Tuesday, 24 November 2015

Restrictions on Real Property

There is a vast a ray of public & private restrictions affecting the use of real property ( Restriction on Real Property ).
Public restriction affecting are derived from government powers of police, eminent domain, taxation, and escheat.
Under the police power, zoning laws regulate the type & the form and intensity of land use with respect to land coverage, building height, and building setbacks. Building and housing codes regulate construction and occupancy.
The police power is exercised by an increasing number of government agencies. In one state of the United States a residential development located in an unincorporated area but within three miles or five kilometre of the city limits, with lake and state highway frontage, required approval by eight different city, country, and state agencies.
No compensation is paid an owner adversely affected by the police power. Eminent domain involves the taking of private property for the public welfare and requires payment of just compensation. The public welfare is broad & inclusive and represents the spiritual, physical, aesthetic, and monetary values of the community.
The third power of government is taxation, which reduces the net productivity & value of private property. Escheat is the power of government to acquire the property of one who dies intestate without heirs at law. Private restrictions on land use comprise real covenants, personal covenants between individuals that do not affect grantees and easements.

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