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Proposed changes New York is currently the only state that does not accept title insurance for government land purchases. The state attorney generals office requires a perfect title for acquisitions and conservation easements, even if the lands ownership history dates back centuries.
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.
Montana automatically declares these as real property once they are permanently affixed, but the government requires the de-titling paperwork. You also get a lot of spec homes on dirt roads with private road easements and no recorded road agreement, which can create issues.”
Buyer representation becomes mainstream The dramatic volume of lawsuits filed by aggrieved buyers highlighted the urgent need for change—a need our government in all of its infinite wisdom (sarcasm intended) failed to address at the time. These are areas where professional expertise is not just beneficial but essential.
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.
Scenarios Necessitating Appraisers as Expert Witnesses: Property Disputes : Appraisers are crucial in resolving boundary disagreements, easement issues, or broader disputes over property rights. Eminent Domain Cases : When government entities acquire private land for public use, appraisers determine just compensation for property owners.
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.
Learn about roads, easements, and property rights: Consider spending the afternoon or night on the land that’s for sale, if possible. Learn about easement rights and road access. Do you want your rights to that road governed by a simple handshake or do you want to ensure solid legal ground?
EASEMENTS: An irrevocable right to use some part of another person’s real property for a particular purpose. Most easements are routine, in which a utility company needs access to the property to maintain service of its electricity, water or internet.
Remember; headwalls, culverts, swales and similar systems likely have easements in place for maintenance. With all of the building, the amount of "impervious surface area" is closely watched by governing municipalities. Be aware of street drains; where do they lead, where do they dump the water? Down and away. Down and away.
Tax appraised value This is the value of real or personal property based on the valuation established by a government tax assessor. Market assessed value This is the price the government tax assessor estimates the property would sell for on the open market as of the effective date for the assessed value for the year in question.
” “I have a life long time in agriculture and worked at a title company, giving me a good understanding of legal descriptions and easements.” Also, I have appraised multiple airports and done various easement studies for research.” ” “Background in landscape architecture and real estate sales.”
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.
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.
However, building on raw land, on the other hand, only requires approval from the local county and municipal governments. It is important to know if your plans for the property will conflict with existing zoning restrictions and if there are conservation easements that could restrict the use of the property.
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