CHAPTER 5 & 6 Flashcards

(148 cards)

1
Q

IN NORTH CAROLINA, THE STATUTORY PERIOD FOR ADVERSE POSSESSION (WITHOUT COLOR OF TITLE) IS AN UNINTERRUPTED PERIOD OF HOW MANY YEARS WHEN TRYING TO ACQUIRE PRIVATELY OWNED PROPERTY

A

20 YEARS

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2
Q

TITLE TO REAL ESTATE MAY BE TRANSFERRED DURING A PERSON’S LIFETIME BY

A

ALIENATION

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3
Q

WHAT TYPE OF DEED MIGHT AN OWNER OF REAL ESTATE USE TO VOLUNTARILY TRANSFER A RIGHT, A TITLE, OR AN INTEREST IN REAL ESTATE

A

WARRANTY DEED

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4
Q

A MAN OWNED PROPERTY AS A TENANT IN COMMON WITH HIS TWO BEST FRIENDS. YEARS LATER, THE MAN WAS ADJUDGED LEGALLY INCOMPETENT AND MOVED INTO A NURSING HOME. DURING HIS STAY AT A NURSING HOME, THE MAN WROTE A WILL LEAVING HIS ENTIRE ESTATE TO THE NURSING ASSISTANT ASSIGNED TO HIS CARE. THE MAN WAS SURVIVED BY THREE CHILDREN WHEN HE DIED. AFTER HIS DEATH, HIS REAL ESTATE INTERESTS PASSES TO

A

HIS CHILDREN BY THE LAW OF INTESTATE SUCCESSION

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5
Q

TRUE OR FALSE; A WILL IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION

A

FALSE

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6
Q

TRUE OR FALSE; FORECLOSURE IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION

A

TRUE

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7
Q

TRUE OR FALSE; ESCHEAT IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION

A

TRUE

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8
Q

TRUE OR FALSE; EMINENT DOMAIN IS A MEANS OF TITLE TRANSFER BY INVOLUNTARY ALIENATION

A

TRUE

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9
Q

WHEN THE GRANTOR ENSURES THAT THE TITLE WILL BE GOOD AGAINST THE TITLE CLAIMS OF THIRD PARTIES THIS DESCRIBES

A

THE COVENANT OF QUIET ENJOYMENT

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10
Q

A PURCHASER WENT TO THE REGISTRY OF DEEDS TO CHECK THE PUBLIC RECORDS. SHE FOUND THAT THE SELLER WAS THE GRANTEE IN THE LAST RECORDED DEED AND THAT NO MORTGAGE WAS EVER ON RECORD AGAINST THE PROPERTY. THEREFORE, THE PURCHASER MAY ASSUME WHAT

A

THE SELLER PROBABLY DID NOT MORTGAGE THE PROPERTY

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11
Q

TRUE OR FALSE; THE PERSON WHO EXAMINES THE CHAIN OF TITLE AND PREPARES AN OPINION OF TITLE FOR A PARCEL OF REAL ESTATE WRITES A BRIEF HISTORY OF THE RECORD OF OWNERSHIP OF THE PROPERTY

A

TRUE

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12
Q

TRUE OR FALSE; INSTRUMENTS AFFECTING REAL ESTATE ARE RECORDED IN THE PUBLIC RECORDS OF THE COUNTY WHERE THE PROPERTY IS LOCATED BECAUSE RECORDING GIVES CONSTRUCTIVE NOTICE TO THE WORLD OF THE RIGHTS AND INTERESTS IN A PARTICULAR PARCEL OF REAL ESTATE

A

TRUE

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13
Q

SUCCESSION OF CONVEYANCES FROM SOME STARTING POINT WHEREBY THE PRESENT OWNER DERIVES TITLE

A

CHAIN OF TITLE

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14
Q

TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS RIGHTS OF PARTIES IN POSSESSION

A

FALSE

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15
Q

TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS FORGED DOCUMENTS

A

TRUE

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16
Q

TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS INCORRECT MARITAL STATEMENTS

A

TRUE

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17
Q

TRUE OR FALSE; A TITLE INSURANCE POLICY WITH STANDARD COVERAGE GENERALLY COVERS INCOMPETENT GRANTORS

A

TRUE

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18
Q

THE PROCESS BY WHICH EMINENT DOMAIN IS EXERCISED

A

CONDEMNATION

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19
Q

STATE WHETHER A NECESSARY CONDITION OR NOT; PROPERTY IS TO BE GIVEN TO THE OWNER OF A QUASI-PUBLIC CORPORATION

A

NOT A NECESSARY CONDITION

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20
Q

STATE WHETHER A NECESSARY CONDITION OR NOT; USE BENEFITS THE PUBLIC

A

NECESSARY CONDITION

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21
Q

STATE WHETHER A NECESSARY CONDITION OR NOT; PROPERTY OWNER IS PROTECTED BY DUE PROCESS OF LAW

A

NECESSARY CONDITION

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22
Q

STATE WHETHER A NECESSARY CONDITION OR NOT; JUST COMPENSATION IS PAID TO THE PROPERTY OWNER

A

NECESSARY CONDITION

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23
Q

TRUE OR FALSE; MONTH-TO-MONTH LEASE IS A REAL ESTATE DOCUMENT THAT IS LEAST LIKELY TO BE RECORDED

A

TRUE

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24
Q

TRUE OR FALSE; A DEED IS A REAL ESTATE DOCUMENT THAT IS MOST LIKELY TO BE RECORDED

A

TRUE

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25
TRUE OR FALSE; OPTION CONTRACT IS A REAL ESTATE DOCUMENT THAT IS MOST LIKELY TO BE RECORDED
TRUE
26
TRUE OR FALSE; LAND CONTRACT IS A REAL DOCUMENT THAT IS MOST LIKELY TO BE RECORDED
TRUE
27
TRUE OR FALSE; EASEMENTS SHOULD BE DISCOVERABLE IN A SEARCH OF THE PUBLIC RECORDS
TRUE
28
IN NORTH CAROLINA, THE STATUTORY PERIOD OF POSSESSION REQUIRED TO ACQUIRE TITLE OF PRIVATELY OWNED PROPERTY BY ADVERSE POSSESSION WITH COLOR OF TITLE IS HOW MANY YEARS
7 YEARS
29
WHICH TYPE OF DEED MERELY IMPLIES BUT DOES NOT SPECIFICALLY WARRANT THAT THE GRANTOR HOLDS GOOD TITLE TO THE PROPERTY
BARGAIN AND SALE
30
THE NCBA/NCAR 2-T OFFER TO PURCHASE AND CONTRACT FORM INDICATES THAT THE SELLER WILL DELIVER WHICH DEED TO THE BUYER
GENERAL WARRANTY
31
WHEN PROPERTY IS SOLD FOR $75,000, THE EXCISE TAX WOULD BE
$150 SOLVED $75,000 SALES PRICE / 500 = 150 X $1 = $150
32
A SELLER SOLD HIS PROPERTY FOR $185,900 AND LET THE BUYER ASSUME HIS LOAN BALANCE OF $125,000. HOW MUCH EXCISE TAX WILL THE SELLER PAY AT CLOSING
20 SOLVED $185,900 SALES PRICE / 500 = 371.80 X $1 = $371.80; ROUND UP TO $372.00
33
A PROVISION IN A SUBDIVISION DECLARATION USED AS A MEANS OF FORCING THE GRANTEE TO LIVE UP TO THE TERMS UNDER WHICH THE GRANTEE HOLD TITLE TO THE LAND IS A
PROTECTIVE COVENANT
34
TRUE OF FALSE; TESTS COMMONLY APPLIED IN DETERMINING THE VALIDITY OF ZONING ORDINANCES REQUIRE THAT THE ORDINANCES CAUSES A LOSS OF PROPERTY VALUE FOR THE PUBLIC GOOD
FALSE
35
TRUE OF FALSE; TESTS COMMONLY APPLIED IN DETERMINING THE VALIDITY OF ZONING ORDINANCES REQUIRE THAT THE POWER BE EXERCISED IN A REASONABLE MANNER
TRUE
36
TRUE OF FALSE; TESTS COMMONLY APPLIED IN DETERMINING THE VALIDITY OF ZONING ORDINANCES REQUIRE THAT THE ORDINANCE BE FREE FROM DISCRIMINATION
TRUE
37
TRUE OF FALSE; TESTS COMMONLY APPLIED IN DETERMINING THE VALIDITY OF ZONING ORDINANCES REQUIRE THAT THE ORDINANCE APPLY TO ALL PROPERTY IN A SIMILAR MANNER
TRUE
38
TRUE OR FALSE; PUBLIC LAND-USE CONTROLS INCLUDE RESTRICTIVE COVENANTS
FALSE
39
TRUE OR FALSE; PUBLIC LAND-USE CONTROLS INCLUDE SUBDIVISION REGULATIONS
TRUE
40
TRUE OR FALSE; PUBLIC LAND-USE CONTROLS INCLUDE ENVIRONMENTAL PROTECTION LAWS
TRUE
41
TRUE OR FALSE; PUBLIC LAND-USE CONTROLS INCLUDE MASTER PLAN SPECIFICATIONS
TRUE
42
TRUE OR FALSE; ZONING POWERS ARE CONFERRED ON MUNICIPAL GOVERNMENTS BY STATES ENABLING ACTS
TRUE
43
TRUE OR FALSE; ZONING POWERS ARE CONFERRED ON MUNICIPAL GOVERNMENTS BY EMINENT DOMAIN
FALSE
44
ZONING LAWS ARE GENERALLY ENFORCED BY
NON-ISSUANCE OF BUILDING PERMITS TO PROPERTIES THAT DO NOT CONFORM TO ZONING
45
ZONING BOARDS OF ADJUSTMENT ARE ESTABLISHED TO HEAR COMPLAINTS ABOUT
THE EFFECTS OF A ZONING ORDINANCE
46
TRUE OR FALSE; ZONING ALLOWS REGULATION OF BUILDING OWNERSHIP
FALSE
47
TRUE OR FALSE; ZONING ALLOWS REGULATION OF NUMBER OF BUILDINGS
TRUE
48
TRUE OR FALSE; ZONING ALLOWS REGULATION OF SIZE OF BUILDINGS
TRUE
49
TRUE OR FALSE; ZONING ALLOWS REGULATION OF BUILDING OCCUPANCY
TRUE
50
TRUE OR FALSE; THE PURPOSE OF A BUILDING PERMIT IS TO PROVIDE EVIDENCE OF COMPLIANCE WITH MUNICIPAL BUILDING CODES
TRUE
51
TRUE OR FALSE; THE PURPOSE OF A BUILDING PERMIT IS TO MAINTAIN MUNICIPAL CONTROL OVER THE VOLUME OF BUILDING
FALSE
52
A LOCAL MAN OWNS A VACANT LOT IN A RESIDENTIAL NEIGHBORHOOD. HIS FRIENDS IN THE CITY GOVERNMENT MANAGE TO CHANGE THE ZONING ON HIS LOT TO COMMERCIAL, SO HE CAN INCREASE HIS PROFITS ON THE PROPERTY. THIS TYPE OF ZONING IS CALLED
SPOT ZONING
53
TRUE OR FALSE; THE GRANTOR OF A DEED MAY PLACE EFFECTIVE RESTRICTIONS ON THE USE OF THE LAND
TRUE
54
TRUE OR FALSE; THE GRANTOR OF A DEED MAY PLACE EFFECTIVE RESTRICTIONS ON THE RIGHT TO SELL THE LAND
FALSE
55
A NEW ZONING IS ENACTED. A BUILDING THAT IS PERMITTED TO CONTINUE IN ITS CURRENT USE EVEN THOUGH THAT USE DOES NOT CONFORM TO THE NEW ZONING IS AN EXAMPLE OF
A LEGAL NONCONFORMING USE
56
TO DETERMINE WHETHER A LOCATION CAN BE PUT TO FUTURE USE AS A RETAIL STORE, ONE WOULD EXAMINE THE
ZONING CODE
57
TRUE OF FALSE; A LIST OF DEED RESTRICTIONS PROBABLY WOULD INCLUDE ALLOWABLE EHNIC ORIGINS OF PURCHASERS
FALSE
58
TRUE OF FALSE; A LIST OF DEED RESTRICTIONS PROBABLY WOULD INCLUDE TYPES OF BUILDINGS THAT MAY BE CONSTRUCTED
TRUE
59
TRUE OF FALSE; A LIST OF DEED RESTRICTIONS PROBABLY WOULD INCLUDE ACTIVITIES THAT ARE NOT TO BE CONDUCTED AT THE SITE
TRUE
60
TRUE OF FALSE; A LIST OF DEED RESTRICTIONS PROBABLY WOULD INCLUDE MINIMUM SIZE BUILDINGS TO BE CONSTRUCTED
TRUE
61
DEED RESTRICTIONS MAY BE ENFORCED BY
COURT INJUNCTION
62
A HOMEOWNER WISHES TO INSTALL A HOT TUB IN HER BACKYARD. IT WILL BE USED TO TREAT A MEDICAL CONDITION. IN ORDER TO PREVENT NEIGHBORHOOD CHILDREN FROM ACCIDENTALLY FALLING INTO THE HOT TUB, THE OWNER WISHES TO BUILD A SIX-FOOT FENCE, BUT CITY REGULATIONS LIMIT FENCES TO FOUR FEET. TO HAVE A SIX-FOOT FENCE, THE OWNER MUST OBTAIN A
VARIANCE
63
A RESIDENTIAL NEIGHBORHOOD IN CENTRAL CITY CONSISTS OF HOMES BUILT IN THE LATE 1800S. THE NEIGHBORHOOD IS SUBJECT TO SPECIAL ZONING THAT PROHIBITS PROPERTY OWNERS FROM TEARING DOWN A CURRENT HOME AND REPLACING IT WITH A MODERN ONE. THIS TYPE OF ZONING IS CALLED
HISTORIC PRESERVATION ZONING
64
A DRAWING SHOWING THE SIZES AND LOCATIONS OF STREETS, UTILITY EASEMENTS, AND LOTS IN A SUBDIVISION IS CALLED A
PLAT MAP
65
TRUE OR FALSE; THE PROPERTY REPORT REQUIRED BY THE INTERSTATE LAND SALES FULL DISCLOSURE ACT, WOULD NEED TO INCLUDE THE ORIGINAL PURCHASE PRICE PAID BY DEVELOPER
FALSE
66
TRUE OR FALSE; THE PROPERTY REPORT REQUIRED BY THE INTERSTATE LAND SALES FULL DISCLOSURE ACT, WOULD NEED TO INCLUDE SOIL CONDITIONS AFFECTING FOUNDATIONS
TRUE
67
TRUE OR FALSE; THE PROPERTY REPORT REQUIRED BY THE INTERSTATE LAND SALES FULL DISCLOSURE ACT, WOULD NEED TO INCLUDE NUMBER OF HOMES CURRENTLY OCCUPIED
TRUE
68
TRUE OR FALSE; THE PROPERTY REPORT REQUIRED BY THE INTERSTATE LAND SALES FULL DISCLOSURE ACT, WOULD NEED TO INCLUDE EXISTENCE OF LIENS
TRUE
69
WHEN OTHER PROPERTY OWNERS IN AN ESTABLISHED SUBDIVISION WISH TO REMEDY A VIOLATION OF A RESTRICTIVE COVENANT BY A NEIGHBOR, THEY SHOULD
HIRE AN ATTORNEY AND SUE THE OFFENDER
70
DUE TO THE STRANGER SHAPE OF THE LOT, PRESENT ZONING RESTRICTIONS ABOUT PARKING SPACE REQUIREMENTS WILL CAUSE AN UNDUE HARDSHIP FOR THE OWNER’S PLANNED USE OF THE PROPERTY AS AN OFFICE BUILDING. IF THERE ARE NO OTHERS REASONABLE USES FOR THE PROPERTY AS AN OFFICE BUILDING. IF THERE ARE NO OTHER REASONABLE USES FOR THE PROPERTY, THE OWNER MAY BE ALLOWED TO PROCEED WITH HIS PLANS UNDER
A VARIANCE
71
TRUE OR FALSE; A GAS STATION HAS OPERATED AT THE EDGE OF TOWN FOR 20 YEARS. PURSUANT TO A NEW COMPREHENSIVE PLAN, THE CITY REZONES THE LAND AS RESIDENTIAL. THE MOST LIKELY INCOME IS THE STATION CAN CONTINUE TO OPERATE AS LONG AS THE BUILDING IS NOT ENLARGED
TRUE
72
TRUE OR FALSE; A SUBDIVISION CONSISTS OF AT LEAST FIVE PARCELS OF LAND FOR THE PURPOSE OF SALE OR DEVELOPMENT NOW OR IN THE FUTURE
FALSE
73
TRUE OR FALSE; A BROKER CAN NEGOTIATE A SALES CONTRACT ON LOTS IN A NEW SUBDIVISION ONLY AFTER THR FINAL SUBDIVISION PLAT HAS BEEN RECORDED
FALSE
74
TRUE OR FALSE; REGARDING ON-SITE SEPTIC SYSTEM PERMITS, THE PERMIT WILL DESCRIBE MAXIMUM OCCUPANCY AS THREE PERSONS PERMITTED BEDROOM
FALSE
75
TRUE OR FALSE; REGARDING ON-SITE SEPTIC SYSTEM PERMITS, THE PERMIT MAY LIMIT THE LOCATION OF THE SYSTEM AND/OR USES THAT MIGHT OVERLOAD THE SYSTEM
TRUE
76
TRUE OR FALSE; REGARDING ON-SITE SEPTIC SYSTEM PERMITS, THE PERMIT IS VALID FOR A SPECIFIED PERIOD AND IS AVAILABLE THROUGH COUNTY HEALTH DEPARTMENTS
TRUE
77
TRUE OR FALSE; REGARDING ON-SITE SEPTIC SYSTEM PERMITS, BUYERS SHOULD DETERMINE A PROPERTY’S SEWAGE DISPOSAL SYSYEM AND SHOULD BE ENCOURAGED TO OBTAIN A SOIL SUITABILITY (PERC) TEST FOR UNIMPROVED LAND
TRUE
78
THE TYPE OF RESIDENTIAL SUBDIVISION ZONING THAT WOULD MAXIMIZE OPEN SPACE WOULD BE
CLUSTER ZONING
79
TRUE OR FALSE; REGARDING LAND USE, REAL ESTATE BROKERS ARE RESPONSIBLE ONLY FOR DETERMINING AND DISCLOSING WHETHER SUBDIVISION STREETS ARE PRIVATELY OR PUBLICLY MAINTAINED IN NEW SUBDIVISION
FALSE
80
TRUE OR FALSE; A SUBDIVISION DEVELOPER MUST DISCLOSE WHETHER STREETS IN A NEW SUBDIVISION ARE INTENDED FOR PUBLIC OR PRIVATE USE
TRUE
81
TRUE OR FALSE; BUYERS OF NEW SUBDIVISION LOTS MUST RECEIVE AND SIGN A WRITTEN DISCLOSURE OF STREET STATUS
TRUE
82
TRUE OR FALSE; SUBDIVISION STREETS BUILT TO THE NORTH CAROLINA DEPARTMENT OF TRANSPORTATION’S STANDARDS FOR PUBLIC ROAD MAINTENANCE ARE NOT AUTOMATICALLY ADOPTED FOR STATE
TRUE
83
TRUE OR FALSE; REGARDING LAND USE, A BROKER’S RESPONSIBILITY IS KNOWING ALL OF THE PROTECTIVE COVENANTS AFFECTING A COMMUNITY
FALSE
84
TRUE OR FALSE; REGARDING LAND USE, A BROKER’S RESPONSIBILITY IS EXPECTED TO BE ABLE TO RECOGNIZE PATENT SIGNS OF FLOODING ON A PROPERTY OR WHEN A PROPERTY’S LOCATION MAY MAKE IT SUSCEPTIBLE TO FLOODING
TRUE
85
TRUE OR FALSE; REGARDING LAND USE, A BROKER’S RESPONSIBILITY IS EXPECTED TO BE ABLE TO RECOGNIZE “RED FLAG” SITUATIONS REGARDING LAND USE ISSUES AND TO ADVISE THE PARTIES INVOLVED OF THE POTENTIAL PROBLEM
TRUE
86
TRUE OR FALSE; REGARDING LAND USE, A BROKER’S RESPONSIBILITY IS TO AVOID ANY REPRESENTATION ABOUT A PROPERTY’S ZONING WITHOUT VERIFYING THE PROPERTY’S ZONING AND, IF APPROPRIATE, FLOOD HAZARD AREA MAPS AND ANY RESTRICTIVE COVENANTS AFFECTING THE PROPERTY
TRUE
87
REFERS TO WASTEWATER DISCHARGED DIRECTLY INTO THE YARD OR INTO A NEARBY CREEK OR STREAM RATHER THAN INTO ANY APPROVED TREATMENT SYSTEM
STRAIGHT-PIPING
88
ABSTRACT OF TITLE
89
ACTION TO QUIET TITLE
90
ADVERSE POSSESSION
91
ALIENATION
92
AMERICAN LAND TITLE ASSOCIATION (ALTA)
93
BARGAIN AND SALE DEED
94
CHAIN OF TITLE
95
CLOUD ON THE TITLE
96
CONDEMNATION
97
CONNOR ACT
98
CONSTRUCTIVE NOTICE
99
COVENANT
100
DEED
101
DELIVERY AND ACCEPTANCE
102
EMINENT DOMAIN
103
ESCHEAT
104
EXCISE TAX
105
GENERAL WARRANTY DEED
106
GRANTEE
107
GRANTING CLAUSE
108
GRANTOR
109
INTESTATE
110
MARKETABLE TITLE
111
MARKETABLE TITLE ACT
112
NORTH CAROLINA INTESTATE SUCCESSION ACT
113
QUITCLAIM DEED
114
RECORDING
115
SPECIAL WARRANTY DEED
116
TITLE
117
TITLE INSURANCE
118
TITLE SEARCH
119
WILL
120
AESTHETIC ZONING
121
BUFFER ZONE
122
BUILDING CODE
123
BUILDING PERMIT
124
CERTIFICATE OF OCCUPANCY (CO)
125
CLUSTER ZONING
126
CONDITIONAL-USE PERMIT
127
DECLARATION OF RESTRICTIVE COVENANTS
128
ENABLING ACT
129
EXTRA-TERRITORIAL JURISDICTIONS (ETJS)
130
FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA)
131
FLOOD HAZARD AREA
132
HISTORIC PRESERVATION ZONING
133
INTERSTATE LAND SALES FULL DISCLOSURE ACT
134
LACHES
135
MASTER PLAN
136
NONCONFORMING USE
137
OVERLAY DISTRICT
138
PLAT MAP
139
POLICE POWER
140
PROPERTY REPORT
141
PROTECTIVE COVENANT
142
RESTRICTIVE COVENANT
143
SPOT ZONING
144
STRAIGHT-PIPING
145
SUBDIVISION
146
VARIANCE
147
WETLANDS
148
ZONING ORDINANCE