Closings glossary
Zoning lot certificate
A recorded declaration combining tax lots into one zoning lot for development purposes. Waivers and consents from affected owners and lienholders accompany it.
What is a zoning lot certificate?
Quick Answer
The full definition
A recorded declaration combining tax lots into one zoning lot for development purposes. Waivers and consents from affected owners and lienholders accompany it.
Also called: Zoning lot development agreement, ZLDA.
Where does zoning lot certificate come up in a New York City closing?
A Long Island City site assembles four tax lots under a zoning lot development agreement, and every mortgage holder has to subordinate for it to work.
What else should you read before closing?
In the glossary
- BBL (Borough-Block-Lot)The tax lot identifier for a parcel of New York City real property, written as borough, block and lot. Nearly every City record system keys on it r...
- CovenantA recorded promise or restriction that runs with the land and binds future owners. Restrictive covenants limit what the property may be used for or...
- RecordingFiling an instrument with the register or county clerk so it becomes part of the public record. Recording establishes priority against later purcha...
- EasementA right to use part of another owner's property for a specific purpose. Easements appear as exceptions on a title report and generally survive a sa...
- Certificate of Occupancy (C of O)The Department of Buildings document that fixes a building's legal use and occupancy. Lenders and title companies read it to confirm the property c...
Questions this raises
Building types
- New-development condoA first sale from the sponsor of a newly built condominium, governed by an offering plan, often delivered on a temporary certificate of occupancy.
- Mixed-use condo with commercial unitsA condominium holding both residential and commercial units, where the declaration allocates common charges, voting rights and use restrictions bet...
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