Transferable Development Rights

Concept of Transferable Development Rights in the context of Real Property

A short definition of Transferable Development Rights: Allowing the assignment of development rights from parcel to parcel. Example: The owner of a parcel on which the zoning allows a maximum of a five story building could buy rights from another parcel and build a ten story building. The parcel transferring the rights would have to decrease its allowable height by the same number.

Concept of Transferable Development Rights in the context of Real Property

A short definition of Transferable Development Rights: Allowing the assignment of development rights from parcel to parcel. Example: The owner of a parcel on which the zoning allows a maximum of a five story building could buy rights from another parcel and build a ten story building. The parcel transferring the rights would have to decrease its allowable height by the same number.