J- Environmental Social And Economic Issues

Question 0

Used to fund public space improvements with the intention that it will enhance and areas appeal

Answer 0

Business improvement District

Question 1

Valuation of property for the purpose of taxes

Answer 1

Assessment

Question 2

Method cities use to issue bonds
For civic improvement
During redevelopment taxes are on preapproved value
After taxes increase due to improvements

Answer 2

Tax increment financing

Question 3

Bond for civic projects through property tax

Answer 3

General obligation bonds

Question 4

Used to fund infrastructure needed to support new developments, paid for by developers

Answer 4

Developer impact fee

Question 5

Place limitations on the use of the property, typically by original developers, and can’t be changed my future owners

Answer 5

Deed restrictions

Question 6

Limitations used in residential settings

Answer 6

Restrictive covenant

Question 7

Commits a buyer to performing duties in the future

Answer 7

Affirmative covenant

Question 8

If restriction is violated or disregarded, The land will revert back to original owners

Answer 8

Conditional covenant

Question 9

Assessment approach to value properties using reliable financial data for recent sales of similar properties in a given market

Answer 9

Income approach

Question 10

Used to determine the value of a property based on similar sales

Answer 10

Market approach

Question 11

Used to determine the value of the property
By estimating the land value
And the depreciated value of any improvements

Answer 11

Cost approach

Question 12

Each tenant has a share in the whole development which passes to survivors after death

Answer 12

Joint tenancy

Question 13

A business built on the shares of a few, after death of one may be dissolved in assets are distributed to remaining

Answer 13

Partnership

Question 14

A business independent of shareholders

Answer 14

Corporation

Question 15

A person or company who holds property or Authority for the benefit of another

Answer 15

Trusty

Question 16

Most common form of real estate title in which the owner can do whatever they want with their property

Answer 16

Fee simple

Fee absolute

Question 17

Sole ownership of property, and shared ownership of common elements

Answer 17

Condo

Question 18

Ownership of the number of shares of stock of the corporation that owns land

Answer 18

Co-op

Question 19

Owner sells property and the leases it back long term at a fixed rate, in order to raise money by offloading a property to someone who wants to make a long-term investment. Typically done for tax purposes.

Answer 19

Sale and lease back

Question 20

Used by a developer to purchase land that they intend to subdivide and resell. When it sold the lot is released from the loan, and debt is repaid as part of the selling price

Answer 20

Blanket loan

Question 21

Quickly granted and used to close on the property and start construction what waiting for the official long term loan to be approved

Answer 21

Bridge loan

Question 22

Used by developer to pay a variable amount of interest during project development

Answer 22

Mezzanine loan