Terms Used In New York Laws > General Municipal > Article 5-K - Historic Preservation

• Bequest: Property gifted by will.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Development rights: means the rights granted to a lot or parcel of land under a zoning ordinance or local law respecting permissible use, area, bulk or height of improvements executed thereon. See N.Y. General Municipal Law 119-BB
• Devise: To gift property by will.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Historic preservation: means , for the purposes of this article and notwithstanding any other provision of law, the study, designation, protection, restoration, rehabilitation and use of buildings, structures, districts, areas, sites or objects significant in the history, architecture, archeology or culture of this state, its communities, or the nation. See N.Y. General Municipal Law 119-BB
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Registered property: means any historic place or property within the boundaries of the state nominated by the commissioner of parks and recreation for listing on the national register of historic places or listed on the New York state register of historic places established pursuant to § 14. See N.Y. General Municipal Law 119-BB
• Transfer of development rights: means the process by which development rights are passed from one lot or parcel to another. See N.Y. General Municipal Law 119-BB