regulations, a ______ will be granted.
Variance
A/an _________ is the act or process of revising an entire zone.
Amendment
Land that lawfully existed before enactment of a zoning law, but no longer complies with use restrictions of the new ordinace is called _______ use.
Non-conforming
A _______ zone is a generic term that means an area of land that separates two drastically different land use zones.
Buffer
The ______ enforces the Fair Credit Reporting Act (FCRA).
Federal Trade Commission
________ is the term for a refusal to offer loans to certain areas of a city.
Redlining
The Good Faith Estimate (GFE) must be given within _______ business days from loan application.
3
True of False:
RESPA rules cover most loans, assumptions, refinances, property improvement loans, and equity lines of credit.
True
True of False:
RESPA requires disclosures to be given to borrowers at the time of the loan application, and before and at the time of closing.
True
True or False:
The terms “settlement” and “closing” can be used interchangeably.
True
The mortgagor is the ___________.
Property owner
When a single person owns real estate, it is called _________.
Tenancy in Severalty
