Exam (elaborations)
REE 3433 Ch. 13
Exam of 7 pages for the course TAX 4001 at TAX 4001 (REE 3433 Ch. 13)
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REE 3433 Ch. 13Building codes - ANS-specify construction requirements.
To obtain a building permit, need compliance w/ zoning and building codes
CCRS cont. - ANS-Implied Reciprocal Restrictions:
Owners are bound by restriction if they are part of a general plan of development and if
they had notice upon purchase
Racially Discriminatory Covenants:
The 14th amendment protects against interference with individual's rights by engaging
in discriminatory conduct.
Covenants as Private Planning:
A.) Developers may impose restrictive covenants to maintain architectural controls,
restrict uses and assess fees for common area maintenance.
B.) HOA may use covenants and restrictions and enforce them by placing liens on
property
Condemnation - ANS-The process of taking private property for public use through the
power of eminent domain.
Condominiums - ANS-Office, residential, retail, etc.
Separate ownership of individual units
Joint ownership of common areas
Cooperatives - ANS-Entity is often a corp.; entity owns the building. Stock allows right to
occupancy of unit.
- Unit is documented by a proprietary lease to shareholder
- Shareholder also holds a stock certificate
- By-laws: rights to sell stock, sale price
- Restrictions on
alienation
Covenant running with the land - ANS-A contractual promise that passes/runs with the
land.
Created by a deed
, Separate, detailed document
Declaration of Covenants, Conditions and Restrictions (CCR)
cumulative zoning - ANS-property CAN be used for more restrictive uses
i.e. Single family house would be permitted in an area zoned for multi-family -
apartments/townhomes
Dedication - ANS-When a private landowner gives the public ownership of or the right to
use his/her real estate.
e.g. park, wharf, highway or school
Development of regional impact - ANS-a development that has had such character,
magnitude or location that it has a substantial effect on the health, safety and welfare of
citizens of more than one county
Ex. airport, shopping mall
Eminent Domain - ANS-1. gov attempts to negotiate price
2. if owner does not wish to sell the gov files court action
3. gov goes to hearing property owner can respond to claim
4. if gov wins case they go into another case to establish fair market value of property
Eminent Domain - ANS-The power of the government by the Fifth Amendment to take
private property for public use upon the payment of just compensation.
Public Use:
A use that confers some benefit or advantage to the public
Taking property to eliminate nuisance, slum, or blight conditions prohibited.
The compensation is determined by considering the most profitable use of the land,
even though the land was being used for other purposes at the time
Environmental Land and Water Management Act of 1972 - ANS-Provides for Areas of
Critical State Concern (ACSC), which, because of their environmental significance, are
given greater state oversight of planning and land development regulation
Escheat - ANS-1. A reversion of property to the state when no individual is available
who legally qualifies to inherit it.
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