Blog Assignment Two

Private Restrictions on Ownership 

Definition: Private restrictions on ownership are restrictions that are not made by the government, but made by developers. They are also known as encumbrances, which restrict your rights of ownership of your land. These include

• Covenants, conditions, restrictions
• Liens
• Easements
• Profit a prendre
• Adverse possession
• Encroachments 

Article:

I read an article entitled "Brazilian Man Attempting Adverse Possession of 25 Million Boca Mansion."A man has decided to try and use adverse possession in Florida to take control of a $25 million dollar mansion. It was listed as owned by the Bank of America in July 2012, and a man named Andre Barbosa decided to take advantage of that fact and file for adverse possession of the home in the same month. His neighbors and the bank are both displeased with this turn of events, and are trying to ensure that he leaves the premise. A neighbor noted that he turned on the lights but was not using water, which would mean that he was not using the home as a permanent residence, which he hopes will help them with their mission to get this man to leave the million dollar home.


http://abcnews.go.com/Business/brazilian-man-attempting-adverse-possession-25-million-boca/story?id=18303253

Public Restrictions on Ownership

Definition: Public restrictions on ownership are government limitations on the rights of ownership of property. Examples of public restrictions of ownership include

• Taxation
• Eminent Domain
• Police Power 
• Escheat

Article: I read an article called "Does the State Have Your Money." This article talks about an increasing problem of states taking and liquidating escheated properties to produce revenue for the state, without following proper protocol. According to one woman, her mother received a check $16,000 from her Uncle after he passed away, but didn't move to cash it for several years. When she did, she was told it was escheated to the state, though no one had even attempted to contact her about the money before then. The state has been doing the same thing regarding real estate that someone may have forgotten about, preferring to keep the revenue rather than attempt to get ahold of the owners.

http://www.bankrate.com/finance/investing/states-grab-unclaimed-property-1.aspx