Chapters 6-10 Flashcards
A comprehensive plan, also known as a master plan
helps localities establish and enforce rules that dictate how development occurs. The plan establishes a framework for the legal resolution – a document that regulates the use of real property by defining certain limits on land use. Covers things such as occupancy limits, parking structures, suburban and rural residential districts and both commercial and private land use.
Building Envelope
the maximum three-dimensional space on a zoning lot within which a structure can be built, as permitted by applicable height, setback and yard controls.
Floor Area Ratio (FAR)
the principal bulk regulation controlling the size of buildings. FAR is the ratio of total building floor area to the area of the zoning lot. Each zoning district has a FAR control which, when multiplied by the lot area of the zoning lot, produces the maximum amount of floor area allowable in a building on the zoning lot.
Lot Area
The area (in square feet) of a zoning lot
Lot Coverage
That portion of a zoning lot which, when viewed from above, is covered by a building.
Variance
The authorization to improve or develop a particular property in a manner not authorized by zoning.
Yard Setbacks
A required open area along the property lines of a zoning lot, which must be unobstructed from the lowest level to the sky. Yard setbacks ensure light and air between buildings.
Zoning
The separation or division of a city or town into districts, the regulation of buildings and structures in such districts in accordance with their construction and the nature and extent of their use, and the dedication of such districts to particular uses designated to serve the general welfare.
Zoning District
A mapped residential, commercial, or manufacturing district with similar use, bulk and density regulations.
Zoning Maps
Maps that indicate the location and boundaries of zoning districts within a municipality.
Zoning Ordinance
A statement setting forth the type of use permitted under each zoning classification and specific requirements for compliance. They commonly regulate what uses are allowed on a particular property, the minimum and maximum size of a property, how densely a property can be developed, and the maximum building size that can be built on a property
Subdivision Regulations
The control of the division of a tract of land into individual lots by requiring development according to specific standards and procedures adopted by local ordinances.
Building Code
A systematic regulation of construction of buildings within a municipality established by ordinance or law.
Certificate of Occupancy
A document issued by a local government agency after satisfactory inspection of a structure authorizing that the structure can be occupied.
Governmental Powers in Real Estate
“PETE” Police Power - Eminent Domain - Taxation - Escheat
Police Power
- the right of the United States government to make laws, and to enforce those laws, to ensure the order, safety, health, morals and general welfare of citizens of the United States.
Eminent Domain
the right the United States federal and state governments must take private land or private property for public use or economic development. When eminent domain powers are used, the property owner has the right to receive “just compensation” for the taking of their property.
Taxation
Any person, corporation or other organization that owns real estate must pay property taxes every year
Escheat
property that was publicly owned reverting to the state when there are no identifiable heirs capable of assuming ownership of the property. If a property owner dies and did not leave a valid will or named beneficiaries, that property owner did not have any identifiable heirs under state law, the property would escheat to the state.
Freehold estate
refers to the right to own land, or an interest derived from land, with no fixed time period associated with the ownership
Condemnation
The act of taking private property for public use by a political subdivision upon payment to owner of just compensation.
Fee Simple Absolute
An inheritable estate in land providing the greatest interest of any form of title.
Fee Simple Determinable
An estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor.
Fee Simple Estate
The greatest interest that one can have in real property. An estate that is unqualified, of indefinite duration, freely transferable and inheritable
Life Estate
An estate or interest in real property, which is held for the duration of the life of some certain person. It may be limited by the life of the person holding it or by the life of some other person.