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 Dear George: I am under contract to purchase a piece of unplatted land not within city limits but in extra-territorial jurisdiction. Looking at the transfer of this property, there are no restrictions to speak of, either mentioned or recorded. However, the current owner and the owner of the neighboring track have created a list of restrictions and exceptions to the deed to be imposed at the time of sale; this "Exhibit B" is being included in our closing papers. I was properly notified of these restrictions, but I thought they were deed restrictions from the a previous sale. Can anyone originate deed restrictions to a property? Also, if I subdivide this property later, do those deed restrictions travel with each parcel as a matter of permanent record?
Answer: Deed restrictions are a contract between the parties that agree to them. Their interpretation and enforcement is one of pure contract law. If they recite that the restrictions are covenants running with the land, or are "binding on the heirs, successors and assigns" of the parties, they are binding on all future owners. If you want to limit that application, do so when finalizing your transaction and get the agreement of the other parties to limit them.
Dear George: In 1992, I purchased a parcel of land in a subdivision and have paid taxes on it every year. My deed was recorded in 1992. The owner did not register the subdivision in court until 1994. At that time, all lots that were previously sold except mine were corrected to be included in the subdivision. The subdivision owner died in 1997, and the executor of his estate sold the lot that I hold the deed to in 2005. Because I live in another state, I didn't notice the buyer building a house on my property until I went on my annual visit several months later. Do I still own the lot?
Answer: Did you get title insurance? Did the new buyer? Somebody has a quick answer to this at the title company. If you didn't obtain a title insurance policy, contact the lawyer you chose who examined the abstract regarding your property when you bought it. More than likely, if you hold a valid deed and it was properly recorded, you might still own the property. It appears that the executor of the subdivision owner's estate or the title company may have made an error. Have your attorney check this out right away.
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| Dear George: I bought a newly constructed home in 2004 and added a $30,000 in-ground pool. If I were to sell my house now, how much value would the pool add to my home?
Answer: A pool may slightly increase the value of a house if a prospective homebuyer wants a pool. However, the pool doesn't add anything, and may even lessen the value of the home, if a prospective buyer doesn't want it. A homeowner should add an in-ground swimming pool only if he wants a private pool, not as something to increase the home's value. Pools reduce the number of prospective homebuyers, because not everyone wants a pool. It may take longer to market a home with a pool, and prospective homebuyers will also need to consider the problems they will face when and if they decide to resell the home. For more on this topic, check out this edition of the Wall Street Journal's Real Estate Journal.
Dear George: If a spouse dies without a will, does the home go to the surviving spouse or does have go to the children?
Answer: When a spouse dies without a will he is referred to as dying "intestate." Texas is a community property state. There are specific laws in Texas that determine the distribution of community property. The Texas intestate succession table of a surviving spouse with a child or children is that all surviving descendants of the decedent are also descendants of the surviving spouse, and if the home is community property it goes 100% to the surviving spouse. However, the rules are different if there are children outside of the marriage. Since there are many variables that might apply and there can be glitches in proving community property, hire an attorney to offer professional advice regarding your situation.
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