Task 1.
Private restrictions on real estate basically are the limitations on property owners of what they can and cannot do with their property. Common tools used to limit the way a property owner can use a property are covenants, conditions, and restrictions.
Importance of CC&R's in Home Buying
Task 2.
Public restrictions include taxation, eminent domain, police power, and escheat. A common tax includes property tax. Eminent domain is the right of the government to take private property for public use upon the payment of just compensation. Police power is the power to regulate use of private property to protect public health, safety, morals and general welfare. Escheat is the government’s right to acquire ownership of land when the landowner dies without an heir or a valid will.
Deleware Case over Eminent Domain
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