PA Real Estate Exam Prep

46 cards

PA real estat e exam p


 
  
Created Jun 8, 2010
by
jyatsko

 

 
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1
Police Power
 
Power of the state to  make laws to promote general welfare & protect public health...
2
Examples of Police Power
 

Zoning

Building Codes

Environmental Protection

3
Created by states to grant zoning power to municipal governments
 
Enabling acts
4
Taxation
 
Power to tax real estate to meet the needs of the government
5
Eminent Domain
 
Power of the government to acquire private property for public use while providing  compensation(condemnation)
6
Escheat
 
State laws that allow real estate to revert to the state when the owner dies intestate and...
7
Riparian Rights
 
Rights granted to land owners along a non-navigable river or stream
8
Littoral Rights
 
Rights granted to land owners along an ocean or large lake
9
Prior Appropriation
 
The right to use water is controlled by the state, rather than an adjacent landowner. landowners...
10
Zoning
 
Local laws that regulate and control the use of land in the community. Generally pertaining...
11
Non-conforming Use
 
Use in existence prior to the passage of a zoning ordinance & allowed to continue...
12
Variance
 
Approval from the zoning authority that allows an individual to deviate from the zoning requirement
13
Conditional Use Permit
 
Allow for a use that does not conform with existing zoning, but is necessary for the common...
14
Downzoning
 
Land zoned for residential or commercial use is re-zoned for conservation only. The state is...
15
Buffer Zone
 
Land area that seperates one land use from another. Ex: a park that seperates a residential...
16
Spot Zoning
 
Reclassification of a small area of land for use that does not conform with the zoning of the...
17
Planned Unit Development (PUD)
 
PLanned mix of diverse land uses. Ex: residential & recreational use in one comprehensive...
18
Density Zoning
 
Ordinances that restrict the average number of houses per acre that may be built within a particular...
19
Building Codes
 
Ordinances that specify standards to construction, maintenance & demolition
20
City Plan Specifications
 
A master plan to guide physical development of a community
21
Subdivision Regulations
 
Apply to locations of streets, minimum lot size, etc.
22
NPDES
 
National Pollutant Discharge Ellimination System
23
Private Land Use Controls
 
Restrictions specified by the owner in the deed when conveying the property
24
Real Estate Taxes
 

Generally take priority over other liens

May be enforced by the court sale of real...

25
Ad Valorem Tax
 

(according to the value)

Includes taxes levied on real estate by various governmental...

26
Assessment
 
Appraisal of value for tax purposes by an assessor representing the municipality in which the...
27
Equalization Factor
 
Used in some states to correct general inequalities in statewide tax assessments
28
Special Assessments
 

 Special Taxes levied on real estate to pay for improvements that benefit their real...

29
Condiminium Associations
 
Have the legal right to assess charges for common area maintenance (CAM) dues as well as special...
30
Floodplain
 
Portions of land located near running bodies of water, such as rivers or lakes, that are subject...
31
Wetlands
 
Areas of land where groundwater is close to or at the surface of the ground for a period of...
32
Shoreline Regulation
 
zoning laws that reflect environmental as well as health and safety concerns; usually require...
33
Radon Gas
 
An odorless radioactive gas produced by the decay of radioactive materials in rocks under the...
34
Asbestos
 
Material used for many years as insulation on plumbing pipes and heat ducts and as general...
35
Friable
 
The disintigration of aging asbestos material
36
Urea-formaldehyde foam insulation (UFFI)
 
a synthetic material generally used to insulate buildings prior to 1978. It was banned because...
37
Lead Poisioning
 
  1. Owners of residential properties built before 1978, when the use of lead-based paint...
38
PCB's(polychlorinated biphenyls)
 
Used in the manufacture of electrical products such as voltage regulators as well as in paints...
39
Electromagnetic fields (EMFs)
 
Generated by movement of electrical currents
40
Environmental Protection Agency (EPA) Laws
 

-Toxic Substance Control Act

-Resources Conservation and Recovery Act

-Federal...

41
Resources Conservation and Recovery Act (RCRA) of 1976
 
Created to regulate the generation, transportation, storage, use, treatment, disposal, and...
42
Comprehensive Environmental Response Compensation and Liability Act (CERCLA) of 1980
 

Established $9billion superfund to clean up hazardous waste

Established process...

43
Leaking Underground Storage Tanks (LUST) of 1984
 

Governs install, maint, monitoring & failure of UST

Aimed at protecting groundwater

44
Superfund Amendments and Reauthorization Act (SARA) of 1986
 

Est stronger cleanup standards

Increased funding for superfund

Claified...

45
Deed Restrictions or Covenants
 

Private restrictions that limit the use of the property

May be terminated by quitclaim...

46
Avulsion
 
Sudden loss of land caused by an act of nature such as an earthquake

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