Task #1 - Real Estate vs. Real Property
1. Real estate is defined as a land plus any permanent attachments or fixtures such as buildings, housing, or natural resources. Real property is similar, but also includes intangible legal rights and interests that come with the property.
2. Below is a link to an article that discusses a legal dispute between a property owner and the local government over his real property rights to build a dock over an abutting body of water along his property. The city passed an ordinance which forbids the right to build a dock in order to protect "seagrass" which they claim is "an invaluable natural resource".
http://www.cato.org/blog/yes-florida-constitution-protects-property-rights
Task #2- Private Restrictions on Real Estate
1. Private restrictions in real estate, also called " private encumbrances", are restrictions on the fee simple ownership rights that generally run with the land. There are many types of private encumbrances such as CC & R's, liens, easements, profit a prendre, adverse possession, and encroachments. For example, a deed restriction would be considered part of covenants, conditions, and restrictions (CC & R's) which limits the way a property owner can use his or her property.
2. Below is a link to an article describing a legal dispute concerning private restrictions on real estate between preservationists and a developer named Tistar Capital over the right to build a retail center in the courtyard of a historic community church. The preservationists argue that the building would not only block views of the church, but would be built in a courtyard that should remain open due to a 1920 deed restriction.
http://www.miamiherald.com/news/local/community/miami-dade/miami-beach/article3510703.html
Task #3- Public Restrictions on Real Estate
1. Public restrictions on real estate are limitations on the ownership of real estate which are created through the government's power of taxation, eminent domain, police powers, and escheat. For example, in order to protect the health, safety, morals and general welfare of the public (police powers), the government is given the power of regulation which can be used to create residential, commercial, and industrial zoning laws and building codes.
2. Below is a link to an article discussing how Houston, Texas is the only major U.S. city without a formal zoning code. The article states that Houston's separation of land uses is driven by economic forces instead of mandatory zoning which has lead Houston to be noticeably similar to many other major cities, despite the absence of zoning regulations.
http://www.businessweek.com/the_thread/hotproperty/archives/2007/10/how_houston_gets_along_without_zoning.html
