Management
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Land and real estate management terms, definitions, and concepts.
Land Terms
One (1) square rod, pole, or perch is equal to 272.25 square feet. One (1) square rod, pole, or perch is equal to 30.25 square yards. One (1) square rod, pole, or perch is equal to 0.0625 square chains. One (1) square rod, pole, or perch is equal to 0.025 roods. One (1) square rod, pole, or perch is equal to 0.0074 arpents. One (1) square rod, pole or perch is equal to 0.00625 acres. One (1) square rod, pole, or perch is equal to 25.293 square meters. One (1) square rod, pole, or perch is equal to 0.00253 hectares. One (1) square rod, pole, or perch is equal to 0.0000253 square kilometers. One (1) square rod, pole, or perch is equal to 0.00001 square miles or sections.
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One (1) square yard is equal to 0.8361 square meters. One (1) square yard is equal to 9.0 square feet. One (1) square yard is equal to 0.0331 square rods, poles, or perches. One (1) square yard is equal to 0.0021 square chains. One (1) square yard is equal to 0.0008 roods. One (1) square yard is equal to 0.00024 arpents. One (1) square yard is equal to 0.00021 acres. One (1) square yard is equal to 0.000084 hectares.
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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
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A ratio comparing current stand density to an ideal or reference stand density (usually derived from yield tables), resulting in a stocking percentage (e.g., 75% stocked). Stands of trees may therefore be understocked, overstocked, or fully stocked according to these criteria. Also known as stocking level.
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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.
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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.
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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.
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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.
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Water that flows over the earth's surface; precipitation that falls to the earth, is not infiltrated, evaporated, or transpired, and exceeds the capacity of the soil or the vegetation to absorb it.
Also known simply as Runoff.
Terms, Definitions, and Concepts: Agriculture, Ecology, Forestry and Silviculture, Hydrology, Management, Pollution, Science, Water
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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.
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A common forestry and land survey term that is equivalent to 66 linear feet. Often referred to as simply "chain", this term is more formally known as the surveyor's or Gunter's chain. A chain is broken into 100 equal parts, or links. One (1) mile is equal to 80 chains. A one (1) mile square piece of land (one section or 640 acres) is 80 chains on each side. Although an engineer's or Ramsden's chain is also used to measure length in surveys, the generic term "chain" when used in reference to land measurements refers to the unit of length (66 feet) represented by the Gunter's or surveyor's chain. For more chain conversions, equivalents, and examples, see Chain equivalents and conversions or the various Converting chains to... examples.
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Agricultural production that includes ecological and sustainability concerns in addition to economic and commodity values. Also known as "Alternative agriculture", this set of farming methods often includes organic farming, locally-based food production, biological pest control, and unique marketing strategies. This type of system is sustainable in the sense that the social, economic, and ecological benefits can last for extended periods of time without degradation of natural resources.
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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.
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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.
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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
states.
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Interior structural changes made to a commercial or residential building prior to tenant occupancy. The nature and
extent of such changes are varied and depend on the needs and desires of the future tenant. The tenant may take
possession of a grey shell, vanilla shell, or completely improved interior space depending on these needs and
desires. Responsibility for design of, installation of, and payment for tenant improvements is negotiated at the
time of the lease agreement.
The landlord may furnish all or part of the tenant improvements, or may offer a financial incentive in the form of
a tenant improvement allowance (TIA), usually on a per square foot basis. Landlord-provided tenant improvements
can be either "under-ceiling" or "slab-to-slab".
Examples of tenant improvements may include HVAC systems, plumbing and wiring, partitions and interior walls,
flooring, ceiling tiles, lighting, signs, shelving and storage, restroom fixtures, fire protection, and security systems.
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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.
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