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The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President. Theodore Roosevelt, one of the nation’s original land protectionists, embodied the power and beauty of a conservation easement in the following quote: “Here is your country.
In fact, our industry is so important that throughout the COVID-19 pandemic, title insurance professionals were deemed essential by the federal government. The capital markets depend on the due diligence, transparency, and protection our industry provides to do its job.
Accurate Survey Why It Matters: A current and accurate survey highlights property boundaries, easements, and encroachmentsall of which can affect a propertys value. For example, a shared driveway easement or an encroachment by a neighboring structure can impact marketability and appraised value.
If an association board still wanted to require such vaccine passports, we would suggest that it would need to at a minimum amend its governing documents, with a full vote of the membership in the community, as a board vote would have to be “reasonable” and many would consider such a passport requirement as unreasonable.
The June 1, 2024 effective date was intended to provide advance notice to accommodate lenders’ and servicers’ internal governance processes. Instead, they can have rights to it via an easement agreement until 2153—an arrangement that protects the house from developers. But when you go inside, it’s just a fun surprise.
There could be easements put in place since the original sale, either by contract or adverse prescription (right of way for utilities). Lender’s title insurance reduces the financial risk consumers face through these warranties they make to the lender, investors and the federal government.
However, building on raw land, on the other hand, only requires approval from the local county and municipal governments. A detailed list of anything you feel you are buying needs to be a part of the contract. Real estate developments in cities and metro areas need to go through a rigid approval process.
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