Real Estate Glossary | Biggest Real Estate Web Directory

Zero lot line
A term generally used to describe the positioning of a structure on a lot so that one side rests directly on the lot's boundary line (no set back). Where allowed by zoning and/or deed restrictions, it is used for "patio homes".

Zero Percent Financing
A loan with no interest in the contract. The IRS imputes 10 percent for both borrower and lender.

Zoning
Exercise of police power of city in regulating and controlling the character or use of property. Zoning laws divide cities into different areas according to use, from single-family residences to industrial plants. Zoning ordinances control the size, location, and use of buildings within these different areas. Houston is the largest city in the U.S. without zoning. Most of the other cities and villages within the Houston Metropolitan Area do have zoning regulations.

Zoning ordinance
A set of rules passed by local government which regulates the use of property according to its location within the municipality, placement of structures on the property, maximum floor area, mnimum lot area, minimim floor-to-lot area ratios, etc.

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