Level 2 Land use controls and Regulations Flashcards
a tax calculated according to the assessed value of a piece of real estate
ad valorem taxes
involuntary transfer of title from an owner who does not use or inspect their land for a number of years to another person who has some claim to the land and takes possession
adverse possession
the transfer of ownership (title) to real property
alienation
rights that run with real property ownership; most often transferred with the property, but possible to sell separately
appurtenances
the determination of the market value of a property
assessment
a set of regulations pertaining to building design, materials, safety, sanitation, and structure
building code
legal document from a local authority that authorizes a
building to be occupied; issued after the building has passed all required inspections
certificate of occupancy
CO
any claim to or encumbrance on the title to a property which affects transferability
cloud
a policy utilized in land use controls which requires developers to identify and mitigate the negative impacts of a development proactively during construction
concurrency
private restrictions established for condominium tenants to keep the property uniform and attractive
covenants, conditions, and restrictions (CCRs)
a provision in a deed that restricts the land use of a property
deed restriction
the measure of the proportion of a given area used for
residential purposes
density
the parcel of land that benefits from an easement appurtenant by having the right to cross another owner’s adjacent land
dominant tenement
an interest in, or a right to use, another individual’s land or property, generally for a specific, limited purpose
easement
easement in which private property is taken for public use via eminent domain; declaration that a structure must be closed or demolished because it is unfit for occupants
easement by
condemnation
an easement that applies to the person or entity, not the specific land
easement in gross
the power of government to seize private property for public use; government must pay property owner just compensation for exercising power
eminent domain
physical property that crosses the boundary into a neighboring landowner’s property
encroachment
non-possessory interest in a property that burdens the title
encumbrance
the legal doctrine by which the decedent’s property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs
escheat
a lien for which the real estate AND personal property may be sold to satisfy the debt
general lien
transfer of title to property without the owner’s consent, usually carried out by operation of law
involuntary alienation
the decision rendered by a court as a consequence of a lawsuit
judgment
a lien that has another (senior) lien superseding it in priority; also called an inferior lien
junior lien
a piece of land which is not accessible by any public means
landlocked
regulations that specify how the owners of individual parcels of real estate in a given area may use property
land-use control
a set of laws that sets out the process of passing an estate to heirs when the owner dies intestate
Laws of descent and
distribution
the claim made by a creditor against real or personal property pledged by a debtor as collateral
lien
the order in which liens against a property will be settled
lien priority
a document recording at the courthouse giving notice that a lawsuit is pending on a particular piece of property
lis pendens
a type of involuntary, specific lien that a mechanic or
materialman can impose upon a property if the property owner fails to pay for materials or work done on the property
mechanic’s lien
an expression of a tax rate in 1/1000ths of a dollar; “dollars per thousand dollars of value”
mill
the rate at which ad valorem taxes are assessed, calculated by dividing the revenue to be collected by the total tax base
millage rate
a legal agreement between a creditor and borrower in which the creditor lends money with interest to the borrower for the purchase of property with the condition that the creditor takes ownership of the title if the borrower defaults in repayment of the loan
mortgage
any property use which is inconsistent with the land use controls for that area, regardless of legality
nonconforming use
a wall shared by two separate properties; the owners on eachvside share the right of use, often as an easement
party wall
a process by which courts determine and grant the appropriate ownership interest of an estate to creditors, taxing entities, and heirs of an owner who dies intestate
probate
a lawsuit brought with the purpose of removing any
outstanding ownership claim, title defect, or encumbrance on a property
quiet title suit
a lien that comes first on the priority of liens, often a tax lien; also called a superior lien
senior lien
describes the parcel of land that must allow an adjacent owner to cross; an easement appurtenant exists at the expense of this party
servient tenement
a lien placed against property to collect taxes for a specific improvement benefiting the property
special assessment lien
a lien that applies to a certain property only
specific lien
a contract that gives a mortgage recorded at a later date priority over a previously recorded mortgage
subordination agreement
an area in which a taxing entity is authorized by the
government to levy taxes
tax district
the percentage of the value that is taxed
tax Rate
permission granted by the government so that property may be used in a manner not allowed by the current zoning
variance
local laws that control how land is used and what structures can be built in a designated district
zoning ordinance
