Types of Properties and Ownership

Question 1

accessory building

Answer 1

a separate building on a property that supports or is related to the main use of the property, such as a free-standing garage on a residential property

Question 2

assemblage

Answer 2

the act of putting together several properties into one larger property generally to create additional value (plottage)

Question 3

area variance

Answer 3

a one-property exception from the zoning regulations due to a physical hardship on the property that allows for an exception to rules such as the location of the placement of the building on the property

Question 4

add on factor

Answer 4

the percentage that is added to the useable space to arrive at the rentable space in a commercial building

Question 5

capital facilities

Answer 5

major municipally owned buildings and facilities within a community

Question 6

cluster zoning

Answer 6

a regulation that permits the same number of lots in a subdivision as regular zoning would allow, but permits them to be grouped together on smaller lots

Question 7

community property

Answer 7

a legal life estate in which the spouse is entitled to a one-half interest in real property acquired during the marriage

Question 8

condominium ownership

Answer 8

a form of group ownership where the owner receives a deed for the individual ownership of her unit as well as an ownership interest as a tenant in common for all common spaces

Question 9

corporation

Answer 9

a legal entity that for property ownership purposes is treated as a single person that will own property in severalty

Question 10

density zoning ordinance

Answer 10

a regulation that permits the same number of lots as the normal zoning would, but allows for varying lot sizes

Question 11

eminent domain

Answer 11

the right of the government to take property against the owner’s will for a public purpose