Land Use & Zoning
In South Carolina, what is a 'Transfer of Development Rights' (TDR) program?
AA program to transfer zoning authority from state to local government
BA program allowing development rights to be moved from designated preservation areas to designated growth areas✓ Correct
CA program for transferring property without a deed
DA federal program for urban renewal
Explanation
TDR programs allow landowners in preservation areas (sending zones) to sell their development rights to landowners in designated growth areas (receiving zones) who can then build at higher densities. This preserves sensitive lands while accommodating growth elsewhere.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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.
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
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