The term residential property refers to a single-family home that was constructed before July 1, 1991. This definition also includes the land on which the home is situated, along with any additional buildings that are necessary for the owner's use and occupancy of the dwelling. The specific area of land is designated by the Secretary as essential for the homeowner's continued enjoyment of the property.
Residential property is a term commonly used in various legal contexts, including real estate law, property law, and zoning regulations. It is particularly relevant in cases involving property ownership, tax assessments, and eligibility for certain government programs. Users can manage some related legal processes themselves using templates available through US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
Example 1: A homeowner has a single-family house built in 1985. The property includes a small garage and a yard, all of which are necessary for the homeowner's daily life. This qualifies as residential property.
Example 2: A person inherits a home built in 1990 along with the surrounding land. They can continue to live there and use the property as their residence. (hypothetical example)
The primary statute defining residential property is 16 USCS § 410x-2, which outlines the criteria for what constitutes residential property in the context of conservation and land use.
| State | Definition Variations |
|---|---|
| California | May have additional regulations regarding multi-family dwellings. |
| Texas | Includes specific provisions for manufactured homes as residential properties. |
| Florida | Has unique zoning laws affecting residential property classifications. |
This is not a complete list. State laws vary and users should consult local rules for specific guidance.
| Term | Definition |
|---|---|
| Commercial Property | Property used primarily for business purposes, unlike residential property which is for living. |
| Real Estate | A broader term that includes all types of property, both residential and commercial. |
If you own or are considering purchasing a residential property, ensure that it meets the criteria outlined above. You may want to explore US Legal Forms for templates related to property transactions, leases, or other legal documents. If your situation is complex, seeking advice from a legal professional is recommended.
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Residential property is defined as a single-family dwelling built before July 1, 1991, along with the necessary land and buildings.