Task
#1
Private
restrictions on real estate are limitations created by land owners or
developers. These limitations can include covenants, conditions, restrictions (CC&Rs), liens, easements, encroachment, and adverse possession.
What
happened in real life for “Private Restriction on Real Estate”?
Most
people usually have to work hard to save money to pay back their mortgage loans
on their houses, but one Florida man do not. Thanks to the “Adverse Possession
law” that allows individuals to acquire title to land they do not own because
they have openly possessed it for a statutory period of time.
Barbosa
is living in the mansion for free. The law states that someone can move in to
an empty home and claim the title as long as they stay for 7 years, pay
property taxes and hope the owner forgets about the home.
Task
#2
Public
restrictions on real estate are encumbrances created by a public authority. These public restrictions on real estate include property tax, power
of eminent domain, police power, the comprehensive general plan, zoning, building
codes, subdivision regulations , and escheat.
What happened
in real life for “Public Restriction on Real Estate”?
One
day, government bulldozers showed up on Virginia resident Dale Swanson's yard
attempting to take back some property that had been in her family for 200
years, citing the power of eminent domain.
Government
can acquire property for public use by the law called eminent domain that can
let government has a power to get in and take the land they want. However,
after they began construction, they abandoned her yard, leaving thousands of
dollars of damages. In that situation, landowner can sue for just compensation
if he/she feels land value has decreased due to a government action.
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