About This Chapter
Real Estate Land Use Controls & Regulations - Chapter Summary
This chapter is a convenient way to increase your knowledge of real estate land use controls and regulations. Our expert instructors discuss common types of building codes, deed restrictions, and how the government regulates special land types. You'll also find helpful lessons on land use zoning and how real estate assessments can be challenged. After completing the chapter, you should be able to:
- Discuss land use laws enacted by the federal government
- Explain how local government regulates the use of real estate
- Detail how property taxes are calculated
- Provide a definition for inverse condemnation
- Recount real estate processes subject to escheat
- Describe risks associated with buying real estate
- Discuss buyer protections from environmental hazards in real estate
- Outline restrictions imposed by homeowner's associations
Instructors assist you with quickly grasping the many concepts presented on real estate land use controls and regulations. If you happen to get stuck on a topic, you can submit questions to experts. A brief quiz is available for each lesson to test your comprehension of the concepts covered.
1. Federal Land Use Laws & Regulations
The use of real estate is regulated at the federal, state and local levels. In this lesson, we will be focusing on the land use laws and regulations enacted at the federal level of government.
2. State & Local Authority in Regulating Land Use
State and local governments have the legitimate authority to regulate the use of real estate. In this lesson, you'll learn about the general police power of state and local governments and its application to real estate.
3. Property Taxes: Calculations & Rates
Depending on where you live, the property taxes for houses are calculated differently. Watch this video lesson to see how the calculations are made based on some example rates.
4. Real Estate Tax Assessments & Appeals
In this lesson, we'll discuss property taxes and how they're calculated. We'll also discuss real estate assessments and how they can be formally challenged.
5. Condemnation, Inverse Condemnation & Eminent Domain
In this lesson, the terms condemnation, inverse condemnation, and eminent domain will be defined. Additionally, an explanation of each and how they work together will be provided.
6. Escheat in Real Estate: Definition & Process
What does escheat mean? This lesson will define ''escheat'' and discuss the process for real property that is subject to escheat. It will help the reader to understand what happens when an individual dies without a will and/or heirs to his property.
7. Land Use Zoning: Definition, Codes & Types
In this lesson, we'll discuss the definition, codes and types of land use zoning. We'll cover the purpose of land zoning and how it works, as well as explore some common types of land zones.
8. Building Ordinances & Codes: Definition, Types & Purpose
Sellers, buyers, landlords, tenants and investors in real estate need to be aware of local building codes. In this lesson, you'll learn what building codes are, some common types, their purpose and importance.
9. Government Regulation of Special Land Types
This lesson on governmental regulation will discuss environmental hazards, cover special land types, explain the different governmental agencies' roles and will include definitions of the different flood zones and wetlands regulations.
10. Environmental Health Hazards & Risks in Real Estate
There are many environmental hazards and risks that are very important in Real Estate. Many of these hazards have disclosure laws while some do not. Real estate buyers and/or tenants need a real estate agent that is informed enough to ensure they are buying safe property.
11. Contaminated Property Restrictions in Real Estate
The EPA oversees restrictions regarding the sale of contaminated property. There are several acts under the Superfund/CERCLA to ensure that property owners and buyers are protected from environmental hazards. Through the EPA website, any buyer or real estate agent is able to review this legislation to ensure that they are informed and fully prepared to buy safe and hazard-free property for themselves and their family.
12. Deed Restrictions: Definition & Limitations
Deed restrictions can be a surprise to an unwary purchaser of real estate. In this lesson, you'll learn about these restrictions and the limit the law imposes upon them. A short quiz follows the lesson.
13. Covenants, Conditions & Restrictions: Definition, Purpose & Limitations
If you own a condominium, a townhouse or even a single-family home in a modern residential real estate development, there's a good chance you're subject to covenants, conditions and restrictions, which you can read about in this lesson.
14. Private Methods for Regulating Land Use
Governments are not the only ones that restrict how owners use real estate. In this lesson, you'll learn how private parties, such as homeowner's associations, lenders and sellers, impose limitations on what owners can do with their real estate.
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Other chapters within the Michigan Real Estate Broker Exam: Study Guide & Practice course
- Property & Land Characteristics
- Air, Mineral & Water Rights in Real Estate
- Liens & Encumbrances in Real Estate
- Types of Property Ownership
- Property Valuation & Appraisal
- Basic Real Estate Financing Terms & Concepts
- Types of Real Estate Loans
- Lending & Underwriting Processes
- Agency Relationships & Agreements
- Disclosures of Property Conditions
- Real Estate Sales Contracts
- Leasing & Property Management
- Real Estate Title Transfers
- Real Estate Practices
- Common Real Estate Calculations
- Michigan Licensing & Statutory Requirements
- Michigan Real Estate Laws
- Michigan Real Estate Broker Exam Flashcards