Definition of Purchase of development rights (PDR)

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TeachMeFinance.com - explain Purchase of development rights (PDR)



Purchase of development rights (PDR)

The term 'Purchase of development rights (PDR) ' as it applies to the area of agriculture can be defined as ' The acquisition of property development rights through voluntary sale by the landowner to a government agency or land trust. The government agency or land trust acquiring development rights typically restricts future uses of the land to farming or open space'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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