Any separate lot, the title of which was of record at the time of the adoption of this Title, that does not meet the requirements of this Title for yards, courts or other area of open space, may be utilized for single residence purpose; provided, the requirements for such yard or court or lot area, width, depth or open space is within seventy five percent (75%) of that required by this Chapter. The purpose of this provision is to permit utilization of recorded lots which lack adequate width or depth as long as reasonable living standards can be provided. (1965 Code § 11-2-8)