What is 'exaction' in Delaware real estate development law?
Why A requirement imposed by government as a condition of development approval, requiring the developer to provide public facilities or pay fees proportional to development impacts Is Correct
Answer B: A requirement imposed by government as a condition of development approval, requiring the developer to provide public facilities or pay fees proportional to development impacts
Key Land Use & Zoning Terms in This Question
People Also Study
Related Delaware Questions
- What is a 'dedication' of land to the public in Delaware real estate development?Property Ownership
- What is 'adequate public facilities' (APF) or 'concurrency' in Delaware land use?Land Use & Zoning
- What is a lien on real property?Property Ownership
- Specific performance in a real estate contract lawsuit means:Contracts
- An agricultural district designation in Delaware primarily seeks to:Land Use & Zoning
- What is a 'development agreement' in Delaware land use?Land Use & Zoning
- What is 'transit-oriented development' (TOD) in Delaware land use?Land Use & Zoning
- What is 'residual land value' analysis in Delaware real estate development?Property Valuation
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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →