Term
Public
(Public Controls Affecting Land Use) |
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Definition
Government
Public restrictions stem from the police power of government
GOv. land use controls include planning, zoning, building codes, public health ordinances and environmental protections laws. |
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Term
Land Use Planning
(Public Controls Affecting Land Use) |
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Definition
Land use planning is an organized effort to provide for the orderly growth and development of a community.
A master plan is developed to serve as a blueprint for future development. |
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Term
Use classifications
(Land Use Planning)
(Public Controls Affecting Land Use) |
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Definition
| RESIDENTIAL, COMMERCIAL, INDUSTRIAL, MULTI-FAMILY AND RECREATIONAL. Agricultural zoning is part of industrial. Farming=industrial. |
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Term
MIXED-Use Zoning
(Land Use Planning)
(Public Controls Affecting Land Use) |
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Definition
| allows for a complimentary combination of zoning classifications such as residential, commercial, entertainment, retail and office. Creates a live-work-play environment, common in cities |
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Term
Historic Districts
(Land Use Planning)
(Public Controls Affecting Land Use) |
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Definition
| for the preservation of historic sites, such as the French Quarter in New Orleans and also conservation districts designed to protect areas of natural beauty or ecological significance. conservation districts forbid from building on the land. ex. stone mountain park |
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Term
Buffer Zones
(Land Use Planning)
(Public Controls Affecting Land Use) |
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Definition
| Used to separate incompatible uses for example would be a landscaped parks, playgrounds or wooded areas to separate residential areas from those that are commercial or industrial |
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Term
Zoning
(Public Controls Affecting Land Use) |
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Definition
| Down-zoning: rezoning a parcel to a lower density or less profitable use |
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Term
Spot Zoning
(Public Controls Affecting Land Use) |
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Definition
| Permitting a small area to have a use that is insistent with the surrounding area. ex. small convenience store to operate in a residential area. Typically starts off residential then commercial |
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Term
Aesthetic Zoning
(Special Types of Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| Aesthetic Zoning: "Cookie cutter houses", architectural styles must be compatible. |
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Term
Bulk Zoning
(Special Types of Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
designed to limit population growth and density in certain areas. One method of assessing density is the FAR=FLOOR AREA RATIO which is determined by dividing the total floor area of a building by the lot area.
Also employs Setbacks which are required distances a building must be places from front, side, and rear lot lines |
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Term
Directive Zoning
(Special Types of Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| Designed to encourage the highest and best use of the land |
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Term
Incentive Zoning
(Special Types of Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| an award based system that encourages developers to meet certain physical, social, or cultural benefits. |
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Term
Exclusionary Zoning
(Special Types of Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| term applied to laws which require such large lots and houses that low income families are effectively barred. |
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Term
Non-Conforming Use
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
grandfathered in property. you were there prior to zoning therefore you can stay there.
Zoning is not retroactive.
If store or building is destroyed (ex. burned down) zoning would probably require that any new building to be erected on the site conform with the current residential zoning. |
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Term
Procedure to Change Zoning
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| Rezoning petition is filed with the local zoning board. A public hearing is scheduled and advertised in a local newspaper as well as on a sign posted on the subject property for the prescribed period of time.A new local local is also required for the completion of the rezoning. |
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Term
Variance
(Procedure to Change Zoning)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| sought out from the zoning board as well to be allowed to use it for some purpose that does not comply with its current use-designation. An exception. appeal us usually based on hardship; petitioner must prove the situation is unique and that the granting of the variance would no adversely affect the character of the neighborhood. This does not change the zoning. granted for a particular task. once task is complete, exception ends. Ex. seek a variance to play mobile homes in an area devastated by a tornado. |
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Term
Building Codes
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
Zoning codes applies to USES of Land or Improvement of the property
1. Before new construction or remodeling can begin, the builder MUST present to the building inspector plans which meet applicable building codes and zoning ordinances.
2. Upon approval, a BUILDING PERMIT is issued and work can begin.
3. As work progresses, each phase is inspected to determine if the work is being accomplished according to code.
4. When project is completed and the final inspection has been made, a CERTIFICATE OF OCCUPANCY is issued by the bldg. inspector and ONLY THEN can the bldg. be occupied. |
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Term
Abatement
(Building Codes)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| when construction is not in compliance with the code, the job is shut down by a court order or ABATEMENT |
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Term
Subdivision
(Subdivision Regulations)
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| A parcel of land divided into a number of smaller lots. Subdivider or developer must submit a detailed set of plans to the board or similar authority. |
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Term
Interstate Land Sales Full Disclosure Act
ILSFDA
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
federal law which is intended to protect consumers in the purchase or lease of lots in a subdivision using any means of interstate commerce. passed in 1969 as a result of scams in the sale of unimproved and undesirable sight unseen land across state lines.
The law requires that a factual report be delivered to the buyer before entering into a purchase agreement. Lots with 20 acres or more= a town and MUST be looked at by the buyer. The law allows cooling-off period of 7 business days after receipt of the report in case purchaser changes their mind can rescind the contract and have any deposit returned. This is Called RIGHT OF RESCISSION |
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Term
HUD
(Zoning)
(Public Controls Affecting Land Use) |
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Definition
| House Urban Development controls housing development |
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Term
Ad Valorem Taxes
(Real Property Taxes) |
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Definition
| Real estate prop taxes provide local gov. with their primary source of income for funding schools, hospitals, fire and police protection and road maintenance. The theory is that an owner's ability to pay taxes is in direct relationship to the value of one's property. |
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Term
Budget
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| Taxing authority must prepare an annual budget estimating needed income for expenses to be made in the coming fiscal year in order to operate. |
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Term
Appropriation
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| After budget has been approved, the legislative body formalizes how the money is to be acquired and how it is spent |
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Term
Levy
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| how taxes will be imposed/charged on individuals or on property. amount not covered by sales taxes, business licenses, revenue sharing, or local income taxes must be paid by prop. taxes. |
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Term
Assessment
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| Tax assessor determines the market value of each parcel property. An established assessment rate is then applied to the market value. In GA the Assessment rate is 40% of market value |
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Term
Appeal
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| If property owner feels that an assessment is unfair there is a review board or board or arbitration and an appeal can be made |
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Term
Equalization
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| to assure fair treatment for taxpayers from all local jurisdictions, the state board of equalization establishes equalization factors. |
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Term
Tax Rate
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
total assessed value of all of the properties in the jurisdiction are called assessment roll and to total assessed value is called tax base. To determine the tax rate:Divide the total amount of budget money needed, minus other sources of revenue byt the total assessed values.
MILL= DOLLARS PER THOUSANDS |
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Term
Tax Exemptions
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| Religious organizations, public hospitals and public school are exempt from ad valorem taxes. Private hospitals/schools are not. |
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Term
Tax Collection
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
Unpaid Taxes: Property tax liens have priority over all other liens.
Right of Redemption: A delinquent taxpayer has a right to redeem the property at any time prior to the tax sale by paying all back taxes plus interest and penalties within a specified period after the tax sale.
GA=11 years. GA has equity right of redemption + Statutory right of redemption. Equity=before foreclosure and Statutory= after foreclosure redemption |
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Term
Special Assessment
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
Tax Levy: When a local improvement such as the sidewalks, street lights sewers etc. will benefit only the neighborhood the improvement serves, that neighborhood is classified as an improvement district.
Mortgage interest and property taxes ARE A DEDUCTIBLE
Takes priority over all other liens (property tax liens) |
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Term
Asset
(Ad Valorem Tax Process)
(Real Property Taxes) |
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Definition
| Income producing property |
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Term
Capital Gains
(Federal and State taxes) |
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Definition
Profit made when selling an asset(income producing property)
Capital Gain is calculated by subtracting the property's basis from the sales price. The adjusted sales price (amount realized) is the price received for the property, minus allowable costs of sale. Costs of Sale are fees paid by the seller and include brokerage commissions, closing costs, legal fees, discount points and surveys. |
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Term
Tax Relief Act of 1997
(Capital Gains)
(Federal and State taxes) |
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Definition
2 Rules for non-payment of capital gains: exempts homeowner from payment of capital gains. To qualify, the taxpayer must have lived in and owned the home as their primary residence for at least 2 of the last 5 years from the date of sale. A married couple filing jointly who meet the use and time requirements may be forgiven for paying a tax on any gain up to the $500k. A single person may be forgiven for paying a tax on any gain up to $250k. The taxpayer may qualify for only 1 tax free sale within any two year period.
INVESTORS WHO SELL THE INVESTMENT PROPERTY TO BUY ANOTHER INVESTMENT PROPERTY MAY BE EXEMPT FROM CAPITAL GAINS OR LIVE IN IT FOR MIN. 2 YEARS. |
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Term
State Taxes
(Federal and State taxes) |
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Definition
TRANSFER/CONVEYANCE TAX when property is conveyed PAID at time of recording usually BY the SELLER.
INTANGIBLES TAX is PAID on new mortgage loans at the time the loan is recorded usually BY the BUYER. |
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Term
Civil Rights Act of 1866
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
RACE
states all races shall have the same right to buy,sell and lease or hold real and personal property. |
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Term
Federal Civil Rights ACt of 1968
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
Federal Fair Housing Act: made it illegal to discriminate in the sale or rental of a residence because of:
RACE
COLOR
RELIGION
NATIONAL ORIGIN
added later by amendments:
SEX
FAMILIAL STATUS
HANDICAP/DISABILITY
7 Protected CLasses
These protected classes are considered minorities regardless of their numbers. term pertains to any group that is inferior to the dominant group in respect to social status, employment, wealth, education and political power.
MINORITY HAS NOTHING TO DO WITH NUMBERS. |
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Term
Blockbusting
(Prohibited Practices)
(Federal Civil Rights ACt of 1968)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
| Inducing/influencing owners/sellers ( NOT BUYER) to sell by leading them to believe that minority individuals are moving into the are. |
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Term
Red Lining
(Prohibited Practices)
(Federal Civil Rights ACt of 1968)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
| Lenders who refuse to make loans to certain areas for discriminatory reasons. lender discrimination over an area. |
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Term
Exemptions from 1968 Fair Housing Act
(Federal Civil Rights ACt of 1968)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
There are 4 significant exceptions to the Fair Housing Law of 1968. EXCEPT RACE CAN NEVER DISCRIMINATE AGAINST RACE
]1. Owner, selling or renting a single-family dwelling is exempt provided that:
a. the owner does not own or have an interest in more than 3 dwellings
b. no broker is employed (sell by owner)
c. no discriminatory advertising is used
d. the owner must currently reside in the dwelling or be the most recent occupant
2. Owner renting in an owner occupied 4 unit or less dwelling known for Mrs. Murphy's exemption provided that:
a. no broker is used
b. no discriminatory advertising is used
3. The sale or rental or a dwelling owned by a religious org. as long as the religion itself does not discriminate in its membership. Ex. "for church members only"
4. Property owned by private clubs are exempt as long as the club does not discriminate in its membership "for club members only |
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Term
1974 Amendment to Fair Housing Act
(Federal Civil Rights ACt of 1968)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
| added sex, whether female or male to the list. as of 2020 SEXUAL PREFERENCE/SEXUAL IDENTITY |
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Term
Handicap Classification
(Federal Civil Rights ACt of 1988)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
1. Anyone who has a mental illness that limits life activities such as walking, talking, seeing, hearing , learning etc.
ex. ptsd, tbi(traumatic brain injury)
2. has a record of such impairment
3. includes defects in sight or hearing, the mentally ill, wheelchair bound, alcoholism, AIDS, cancer and recovering drug addicts. IF IN TREATMENT or FINISHED TREATMENT or IN THE PROCESS OF RECEIVING TREATMENT
4. Landlords must allow reasonable modifications (structural changes) to a dwelling as well as the common areas. ex. shower grab bars, ramp, etc as long as it does not cause a financial burden to the landlord ex. installing an elevator to a 2nd floor wheelchair bound tenant.
5. Service Animals or Emotional Support Animals with a Dr's note or Prescription and are trained do not incur pet fees nor pet rent but can incur a pet deposit for pet damages. |
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Term
Familial Status
(Federal Civil Rights ACt of 1988)
(History of Fair Housing Law)
(Federal Fair Housing Law) |
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Definition
Having children under 18 whether through pregnancy, adoption or custody case.
Housing for older people may restrict children from their community in either of two cases:
1. Housing that is intended for an solely occupied by people over 62 years of age or senior living
2. a community with 80% of the units have at least one occupant who is over 55 yrs old. 20% can have children. |
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Term
Steering
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| Influencing a BUYER. limiting a prospects choice of neighborhoods on any basis of the protected classes |
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Term
Blockbusting
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| Inducing/influencing owners/sellers ( NOT BUYER) to sell by leading them to believe that minority individuals are moving into the are. |
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Term
Less Favorable Treatment
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| Treating a minority customer or client less favorable than a non-minority customer or client |
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Term
Discrimination
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| lenders must also comply with Fair Housing Law and will be in violation if they discriminate in making loans or in loan terms |
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Term
Improper Listing
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| Can occur when a licensee takes a listing on a property knowing that the owners wishes to place restrictions on the parties to whom the property can be shown |
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Term
Advertising
(Fair Housing Offenses)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
unlawful to indicate any preference or limitation based on a protected class.
ex. putting it only in a chinese newspaper, offering discounts to church or military members only.
Describe the property not the individuals |
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Term
Equal Housing Opportunity
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
| Not using the HUD Equal House Opportunity Poster is NOT a sign of discrimination but is encouraged |
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Term
Americans with Disabilities Act-ADA 1990
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
devoted to requiring that org.'s and businesses make their services and their facilities accessible to customer and workers who are handicapped. Handicapped must have equal access to jobs. All new construction after July 1992 must be in compliance. An exception to remodeling existing structures is accorded to businesses where this would cause a substantial economic hardship. Handicapped should not be denied jobs when they could perform the work even though that might mean modification or the work situation or the acquisition of special equipment.
Fines may reach a max of $55k for a first penalty offense and $110k for subsequent offenses. |
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Term
Lead- Based Paint Hazard Reduction ACt
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
5 basic requirements on sellers, landlords and agents:
1. SELLERS, LANDLORDS, AND AGENTS MUST DISCLOSED ANY KNOWN PRESENCE OF LEAD BASED PAINT IN A RESIDENTIAL DWELLING OR ANY COMPONENT OR A DWELLING BUILT BEFORE 1978.
Does not require inspection but only notification.
2. Buyers or tenants must be given copies or any available records.
3. Buyers or tenants must be given a federally approved pamphlet "protect your family from lead in your home" PRIOR TO
4. purchasers (not tenants) must have 10 days prior to being obligated under a sales contract to conduct a risk inspection for the present of lead-based paint hazards.
5. Sales agreements and leases must include a confirmation statement that the seller or landlord has compiled with the required disclosures and notifications
Fines up to $16k per violation plus triple damages when medical treatment is required or hazards must be corrected. |
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Term
Exceptions to the Information Disclosure and Acknowledgement Form
(Lead- Based Paint Hazard Reduction Act)
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
-properties sold at foreclosure
-rental properties inspected and found free of lead-based paint by a certified inspector
-property leased for 100 days or less where no extension can occur ex. extended stay, hotels.
-renewal of an existing lease where disclosure has already taken place unless new information has turned up or unless the original lease was signed before the new law was passed
-zero-bedroom dwellings where sleeping area is not separate from living room area. ex. studios
-housing for the elderly or disabled, where no child under 6 is expected to reside. |
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Term
RRP Rule=Renovation, Repair and Paint
(Compliance with Fair Housing)
(Federal Fair Housing Law) |
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Definition
Can only be done by a certified contractor on a dwelling built prior to 1978. Law applies specifically to residential houses, apartments, and child-occupied facilities such as schools and day-care centers built before 1978.
It is important to only recommend a trained certified contractor for those properties.
The law applies to the disturbance of lead based paint in excess of 6 square ft. in a room or 20 sqft on the exterior. The replacement if any window in target properties also requires adherence to the
law.
$37,500 per violation per day for any violations of the rules under this law |
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Term
Do Not CAll Registry
(Federal Trade Commission) |
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Definition
| Telemarketers have 31 days from the date the phone numbers first appears on the list to cease all cold calls. A business must "scrub" their no-call list against the National Do Not Call Registry at least once every month (31 days) |
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Term
Exceptions to Do Not Call Registry
(Do Not CAll Registry)
(Federal Trade Commission) |
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Definition
1. Calls where a business relationship already exists. In such a case a call me be places for up to 18 months since the last transaction.
2. A consumer who has made an inquiry may be called for up to 3 months from the date of the last inquiry.
3. Calls may be placed to consumers who have granted written permission to be contacted.
Solicitation calls may only be placed between the hours of 8am and 9pm
Consumers who have not listed their number on the national registry may request no further calls be made from a particular company. |
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Term
Can-Spam Act of 2003
(Federal Trade Commission) |
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Definition
Controlling the Assault of Non-Solicited Porography and Marketing.
First attempt by the federal gov. to control commercial email. Addresses both unsolicited commercial email and text messages sent using an internet domain name. Applies to both bulk as well as single email solicitations. |
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Term
Requirements for compliance
(Can-Spam Act of 2003)
(Federal Trade Commission) |
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Definition
a. False or misleading header information is prohibited.
b. a valid physical postal address must be included.
c. The subject line must be accurate
d. there must be a clear indication that the transmission is an advertisement or solicitation unless the recipient has previously given consent
e. commercial email must provide a clear and conspicuous "opt-out" provision. The recipient may not be required to pay a fee or provide any information other than their email address. Opt out request must be honored within 10 business days.
A penalty of $16k may be imposed for each email sent that does not comply with the act. |
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Term
| Federal Anti-Trust Law 1890 |
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Definition
| It is designed to protect the public from monopolistic practices or activities that endanger competition in the marketplace and restraint trade. |
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Term
Actions of restraint of trade
(Federal Anti-Trust Law 1890) |
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Definition
a. Brokers who conspire to fix commission rates commission split to cooperating brokers, or nay other terms or conditions or brokerage engagements
b. Agreeing to divide markets by exclusive territories or allocation of customers
c. Economic (group) boycotts where 2 or more conspire not to do business with a competitor or a provider of services in an attempt to force a change in policy or to force them our of business
d. "tie-in" contracts: the sale of the first (desired) product or service is tied to the purchase of a second (less desirable) product or service
Fined up to $1,000,000 and sentenced to serve up to 10 years in prison. Corporations can be fined up to $100,000,000. |
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Term
Training Licensees for compliance
(Federal Anti-Trust Law 1890) |
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Definition
Licensees must understand that the critical terms or a contract are NEVER "standard" or "non-negotiable". The one acceptable phrase that can be used to defend the rate or term a licensee is proposing is:
"This is my company's policy." Or "My Broker charges this"
BROKER SETS THE COMMISSION. |
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Term
THe Georgia Fair Business Practices Act
FBPA
(Federal Anti-Trust Law 1890) |
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Definition
In protecting the public, the focus of this law is primarily on deceptive advertising.
1. It deals primarily with fraudulent ads
2. The ads must have an impact on the public as a whole
3. An actual transaction must occur in order to prosecute
4. the term "advertising" applies to any media
5. the law prohibits any misleading ads
6. the law is administered by the Governor's Office of Consumer Affairs. |
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Term
The Georgia Uniform Deceptive Trade Practices Act UDTPA
(Federal Anti-Trust Law 1890) |
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Definition
Deals primarily with price-fixing and any other practices which would restrict competition.
1. Similar to FBPA but covers a wider area of deceptive practices
2. No actual consumer transaction needs to occur
3. The State of GA, another broker, or an individual can sue
4. Prosecution can result in injunctions, fines, and or triple damages |
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