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