The crazy thing is that you can put your will in regards to property into a covenant on a property title and that will then carries on indefinitely.
If you own a piece of land you should own it, and apart from the laws governing the use of the land you should be able to do with it whatever you want.
It’s kinda crazy that you can put whatever you want into a covenant and thus “poison” that piece of land in perpetuity. HOAs are part of that.
It’s also an issue that’s getting bigger with time. In the 50s most areas were freshly built up from the ground. You don’t like the rules in one neighbourhood? No problem, just buy some of the empty land around it and do what you want.
By now about every piece of somewhat sensible land is owned. There’s not that much completely fresh development in areas where people actually want to live voluntarily anymore.
So most people buy “pre-owned” land. Land with covenants on it. And with covenants often being perpetual, that means more and more land will get poisoned by them.
The crazy thing is that you can put your will in regards to property into a covenant on a property title and that will then carries on indefinitely.
If you own a piece of land you should own it, and apart from the laws governing the use of the land you should be able to do with it whatever you want.
It’s kinda crazy that you can put whatever you want into a covenant and thus “poison” that piece of land in perpetuity. HOAs are part of that.
Definitely.
It takes a special kind of megalomania to believe that just because you paid for a plot of land, that you’re entitled to bind it to your will forever…
It’s also an issue that’s getting bigger with time. In the 50s most areas were freshly built up from the ground. You don’t like the rules in one neighbourhood? No problem, just buy some of the empty land around it and do what you want.
By now about every piece of somewhat sensible land is owned. There’s not that much completely fresh development in areas where people actually want to live voluntarily anymore.
So most people buy “pre-owned” land. Land with covenants on it. And with covenants often being perpetual, that means more and more land will get poisoned by them.