northshorelandalliance.org

Website:http://www.northshorelandalliance.org
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Definitions (24)

1.

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North Shore Land Alliance 151 Post Road Old Westbury


516-626-0908 Fax: 516-484-4419 info@northshorelandalliance.org www.northshorelandalliance.org
Source: northshorelandalliance.org

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Conservation Tools


//northshorelandalliance.org/conservation-easements/">Conservation Easements
Source: northshorelandalliance.org

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Transfer of Development Rights


The transfer of certain real property interests to subdivide, build, and develop a property from one property in a sending district to another property or properties in a receiving district.
Source: northshorelandalliance.org

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Testamentary Gift


 Gift by will.
Source: northshorelandalliance.org

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Restrictive Covenants


 Used in many subdivisions, these regulate the use of property for the benefit of neighbors. They are usually enforceable only by the landowners involved and their heirs and successors-in-title.
Source: northshorelandalliance.org

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Purchase of Development Rights


The purchase (generally in the form of a conservation easement) of certain real property interests to subdivide, build, and develop a property by a qualified conservation organization (government enti [..]
Source: northshorelandalliance.org

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Purchase and Sale Agreement


 A contract between a buyer and seller for the purchase of real estate, including all of the terms and conditions of the transaction.
Source: northshorelandalliance.org

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Option


 An enforceable agreement by which one party has the legal right to buy certain property at a certain time at a specified price or on certain conditions, to the exclusion of other buyers.
Source: northshorelandalliance.org

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Mortgage Subordination


 When a mortgage holder subordinates a mortgage that precedes conservation easement in time the mortgage holder agrees to allow the easement to be considered as preceding the mortgage in the chain of [..]
Source: northshorelandalliance.org

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Management Agreement


 An agreement entered into by the landowner and the land trust concerning how the property’s natural resources are to be managed in the future.
Source: northshorelandalliance.org


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