What is entitlement?
Governmental approvals (zoning, variances, permits, environmental clearance) that allow a project to be built as designed. Often the riskiest stage, since approval is not guaranteed and denial can kill the deal.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.