Private Restrictions on Ownership

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Chapter 3

• Private Restrictions on Ownership

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Encumbrances

• Restrictions or limitations on the owners
  ability to use a property.

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Covenants, Conditions, and Restrictions (CCRs)

• Private encumbrances that limit the way a
  property owner can use a property
• Recorded in public record
• Enforceable by parties who benefit from the
  limitations
• Generally run with the land

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Liens

• Lien a financial security interest in a
  property.
• Mortgage a pledge of real property as
  collateral for a debt or other obligation
• Mortgagor-borrower
• Mortgagee-lender
• Foreclosure
• Mechanics lien

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Easement

• Right to use a property in a specified manner.
• Types of Easements
• Easement Appurtenant
• Easement in gross
• Creation of Easements by
• Express grant or reservation
• Implication
• Prescription
• Termination of Easements by
• Agreement
• Merger
• Abandonment

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Figure 3.1
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Figure 3.2
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Figure 3.3
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Licenses and Profits

• License a revocable personal privilege to use
  land for a particular purpose
• Profit - profit a prende a non-possessory
  interest that permits the holder to remove
  specified resources from the land

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Conservation Easement

• A negative easement that prevents rather than
  provides a right to use a property in a specified
  manner
• Increasingly used for historical preservation or
  environmental protection

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Adverse Possession

• Process by which title to land is transferred
  from its legal owner to someone who openly
  possesses the land for a statutory time period
  without the permission of the owner.
• Requirements to obtain title by adverse
  possession
• Actual and exclusive
• Open and notorious
• Hostile
• Continuous
• Under a claim of right
• Statutory period

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Other Issues

• Encroachment an unauthorized invasion or
  intrusion of a fixture, building, or other
  improvement onto another owners property.
• Restrictive Covenants, also called deed
  restrictions, are promises made by a landowner or
  previous landowner that the land will or will not
  be used in certain ways.
• See Real Estate Today Feature Meadow Brook Ranch
  Use Covenants
• See Real Estate Today Feature Validity of
  Restrictive Covenants