Podcast
Questions and Answers
What does police power refer to?
What is eminent domain?
The power of the state to take property for public use.
What does taxation refer to in real estate?
A charge on real estate used to pay for services provided by the government.
What is escheat?
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What is zoning?
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What does condemnation refer to?
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What is inverse condemnation?
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What is a variance in real estate?
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What does down zoning refer to?
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What is a buffer zone?
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What is a buffer in real estate?
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What does density refer to in real estate?
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What is a setback in real estate?
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What is the floor area ratio?
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Study Notes
Real Estate Police Power Terms
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Police Power
- The ability of the state to regulate individual behavior or property
- Aims to maintain the health, safety, welfare, and morals of the community
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Eminent Domain
- Government's authority to seize private property for public use
- Requires just compensation to the property owner
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Taxation
- Imposition of charges on real estate
- Funds governmental services and infrastructure
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Escheat
- Process where property reverts to the state
- Occurs when an individual dies intestate (without a will) and has no heirs
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Zoning
- Local government regulations on land use and development
- Establishes a master plan for urban development
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Condemnation
- Legal process of transferring ownership from a private party to the government
- Used in relation to eminent domain
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Inverse Condemnation
- Occurs when the government takes private property without just compensation
- Property owners can file claims to seek compensation
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Variance
- A permitted deviation from established zoning regulations
- Allows for exceptions in land use under specific circumstances
Development and Land Use Terms
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Down Zoning
- The process of reclassifying land from commercial to residential use
- Typically leads to reduced development potential
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Buffer Zone
- Land area serving as a barrier between differing land use districts
- Examples include parks, playgrounds, or highways
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Buffer
- Physical barrier located between two lots
- May consist of fences, walls, or rows of trees for privacy and separation
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Density
- Measurement of the number of housing units per acre in a subdivision
- Influences urban planning and community development
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Setback
- Required distance from property boundaries to structures
- Ensures adequate space and safety from roads and sidewalks
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Floor Area Ratio (FAR)
- Ratio that compares the total square footage of a building to the land area it occupies
- Used to control building size and density in a given area
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Description
Test your knowledge on key terms related to real estate police power. This quiz covers essential concepts such as police power, eminent domain, and taxation. Perfect for students and professionals looking to solidify their understanding of real estate regulations.