Arizona Salesperson Course Exam Prep: Land Use, Encumbrances, and Taxes Flashcard Set

Arizona Salesperson Course Exam Prep: Land Use, Encumbrances, and Taxes Flashcard Set Easement in gross Granted to a specific individual or business entity rather than attached to the property itself Private land use controls Include as easements, conditions, restrictions, and covenants Condition Contingencies under which a property might be won or lost if the condition is violated Covenant Agreements between two or more parties that are enforced via the court system Subdivision Land that's been divided into lots for development Homeowners associations (HOAs) Subject property owners to certain rights, responsibilities, and obligations, including the HOA assessments; restrictions vary Lien A debt against a property; considered a monetary encumbrance Writ of attachment An encumbrance on the property of a defendant in a pending lawsuit for monetary damages under special circumstances, such as when the defendant goes into hiding Subordination agreement When a lien holder agrees to modify the order of lien priority Dominant estate vs. servient estate The party burdening or inconveniencing the other property vs. the giver of the right Right-of-way (ROW) Provides a pass-through Public land use control An implementation of government authority primarily enacted through police power Eminent domain The government's power to take private land for public use Condemnation When the government actually takes someone's property Taking When a government authority regulates private property to the detriment of the landowner Escheat Government power to take property when the owner dies without having a will and no heirs or creditors can be found Incentive zoning A municipality will allow an otherwise prohibited type of construction if the developer will give the municipality something in return Bulk zoning regulations Restrict the density of buildings in an area through building design requirements Aesthetic zoning Creates cohesive neighborhoods and districts and preserves the "feel" of a neighborhood Downzoning Assigning a lower-density use zone to an area that previously allowed a higher-density use Inverse condemnation When property value is diminished due to adjacent land being taken for public use Building codes Address the method of construction, the materials used, and the safety and sanitary standards of a building to help ensure a safe, properly functioning environment Group home A facility where five or more adults who were once institutionalized live Comprehensive master plan Documents the community's makeup, such as demographics, businesses, industries, etc. Zoning ordinances Zoning map that divides the area into designated districts, and the text describing zoning classifications and permitted uses Nonconforming use Owner can continue to use the property as originally zoned, even if it's outside current zoning regulations Variance Permitted deviation from the zoning ordinance requirements due to proven hardship to the owner Special use permit (conditional use permit) Use that's not normally allowed in the zone, but which is expressly listed in the ordinance as permitted under certain conditions Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Identifies sites that have hazardous substances and requires cleanup by the responsible party Superfund Amendments and Reauthorization Act (SARA) Amended CERCLA; removed property owners' cleanup responsibilities if contamination occurred prior to ownership and due diligence was performed Conditions, covenants, and restrictions (CC&Rs) The rules of an association, such as a homeowners association or cooperative Conditions Contingencies in which a property might be won or lost if the condition is violated Covenants Agreements between two or more parties Deed restriction Limits the use or appearance of a given property; may be placed on an individual