Property Ownership
Vermont's Act 147 (2012) modified Act 250 to provide benefits for:
ANew ski resort development
BDevelopment within designated downtown, village center, and growth center areas✓ Correct
CAgricultural operations of any size
DAll lake shoreland developments
Explanation
Act 147 and subsequent legislative updates to Act 250 provide expedited review and other benefits for developments located within designated downtown, village center, new town center, and growth center areas, encouraging infill and smart growth.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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