Owning property and it’s legislated bundle of legal rights can become complex when you aren’t aware when your rights are being violated. Once a property survey is done, it might include easements and encroachments which might affect the value of your property. Or, if you’re purchasing a home in a Homeowners Association (HOA), you will be presented with the covenants and restrictions, and most deeds carry covenants on animals and other non-residential uses, make sure you read them carefully. Eminent domain has been a hot topic in 2006, as the Federal Courts have ruled in a new direction that has wide implications for homeowners across the nation.
Covenants. Is an agreement contained in a deed or Homeowners Association to limit or deny certain uses such as barnyard animals, industrial noise or waste. In HOA’s covenants can eliminate motor homes or dictate that garbage cans are hidden from view.
Easements. A right given and assigned to a specific third party to use land for a specific function. Most properties grant easements to utility companies for water, sewer, cable, power and telephone lines. You can also give a neighbor an easement for their driveway to run over your property if theirs is land-locked. Many resort subdivisions grant easements to lake front beaches to homeowners who do not have lake frontage.
Eminent Domain.The power of local, county, state or U.S. Government to condemn and purchase at current market value a property to be used for public use; such as a road, school or hospital. Recent rulings have changed this to include “the highest and best use” for a property, including purchasing a single-family home for re-development as condominiums.
Restrictions. Similar to covenants in that they restrict fence heights or the number of cars you can park overnight outside a garage, the number and type of pets in a HOA or the style and color of alterations to your home.
© Copyright 2006 Mark Nash
Covenants, Easements, Eminent Domain and Restrictions in Real Estate
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