Unit 18: Land-Use Controls

appreciation

The increase in the value of a property over time, often driven by market demand, improvements, or changes in the economic environment.

buffer zone

A designated area separating potentially incompatible land uses, often used to minimize conflicts and protect natural resources.

building code

A set of regulations governing the design, construction, and occupancy of buildings to ensure safety and health standards.

capital gain

The profit made from the sale of a property when its selling price exceeds the original purchase price.

certificate of occupancy

A document issued by a local authority confirming that a building complies with building codes and is safe for occupancy.

comprehensive plan

A long-term planning document that outlines a community's goals for land use, housing, transportation, and other aspects of development.

conditional-use permit

A legal document that allows a property to be used in a way that deviates from zoning regulations under specific conditions set by the local government.

covenants, conditions, and restrictions (CC&Rs)

Rules attached to property ownership that govern the use and appearance of a property, often imposed by developers or homeowners' associations.

deed restrictions

Limitations placed on property use imposed by a seller or developer to maintain a certain character or standard.

depreciation

The reduction in the value of a property over time, typically due to wear and tear or market conditions.

density zoning

A regulatory measure that limits the number of residential units that can be built on a given area of land. This is often used to control urban sprawl and maintain community character.

developer

A person or company that invests in and oversees the construction and renovation of real estate projects, often responsible for obtaining financing and navigating regulatory approvals.

enabling acts

Legislation that grants local governments the authority to create zoning laws and land-use regulations.

equity buildup

The increase in ownership interest in a property as the mortgage principal is paid down and property value appreciates, allowing homeowners to gain financial leverage.

exchanges

The process of swapping real estate properties between two parties, often used to defer capital gains taxes under Section 1031 of the Internal Revenue Code.

Interstate Land Sales Full Disclosure Act (ILSA)

A federal law requiring developers of certain subdivisions to provide prospective buyers with detailed information about the property, aimed at protecting consumers from fraud.

leverage

The use of borrowed funds to increase the potential return on investment in real estate, allowing investors to control larger properties with less capital.

liquidity

The ease with which an asset, such as real estate, can be converted into cash without significantly affecting its value. High liquidity indicates that properties can be sold quickly.

nonconforming use

A property use that deviates from current zoning regulations but is allowed to continue, often due to the use being established before the zoning change occurred.

planned unit development (PUD)

A type of development that integrates residential, commercial, and recreational spaces into a single planned community, allowing for flexible zoning and a mix of land uses.

plat map

A detailed drawing or diagram that illustrates how a piece of land is subdivided into lots, showing boundaries, streets, and easements, often used in the planning and development process.

restrictive covenants

Legal obligations imposed on property owners to limit certain uses or behaviors within a property or neighborhood, ensuring a uniform appearance and standard.

subdivider

A person or entity that divides a large parcel of land into smaller lots for sale or development, often aimed at creating residential or commercial properties.

sudivision

A subdivision is a parcel of land that has been divided into smaller lots for the purpose of development or sale, typically regulated by local zoning laws.

variance

An exception to zoning regulations that allows a property owner to use their land in a way that is normally not permitted by the existing zoning code.

zoning ordinances

Rules established by local governments that dictate land use and development standards within a specific area.