Newsletters

Restrictive Covenants

Restrictive covenants are deed provisions that set forth a unique set of rules applicable to given properties. Often the original builder or developer implements the restrictive covenants when a neighborhood is first developed. Generally speaking, the purpose of restrictive covenants is to ensure a standardized appearance for a specific area. Another purpose of restrictive covenants is to control specified activities within the area.

Adjustable Rate Mortgages

Delilah was very happy when she received her pre-approval notification for a mortgage loan. In fact, her lender pre-approved her for $25,000 more than she needed to purchase her first home. Delilah is now in the process of finalizing the details with the lender before the settlement on her home. The lender has offered her a fixed rate mortgage as well as an adjustable rate mortgage.

The Historic Homeowner -- Historic Designations

It is important to us to remember our history by preserving the past. Historic designations on the federal, state, and local levels serve as an important mechanism for identifying our historic resources.

Common Areas

With various forms of property ownership, including condominiums and timeshares, property owners become liable for common area maintenance fees. Such fees vary widely from property to property. In fact, common area maintenance fees can be quite expensive. Hence, it is an important area of consideration for all property owners and prospective property owners.

The Cooperative Form of Ownership

Under a cooperative form of ownership, a home buyer typically does not obtain title to a particular unit. Instead, title to all of the units in the cooperative is held by a corporation. A home buyer purchases shares of stock in the corporation. Instead of a deed, the home buyer receives a lease for the particular unit.