Land Use & ZoningIntermediateArizona Exam
The concept of 'transferable development rights' (TDRs) in Arizona allows:
ADevelopment rights from one parcel to be transferred to another to concentrate development and preserve open spaceCorrect
BProperty to be transferred between family members without recording
CZoning rights to be bought and sold like securities
DBuilding permits to be used on any parcel the developer owns
Why Development rights from one parcel to be transferred to another to concentrate development and preserve open space Is Correct
Answer A: Development rights from one parcel to be transferred to another to concentrate development and preserve open space
TDR programs allow development rights to be transferred from 'sending' parcels (preserved) to 'receiving' parcels (where development is desired), increasing density in targeted areas while protecting farmland, historic sites, or open space.
Key Land Use & Zoning Terms in This Question
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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