Property Ownership
What is a 'dedication' of land to the public in Delaware real estate development?
AA tax-deductible charitable contribution of land to a nonprofit
BThe transfer of private land (roads, parks, open space) to the government as a condition of subdivision approval — the developer conveys the land, and the government accepts the dedication✓ Correct
CThe formal naming of a street or park after a notable local figure
DA conservation easement restricting development on private land
Explanation
Land dedication occurs when a developer transfers land to the government as a condition of subdivision or development approval. Common dedications include road rights-of-way, park land, and drainage easements.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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