This information is provided to you as a service to help you during your real estate transaction or dealings. The Glossary of Terms we use consists of definitions from all over the United States. PLEASE, ALWAYS verify your understanding of any term listed here to be valid in it\'s use within any conversation, Sale or Purchase Agreement, Adendum to the contract, Escrow Instructions, addition or changes to any Ecrow Instructions, Title Policy, Appriasal or any other report used during the process of any Real Estate transaction.

ZERO COUPON MORTGAGE
Long term commercial financing where all principal and interest payments are defered until maturity.

ZERO LOT LINE
A zoning regulation which allows certain properties to have buildings placed up to the line dividing separate properties.

ZONE
An area of a municipality to which certain rules, regulations, bylaws or ordinances apply.

ZONING BYLAW
1) A rule passed by the local government which regulates the use of property according to its location within the municipality, placement of structures on the property, maximum floor area, minimum lot area, minimum floor-to-lot area ratios, etc.
2) Exercise of police power of city in regulating and controlling the character or use of property.

ZONING VARIANCE
A one-time modification of existing zoning law.