Variance real estate is awaiver for a zoning regulation,granted on a case-by-case basis for specific requests. Once a zoning variance is granted,it runs with the land. It means that,if a requested real estate variance is granted,it will stay in place,even if the property changes hands.
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What is variance in commercial real estate?
– Commercial Real Estate Dictionary What is variance? What types of variance are there? What is area variance? What is use variance? What is variance? In real estate, a variance is an official exception/dispensation from a rule or regulation.
Why do I need a zoning variance in real estate?
Why Do I Need a Variance in Real Estate? 1 Non-Conforming Structure. A non-conforming structure once was within zoning laws, but now is not. … 2 Setback. A setback refers to the distance a structure is from the property line, and you need a variance if that building is too close. 3 Difference Between Area and Use. …
What is the process of getting a variance for a property?
As with most bureaucratic endeavors, local rules will vary from municipality to municipality, but generally, the process of getting a variance begins with a variance letter. This can be written by you as the property owner or by your attorney.
What is an area variance?
Area variance is an authorization to use the land in a way that is not allowed or severely hindered by dimensional and/or physical requirements of the zoning regulations in place. Area variances are more common and more easily approved.