Glossary of Limitations on the Use of Real Estate
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- Government land use controls are imposed under the _______ ________ of the state for the protection of the public.
- Police Power
- an "ad valorem" tax based on the assessed value of the property
- Real Estate Taxes
- the right of govt (and govt franchises such as rr and public utilities) to take privately owned real estate for public use or benefit for just compensation
- Eminent Domain
- When the owner dies intestate(or cannot be found) and there are no known heirs, the property ________ to the state.
- A comprehensive, long-range govt plan to regulate the use and development of land in an orderly fashion
- Municipal Plan (Master Plan)
- The obj of a _____ ______ is a well balanced community growth
- Municipal Plan (master Plan)
- the ______ _______ considers the needs of the population for economic develompent, public facilities, traffic, conservation, environment, etc.
- Municipal Plan (master Plan)
- Govt regulation of uses of property within designated areas.
- ______ regulates and affects such tings as use ofhte land, lot sizes, types of structures permitted, bldg heights, setbacks, and density.
- the ratio of land area to improvemnt area
- Where there is conflict btw zoning and private restrictions, the most _______ must be followed.
- Name the 4 zoning classifications
- 1 residental (r)
2 commercial (c)
3 industrial or Manufacturing (I or M)
4 Agricultural (A)
- controls density based on zoning through restrictions on setbacks, bldg hgt, open spaces, etc.
- bulk zoning
- Bldgs must have the same architectural style
- aesthetic zoning
- street flr of office bldgs must have retail shops
- incentive zoning
- encourages highest and best use
- directive zoning
- going from an active use to a less active use
- down zoning
- a tract of land zoned different from surrounding land
- spot zoning
- a use that was lawfully established at the time of its original construction but no longer conforms to the current zoning law.
- Non conforming use
- The non conforming zoning might pertain to ____ (4 things).
use of the land
use of the structure
- permission from govt zoning authorities that allows the landowner to deviate from the current zoning ordinance.
- T or F a variance does not change the zoning ordiance.
- T or F new construction must comply with the zoning ordinance or if it doesn't obtain a variance
- a use that requires a special permit
- conditional use
- govt regulation of subdividers. Controls the streets, sidewalkds, lots, curbs, utlities, street lights, sotrm sewers, etc.
- subdivision regulations
- _______ subdivide land into lots
- sets minimum standards for materials and construction that developers must comply with.
- Bldg Codes
- T or F Developers build improvements on the land
- T or F easement are binding on new owners of the servient estate
- T or F leases are binding on new owners
- T or F deeds of trust are binding on new owners
- reasonable ____ ______ imposed by grantor and agreed to by the buyer, are binding on the buyer and all subsequent owners.
- deed restrictions
- restrictions filed by the subdivider are binding on all residents of the subdivision and may be enforced by any resident of the subdivisino through the courts
- subdivision restriction
- When zoning ordinances, deed restrictions, or subdivision restrictions conflict, the more __________ prevails
- the legal doctrine which states that a delay in asserting one's legal rights could cause forfeiture of these rights
- a charge or claim that a creditior has on the property of a debtor.
- another name for a creditor
- another name for a lienee
- a ______ arises from a debt adn can be created by agreement of the parties or by operation of law.
- liens agaainst a specific property. A specific lien is created when the debt is created
- specific lien
- in a specific lien is the debt secured?
- a lien on real property established by law at the beginning of each tax year.
- property tax lien
- a govt lien on property established when municpal improvements are made to private property. (Sewers, sidewalks)
- special assessment lien
- a lien on real property established by a person providing labor or materials on property
- mechanic lien
- a lien on real property established when the owner pledges the property as collateral on a loan
- mortgage lien
- a lien against all the debtor's real and personal property.
- General lien (generality)
- a ______ lien is created by law or court action when the debt is not repaid as required in the loan agreemnt.
- general lien (generality)
- is a general lien a secured or unsecured debt?
- unsecured debt
- created when income taxes are not paid when due
- federal & state tax lien
- a lien created by court action brought by a creditor when a debt is not paid
- judgement lien
- _____ ______'s encumber only the debtor's property located in the county where the lien is obtained.
- judgement lien
- Can a judgement lien be extended to cover property in outher counties?
- What needs to happen in order for a judgement lien to be extended to other counties?
- filing the lien in each county
- a recorded legal document that gives constructive notice that a court action has been filed against a particular property and is pending.
- lis pendens
- a Lis Pendens results in the property being rendered ________ during the litigation and cannot be freely ____ or _______.
- unmarketable, sold, encumbered
- the legal process of seizing the real or personal property of a defendant, and holding it in court custody as sectuirty for statisfaction of a judgement.
- writ of attachment (attachment)
- a court order authorizing the sheriff to sell real or personal property on the courthouse steps to statisfy a judgement. The sheriff may only sell property sufficient to statisfy the lien.
- writ of execution
- Priority of Liens: 1,2 & 3
- 1. Govt liens are first.
2. Mechanic's lien priority is set by the date the work or materials were provided to the property.
3. Morgage lien and judgment lien priority is set by the recording date.
- T or F Liens expire if not enforced
- T or F liens must be paid in full or transfer before closing can occur
- legal descriptions are required on certain legal documents such as _____(7things)____
deeds of trust
- A legal description is one that is.....
- ....legally sufficient to locate and identify a particular parcel or land.
- recites directions and distrances from point to point around the outer boundaires and must close at the point of beginning.
- metes and bounds description
- shows lot number, block, subdivision name, plat book and page number, county, and state
- platted subdivision description
- Example of what description?: Lot 175 of Block M of San Louis Subdivision, according to the plat thereof recorded in Plat book 48, page 74 of the clay county Missouri records
- Platted subdivision description
- example of what type of description?: Commencing at the NW corner of highway K and Highway N in Lacy County, Missouri; thence North along the West line of Highway K 275' to an iron pipe; thence West 200' to a 6" oak tree;....
- Metes and bounds description
- a govt survey that uses bench marks located by its longitude and latitude
- geodetic survey
- a govt survey that uses principal meridians and base lines. Shows fractions of a section, section number, township, range and principal meridian
- rectangular survey description
- Section of Land 1mile x 1 mile is how many acres?
- 640 acres
- a section of land 36 sections of land 6 miles x 6 miles
- a township
- how many acres is 36 sections of land 6 miles x 6 miles
- 23,040 acres
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