Real Estate Information

Protective Covenants - Buying A Home


In addition to zoning, some properties have covenants recorded at the courthouse that "run with the land." These "protective covenants" can put a serious pinch in your plans for a piece of property.

Protective Covenants

A protective covenant remains in effect as the property is sold from owner to owner. The covenants are designed to maintain a certain aspect of the area in question. The covenants may require a particular architectural style or use for the land to mention only a few areas of restriction.

Land in a scenic area may have a protective covenant that prevents certain types of development for the land or properties on it. Importantly, these restrictions may not show up in the zoning laws, so make sure you research the issues before buying. Let's consider an example of a great buy gone wrong because of a protective covenant.

A protective covenant may restrict the number of parcels into which the property can be subdivided. Thus, you could find yourself in a situation in which you buy a one hundred acre parcel with an eye toward subdividing it. Upon researching the issues, you discover the zoning laws allow the parcel to be cut into quarter acre lots. Visions of profit swirl before your eyes. Your development dreams, however, could turn to nightmares if there is a protective covenant.

Assume you go ahead and purchase the parcel. While showing it to a friend, a neighbor from down the road walks up and introduces himself. You excitedly explain you plans for subdividing only to be shocked when he tells you there is a protective covenant that prevents the creation of any lots under ten acres. What if the covenant restricts ANY subdividing of the parcels? That great deal you got on the parcel may not look so hot when the protective covenant is factored in.

So, how should you deal with protective covenants? First, you should ask the seller whether any exists for the property. Second, make sure you buy title insurance as the title company will certainly look for any protective covenants before issuing a policy.

Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.


MORE RESOURCES:

Tampabay.com

In ranks of selling real estate, a scarcity of black Realtors and brokers
Tampabay.com
Last year, African-Americans made up just 4.2 percent of all real estate brokers and agents in the United States. Of the 340 job categories for which the Bureau of Labor Statistics keeps figures, only 32 ranked lower in percentage of black workers ...



Pete Rose -- Gambles On Real Estate .. PAYS OFF HUGE!!
TMZ.com
He may never make it to the Hall of Fame, but Pete Rose just wrapped up a real estate transaction worthy of a plaque ... selling his home for a $1 MILLION PROFIT!!! TMZ Sports has learned ... Charlie Hustle just sold his 5-bedroom home in Sherman Oaks ...



Brazilian Real-Estate Bubble Seen Deflating Without Pop
Bloomberg
Brazil's residential real-estate bubble may deflate slowly, not pop, as speculators abandon the market and builders such as Rossi Residencial SA (RSID3) sell off less profitable homes ahead of more lucrative sales. Prices are leveling off this year ...

and more »


SFGate

Erie real estate lawyer, girlfriend and her 3 children ID'd as plane crash victims
Boulder Daily Camera
Frascona, a prominent Erie real estate lawyer, was flying with 41-year-old Tori Rains-Wedan and her three children, according to the Weld County Coroner. Her children were 15-year-old Mason Wedan and 11-year-old twin brothers, Austin and Hunter.
Erie plane crash victims identified as attorney Oliver Frascona, Tori Rains ...The Denver Channel

all 434 news articles »


Business Today

Real estate in US surging, in India it's slumping: IMF
The American Bazaar
NEW YORK: Are you wondering where to buy that second investment home, figuring out whether to splurge on an apartment in India or the US? Going by the International Monetary Fund (IMF), buying in the US at present will bring good value as real estate ...
How politicians, banks and builders conspire to keep real estate prices highFirstpost
Real estate stocks seem set to recover as the sector tries to come out of the ...Business Today
Indian home prices fell most in 52 nations, IMF saysTimes of India
Hindu Business Line -International Business Times, India Edition
all 7 news articles »


Real estate roundup: See what's available
Suffolk Times
Sometimes the market's up, sometimes the market might be down, but one thing's always for sure: there's always real estate out there to be bought. Each week, sellers advertise some of the real estate they're trying to sell — whether it's a condo ...

and more »


USA TODAY

Zillow CEO: Real estate is the ultimate mobile endeavor
USA TODAY
SAN FRANCISCO — As real estate listings site Zillow heads to a $3.5 billion deal to buy Trulia in 2015, Zillow CEO Spencer Rascoff says the two companies will become part of a media portfolio that will position it for an increasingly mobile world. On ...
On the House: Zillow-Trulia 'merger' may bring big change - or notPhilly.com

all 4 news articles »


It's Your Business: Real estate symposium upcoming at FGCU
Naples Daily News
The Real Estate Investment Society's upcoming symposium will include updates on Fort Myers redevelopment opportunities and development in Cape Coral's veterans investment zone. The half-day workshop is Sept. 12 at Florida Gulf Coast University.

and more »


The Diplomat

China's New Property Registration System: Real Estate Taxes in the Pipeline
The Diplomat
China has recently established a new Bureau of Real Estate Registration as part of its effort to enhance land management regulations. The bureau is charged with drafting and enforcing regulations on land management and property registration, resolving ...

and more »


Virginia farm real estate value increases
WSET
RICHMOND, Va. (AP) - The value of farm real estate in Virginia has increased over the past year. A federal survey shows that the value of land and buildings on farms was an average $4,320 per acre this year. That's up from $4,310 per acre in 2013 ...
Value of farm real estate in Virginia increases to average $4320 per acreGreenfield Daily Reporter

all 5 news articles »

Google News

home | site map | Blog |
Portland Oregon Real Estate Listings | real estate investing | real estate in greece | for sale by owner in atlanta | House for sale: Louisville KY
Exchange Links Here | Links page |

Web Reference - Business Directory - Sitemap   
© 2006