What are transferable development rights?
Correct Answer
D) Development capacity movable to another parcel
Why this is correct: Transferable Development Rights (TDRs) are a zoning mechanism that allows the development potential (e.g., density, units) from a "sending" parcel (often preserved land) to be sold and used on a "receiving" parcel. Why the other choices are wrong: 'Rights to build without obtaining any permits' is incorrect; all development still requires permits. 'Rights permitting a use the zoning prohibits' describes a variance or conditional use permit. 'Rights the local authority may revoke at will' is false; TDRs are typically a property right that, once transferred, cannot be unilaterally revoked. Exam tip: In a TDR program, clearly state whether the appraised interest includes the development rights or not, as this significantly impacts value.
Why This Is the Correct Answer
Why this is correct: Transferable Development Rights (TDRs) are a zoning mechanism that allows the development potential (e.g., density, units) from a "sending" parcel (often preserved land) to be sold and used on a "receiving" parcel. Why the other choices are wrong: 'Rights to build without obtaining any permits' is incorrect; all development still requires permits. 'Rights permitting a use the zoning prohibits' describes a variance or conditional use permit. 'Rights the local authority may revoke at will' is false; TDRs are typically a property right that, once transferred, cannot be unilaterally revoked. Exam tip: In a TDR program, clearly state whether the appraised interest includes the development rights or not, as this significantly impacts value.
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