Definition: The act or practice of directing or leading buyers to limited choices or particular neighborhoods, or attempting to discourage buyers from looking for homes in a particular area or neighborhood. This practice is illegal under the Federal Fair Housing Act, even if the intentions of the "steerer" are not malicious in nature.
Terms, Definitions, and Concepts: Real Estate, Legal, Management
Ownership of or interest in a unit within a larger building or complex of buildings, usually coupled with an undivided interest in a proportion of all common areas.
This type of property ownership was first used in Australia in the early
1960's. Strata title began as a form of ownership for buildings with multiple levels or floors, such as condominiums or apartments. It has since been expanded to include most multi-family complexes, even if they have only one story or floor (such as townhouses). With strata title, the property owner has title to the space within the walls of his or her particular unit, as well as
an undivided interest in a proportion of all common areas. Strata title has
replaced company title in most areas where it exists.
Permanent change in or exemption from existing zoning regulations for adjacent parcels of property. Strip zoning is often achieved through zoning variances, conditional-use permits, or amendments to zoning district maps. For example, a row of houses in a residential zoning district along a road that has become a busy thoroughfare might be rezoned as commercial.
1. The process of buying undeveloped land, dividing it into smaller, usable lots, and selling the lots to potential users or investors.
2. Land that has been divided by the owner (subdivider) into individual parcels or lots which have been grouped into blocks. These lots, together with streets, alleys, parks, schools, planned commercial areas, and public utility easements, are recorded on a plat. Subdivision is subject to local and state regulations, and in most areas a lengthy application process and filing fee is required.
In Arizona, subdivision is defined as the act of dividing a parcel of land into six (6) or more parcels of equal or unequal size, any one or more of which is less than thirty-six (36) acres and offered for sale or lease. A disclosure law, the purpose of which is to protect the public from fraud through full and accurate disclosure, governs subdivision of land in Arizona. After state approval of the subdivision application, the subdivider must pay travel and related costs for an inspection of the site by the Arizona Department of Real Estate (ADRE). In addition, if the proposed subdivision is within an Active Management Area (AMA) as defined by the Arizona Department of Water Resources (ADWR), the subdivider or developer is "required to demonstrate an assured water supply that will be physically, legally, and continuously available for the next 100 years before the developer can record plats or sell parcels". Demonstration of an assured water supply is required before ADRE will issue a public report, allowing the developer to sell lots in the subdivision. This is known as the Assured Water Supply Program. In locations outside of AMA's, the Adequate Water Supply Program requires that a developer or subdivider may still sell lots in a subdivision even if the 100-year water supply is determined to be inadequate, as long as this fact is dislosed to potential buyers in the public report and in all promotional materials. Both water supply programs are overseen by ADWR's Office of Assured and Adequate Water Supply.
The process of granting subordinate tenancies that characterized feudal land tenure. The king or other sovereign would grant title to land to tenants-in-chief in return for certain services, who would in turn grant title to lesser tenants in return for services, and so on. Each tenancy thus created was subordinate to the one that preceded it, and title to land was not held absolutely, but rather "of" another.
See also "Substitution".
The transfer or conveyance of title to or an estate in real property to another. In essence, one landowner substitutes for another, with all rights intact except for those reserved by deed restriction.
Substitution began to replace subinfeudation (the granting of subordinate tenancies) with the decline of the feudal system.
Interests in property which may be inherited following the death of the previous owner of the estate, as when a grantor conveys a life estate to her husband, with the remainder to her son, with the remainder following her son's death to her grand-daughter, and so on.
The process by which boundaries are measured and the locations or forms of land areas are determined; the on-site measurement of lot lines, dimensions, and position of structures on a lot including the determination of any existing encroachments or easements.
The acquisition of private property for public use by state, federal, or municipal governments. The concept of taking originates in the takings clause of the Fifth Amendment to the U.S. Constitution, which states that when property is taken through the government or court actions of eminent domain and condemnation, the owner must receive just compensation.
1. Real or personal property that is visible and has physical form, as opposed to incorporeal property such as rights or patents.
Also known as corporeal property.
2. Real property consisting of land, improvements to the land (tenements), and physical appurtenances such as sidewalks.
A form of property ownership reserved for a
married couple, used in some states of the Unites States. The husband and wife together are
viewed as one legal person, with each possessing an equal, undivided interest
in the entire property. Generally, property owned in this manner cannot be divided without the consent of both spouses, and neither spouse can sell or transfer a portion of the property interest - it is "all or
nothing" under this system of common law, which is why the term entirety is used. Upon the death of one spouse, the
other takes sole ownership and possession of the real property. Tenancy by the
entirety is not allowed in all states, and is never used in community property
Lesser royalty (earls, barons, dukes, lords, etc.) who held title to feudal land directly from the king or other sovereign. Tenants in chief were required to provide military service to the king in the form of knights or soldiers in return for the right to own land.
1. A buildings, structure, or other improvement to land.
2. Land, buildings, offices, franchises, etc. owned by another and held in tenure (leased).
3. A rooming house; a set of rooms divided from the remainder of a building and leased as a separate dwelling (a flat or apartment).
4. A parcel of real property, either with or without improvements, as in the dominant and servient tenements of an easement.
1. The ownership of and right to own real estate.
2. Documentary evidence of real estate ownership in the form of a deed.
3. The set of circumstances that would allow one to recover or retain ownership of real estate if that ownership was challenged in court. These circumstances often include possession of the land and the existence of a recorded deed showing ownership.