Chapter 3 Mastering Real Estate

Question 1

What are the four government powers?

Answer 1

Police power
Eminent Domain
Taxation
Escheat

Question 2

What police powers does the government have?

Answer 2

Enforce zoning laws, building codes, environmental laws, land development, interstate land sales

Question 3

Define buffer zone.

Answer 3

A strip of land that separates one land use from another.

Question 4

What is non-conforming use?

Answer 4

If a property existed prior to current zoning rules, it can be grandfathered in.

Question 5

What is density?

Answer 5

The number of units the building my include or the number of buildings on a tract of land.

Question 6

Define downzoning.

Answer 6

A zone is changed from a higher-density use to lower density use.

Question 7

What is spot zoning?

Answer 7

A specific property within a zoned area is rezoned to permit a different use.

Question 8

How can zoning laws be changed?

Answer 8

By amendments.

Question 9

What is a variance?

Answer 9

An exception to a zoning law.

Question 10

What are conditional use or special-use permits?

Answer 10

A permit that allows special land use that is inconsistent with zoning laws in the area.

Question 11

What are building codes?

Answer 11

Enacted to protect public health and safety.

Question 12

What is a building permit?

Answer 12

Permission to build or alter a structure

Question 13

What is a certificate of occupancy?

Answer 13

You need to it legally occupy a building.

Question 14

What is a subdivision plan?

Answer 14

A plat that is divided into plots of land.

Question 15

What is clustering?

Answer 15

Putting housing units on slightly smaller lots to increase open/recreational space in a development.

Question 16

Define eminent domain.

Answer 16

The government may take title to privately held lands for public use without the owner’s consent, but the owners must be fairly compensated.

Question 17

Define condemnation.

Answer 17

The process of actually taking title to a property by eminent domain.

Question 18

What are the three requirements for condemnation?

Answer 18

It must be for public good.
The owner is entitled to fair compensation.
The rights of the property owner must be protected by due process of law.

Question 19

What is inverse condemnation?

Answer 19

Forcing the state to buy an owner’s property if government action has forced loss of value or inability to use the property.

Question 20

Define escheat.

Answer 20

The government power to acquire land from owners who die without a will and leave no heirs.

Question 21

What is encapsulation?

Answer 21

The sealing off of disintegrating asbestos.

Question 22

Before what year were a lot of homes built with lead-based paint? What act pertains to lead as a hazard?

Answer 22

1978- Residential Lead-Based Paint Hazard reduction Act of 1992

Question 23

How low should radon levels be?

Answer 23

Below 4.0 pCi/L (pico curies per liter)

Question 24

What act requires the government to establish and maintain air quality standards?

Answer 24

The Clean Air Act (1967, 1990)

Question 25

What act promotes efforts to reduce damage to th environment?

Answer 25

The National Environmental Policy Act, 1969

Question 26

What agency is responsible for administering and enforcing environmental laws?

Answer 26

The EPA

Question 27

What act restored and maintain the quality of the country’s waters?

Answer 27

The Clean Water Act, 1972

Question 28

What act regulates coastal areas?

Answer 28

The Coastal Zone Management Act, 1972

Question 29

Which act defines hazardous materials and regulated their transportation, storage, use, treatment, disposal, and clean up?

Answer 29

The Resources Conservation and Recovery Act, 1976

Question 30

What act tries to correct the environmental problems caused by abandoned hazardous waste sights?

Answer 30

The Comprehensive Environmental Response, Compensation, and Liability Act, 1980 (CERCLA)

Question 31

Related to CERCLA, what act defines clean-up standards for these waste sites?

Answer 31

The Superfund Amendments and Reauthorization Act (SARA), 1986;
This act established innocent landowner immunity (owners not liable)

Question 32

What is a brownfield and Brownfields legislation, 2002?

Answer 32

Brownfields are old industrial sites that may contain toxic waste. The legislation gives funding to clean these up and shields innocent developers.

Question 33

What is an environmental site assessment?

Answer 33

It reveals any environmental concerns that would affect the value of the property.