GLOSSARY OF TERMS - Z
|ZERO COUPON BONDS: |
A single-payment bond that grows to its face value over a prescribed time period at a specific interest rate. All compound interest is tax-deferred until the bond is cashed.
Refers to properties that have maximum debt placed on them after completing a 1031 exchange. The purpose of the zero is to free cash after completing a 1031 exchange for other uses.
A portion of a building controlled by one thermostat. In air conditioning design, zones are created to maximize environmental comfort by grouping together area with similar conditions, i.e. all exterior offices with a western exposure would constitute a zone.
The regulation of structures and uses of property within designated districts or zone. Zoning regulates and affects such things as use of the land, lot sizes, types of structure permitted, building heights, setbacks and density (the ratio of land area to improvement area).
|ZONING ORDINANCE: |
An exercise of police power by a municipality to regulate and control the character and use of property.
|ZONING VARIANCE: |
A zoning variance permits a change in the specifications required by the zoning ordinance.
This Glossary of Commercial Real Estate Terms is provided for general understanding purposes. Readers should consult with their legal and/or accounting professionals for specific situations and questions. TM 1031 Exchange Inc. and its employees provide neither legal nor accounting services or advice.