Colorado's 'Drought Response Plan' affects real estate by:
Why B. Potentially restricting water use, affecting irrigation, landscaping requirements, and water availability for new development — impacting property values and development feasibility Is Correct
Answer B: B. Potentially restricting water use, affecting irrigation, landscaping requirements, and water availability for new development — impacting property values and development feasibility
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Key Terms to Know
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
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