Public Restrictions on Ownership 9/13/12

Public restrictions are created by the Government. Such restrictions include: Taxation, eminent domain, police power, and escheat. 
It makes perfect sense that the amount of tax you will pay is based on a percent of the value of the property. What I didn't know was that there were lower tax burdens for people such as the elderly or disabled. http://cms.oregon.gov/dor/ptd/docs/310-676.pdf 
This is a document explaining the exemptions available to disabled verterans and what qualifies you for these exemptions. One point in this document that I found interesting was that the exemption will increase by 3 percent each year, and it applies not only to the home itsself, but also to their personal property.

The government is able to acquire properties for public use using just compensation and inverse condemnation. 

An example of just compensation that majority of people recognize quickly is the new Cowboys Stadium in Arlington, Texas. http://www.wfaa.com/news/local/64582162.html This is an iconic feature to Arlington and of course it didn't happen without some families resisting. If I were put in this type of situation, it would be hard for me to give my home up also. I think this is an area that could be a little bit controversial since people are being forced to move whether they want to or not. 

Inverse condemnation is another instance in which money could be received.  http://www.opposingviews.com/i/politics/17-million-judgment-tossed-texas-oil-case
This is a case that occurred in Houston, Texas due to oil drilling. These people felt that their property had been damaged because of it and were looking to be reimbursed. It wasn't looking like it was going to hold up in their favor at first, but once the Supreme Court got a chance to review it, things turned around for the better. 

Private Restrictions on Ownership 9/13/12

Private restrictions on real estate ownership includes: covenants/conditions/restrictions, liens, easements, profit a prendre, adverse possession, and encroachments. 

One topic that I found interesting was dealing with Specific Liens on foreclosures.
 I had no idea that people could get foreclosed homes so cheap, and that they were auctioned off at the county courthouse. Once I discovered that the money made at the auction was made to settle the debt from that home, then it made much more sense why they went so cheap. 


http://www.auction.com/Texas/All-auctions.html?s_kwcid=TC|25062|foreclosure%20listings||S|b|13678609569&gclid=CKzz_caxsbICFWRgTAodzxgAzg
Its amazing to see just how many houses have been foreclosed on. With sites like this one above, its so simple to find several houses that have been victims within your area. I'm still in shock at some of the starting bids being asked on some really nice homes, but if people can't afford the payments to live in a house, then it makes sense to foreclose even though its an awful situation for any person to be put in. 

Another area that I took interest to was adverse possession. It never occurred to me that someone could acquire the title to land if they have possessed it for a given period of time. http://www.youtube.com/watch?feature=endscreen&NR=1&v=MVr6n80zsk4
It would never cross my mind to move in to a vacant home like this family did. For other real estate owners surrounding homes like this one, I would be upset like most people since these "squatters" didn't earn the house by making any payments. I don't believe its fair in any situation. 

Property Rights and Legal Descriptions 9/11/12

There are several different aspects that fall under property rights. When you have real property, your rights will be stated in the lease. Not only are there rights to the land its self, but there are also air, mineral, and water rights to consider as well, which may or may not be the same owner of the land. Real property will also have estates in land, freehold and leasehold. Actual ownership falls under freehold estates. When property is owned by another person and you have the right to use and possess it, this is the leasehold estate.
http://www.foxbusiness.com/personal-finance/2012/08/24/how-will-fracking-affect-your-property-value-and-mortgage/
This article describes some of the obstacles that you could face when dealing with mineral rights. Unfortunately for some people, the extraction of these minerals was causing damange to certain properties and decreasing their values. Compensation is an option when dealing with cases like these.

Legal descriptions are what will describe all of the specific boundaries of your property. Without these, nobody would have clear understanding of where exactly their property began and ended.
http://homebuying.about.com/od/glossaryl/g/Legal-Description.htm
This site gives a brief description on what legal descriptions are.

The Importance of Real Estate 9/11/12

Real Estate is something that we are around every day ranging from staying home, going to work, or going to the grocery store. We need real estate in our daily lives to keep things running.
Since I am from the DFW area, I found this article about Fort Worth to be interesting. It tells how it has evolved over time and why it is so important to the economy of Texas. http://www.viprealtyinfo.com/fort-worth-real-estate.php .I love seeing that the city I plan to move back to after graduation does so much for the state of Texas. I had no idea it played such a large role.
Finding the type of real estate you need has been made so simple because of the internet. This site allows you to look up serveral different catergories of real estate in the Dallas-Fort Worth area. http://www.dallasnews.com/real-estate/ .

About Me

My name is Ashley Byers and I am from Arlington, Texas.

 I am a part of the Fightin' Texas Aggie class of 2013 and am a Finance major.

One of my hobbies is cooking, and if Texas A&M wound up not working out, my plan was to attend Culinary school. Luckily A&M has worked out perfectly! I am a huge family person, especially when it comes to spending time with my dad. He means everything to me! One main interest that we share is watching sports together, especially baseball!