Glossary of Terms
Following are mortgage and real estate related terms and definitions you may find helpful.
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Zoning Ordinance: The division of land into residential, commercial, industrial and rural districts.
Zoning laws, which came about in the 1920s, serve to protect the public’s safety. Zoning laws restrict the size of a lot, a building’s height and how a property can be used. In general, a residential zone is broken down into single-family, multifamily and mobile home districts. Commercial areas are divided into retail, office and wholesale space.
