Deck 15: Federal Income Taxes and Real Estate

Question 1

Comprehensive plans should reflect what is best for the local and county governments.

Answer 1

False

Question 2

The primary function of building codes is to raise money for the city or county that is issuing the permits.

Answer 2

False

Question 3

Plat maps show the location of all structures that are to be erected on the subject property.

Answer 3

False

Question 4

Who creates a comprehensive plan?

A) The state planning commission
B) The city or regional planning commission
C) The local school district
D) The neighborhood associations

Question 5

The local ordinances that regulate land use are called:

A) restrictive deeds.
B) covenants.
C) easements.
D) zoning ordinances.

Question 6

Zoning that allows several types of land use on one property is called:

A) overlay zoning.
B) floor-to-area ratio zoning.
C) variance zoning.
D) zoning by estoppel.

Question 7

The relationship between the number of people who use or live in a building and the amount of land the building occupies is called:

A) variance.
B) density.
C) occupancy certification.
D) platting.

Question 8

A single parcel of real estate that is zoned differently from its neighbors may have zoning that is called:

A) comprehensive plan exception zoning.
B) variance zoning.
C) PUD zoning.
D) spot zoning.

Question 9

What is it called when an ordinance provides for a particular use but not a particular piece of land?

A) Spot zoning
B) Variance zoning
C) Floating zones
D) None of the above

Question 10

In residential subdivisions, protective covenants refer to:

A) laws formulated to protect homeowners.
B) restrictions formulated by the lender.
C) restrictions as to land use formulated by a developer or homeowners association.
D) none of the above.

Question 11

The permit that a local authority issues that allows construction to begin is called a:

A) building permit.
B) construction permit.
C) mechanic's lien.
D) certificate of occupancy.

Question 12

Local governments implement building codes for which reason?

A) To protect people by ensuring homes are constructed in a safe manner
B) To collect fees
C) To slow down construction
D) To force consumers to use licensed professionals for all phases of construction

Question 13

Which of the following restrict the rights of landowners?

A) Deed restrictions
B) Building codes
C) Subdivision restrictions
D) All of the above

Question 14

Building codes:

A) limit property owner's rights.
B) set minimum construction standards.
C) are enforced by local city or county inspectors.
D) all of the above.

Question 15

Zoning ordinances are designed to:

A) promote the orderly development of land.
B) protect property values by regulating land use.
C) provide continuity in neighborhoods.
D) all of the above.

Question 16

What is nonconforming use?

Question 17

What are transferable development rights (TDRs)?

Question 18

Why is it important to know the zoning on a parcel of land before you buy it?

Question 19

Define floor-area ratio zoning.

Question 20

When is a certificate of occupancy issued?

Question 21

What are the steps in taking an acreage tract and making it into a subdivision? Assume that the land is inside city limits.

Question 22

You want to buy a piece of property close to town. You want to live in the back and construct a building in the front to house your law office. You have found a great parcel but it is zoned residential single family. What are your options? (Assume that you want to buy this land and proceed with your building plans.)