Land Use & Zoning
A historic district designation in Georgia can affect a property owner's ability to:
APay property taxes
BAlter the exterior of their building without approval✓ Correct
CSell or lease the property
DObtain title insurance
Explanation
Properties in historic districts are subject to design review, meaning owners must obtain approval from a historic preservation authority before making exterior alterations or demolishing the structure.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
1031 ExchangeA tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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