What is a 'subdivision' in Delaware real estate development?
Why The division of a larger parcel of land into smaller lots for sale or development, subject to local subdivision regulations Is Correct
Answer B: The division of a larger parcel of land into smaller lots for sale or development, subject to local subdivision regulations
Key Land Use & Zoning Terms in This Question
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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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
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