A licensee is working with a buyer named Sofia who is under contract to purchase a 12-lot subdivision parcel in a rural Vermont town. The seller claims no special state permits are needed because the project has not yet started construction. Sofia asks her licensee whether any Vermont-specific land use review is required. Which of the following statements best describes the licensee's correct advice?
Correct Answer
A) An Act 250 permit is required before development proceeds because the subdivision creates 10 or more lots, regardless of construction status.
Under Vermont Act 250 (10 V.S.A. Chapter 151), a land use permit is required before development proceeds for any subdivision creating 10 or more lots. The permit requirement is triggered by the number of lots, not by whether construction has started. The seller's claim that no permit is needed because construction has not begun is incorrect, and the licensee must advise Sofia accordingly.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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