Word of the day
A common expression used to convey the idea that something that was once permissible continues to be permissible despite changes in the controlling law. For instance, a developer with prior county planning approval to build on 10,000-square-foot minimum-size lots can be granted the right to build on such lots even if the current zoning regulations are amended to require 12,000-square-foot minimum-size lots. The developer is “grandfathered” under the originally approved subdivision plan. This situation is similar to nonconforming use.
Under state legislation regarding real estate pre-licensing educational requirements, current licensees may be “grandfathered,” or exempted, from such new requirements.
Industry, Residential Real Estate, Education
Library of Real Estate Clauses
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