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Real Estate Prep Course Florida Nov 2021
Glossary Terms Unit 2: Governmental Rights in Land
11
Real Estate & Planning
Undergraduate 1
11/09/2021

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Cards

Term
Immune
Definition
Government owned properties that are not assessed and not taxed
Term
Ad Valorem
Definition
The term that refers to property taxes being based upon the assessed or just value
Term
Exempt
Definition
Church and nonprofit owned properties that are subject to taxes that they don’t pay
Term
Variance
Definition
Permission to vary from strict compliance when the zoning code causes an undue hardship
Term
Setback
Definition
A restriction that specifies the location of improvements in relation to boundaries
Term
Ordinances
Definition
Local regulations to ensure that property and owners adhere to land use restrictions
Term
Buffer Zone
Definition
A strip of land that separates two drastically different land use zones
Term
Nonconforming Use
Definition
The owner is allowed to continue the present use that no longer complies with current zoning
Term
Homestead
Definition
Property that is owned and occupied as the primary residence
Term
Eminent Domain
Definition
The right of the government to take private lands for public use
Term
Escheat
Definition
The government’s reversionary right exercised when a property owner dies intestate and with no heirs
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