Foreclosure of Subdivision Reserved Area - Posted by Tarheel T(NC)

Posted by Drew on September 04, 2005 at 23:44:19:

Well, maybe not for the other Buckhead residents.

BTW, my “dream house” is on West Paces Ferry Rd. Although truth be told, having never known such opulence, I am not sure I would really be comfortable there even if I could afford it.

I keep hearing about how Peachtree City homeowners are getting nervous about a potential Delta BK.

Random thoughts.

Best,

Drew

Foreclosure of Subdivision Reserved Area - Posted by Tarheel T(NC)

Posted by Tarheel T(NC) on September 03, 2005 at 07:15:15:

Scenario: A subdivider sets aside a reserved area on the plat of his subdivision, he then sells all the lots but retains ownership of this reserved area, and years later this reserved area is foreclosed on by the county for non payment of ad valorem taxes. This is in NC.

Question: Does this tax sale foreclose away the restriction on the lot being a reserved area? Can it now be developed?

My atty. is researching this but in the mean time, I want to see if anyone here has ever seen this situation.

Thanks,
TT

Re: Foreclosure of Subdivision Reserved Area - Posted by Jack

Posted by Jack on September 03, 2005 at 22:04:00:

They covenants survive the sale where I live. But, I think it might vary by State.

Appreciate the Responses n/t - Posted by Tarheel T

Posted by Tarheel T on September 03, 2005 at 20:56:15:

n/t

Re: Foreclosure of Subdivision Reserved Area - Posted by lukeNC

Posted by lukeNC on September 03, 2005 at 19:04:25:

The restrictions definitely survive the sale.
I bought a nice plot of land at tax sale in Cleveland County like this some years ago…extremely cheap, but utterly worthless, for now because of restrictions in the subdivision.

Restrictions will survive the sale - Posted by JT-IN

Posted by JT-IN on September 03, 2005 at 16:19:27:

TT:

Just like KJ mentioned, the only thing that will change here is the owner, not any elimination of rights and covenants… unless that adjoining owner deeds those rights away. That also may take a high percentage of continguous owners approval. Likely 75%, and maybe all continguous owners.

So it isn’t likely to happen… IMO.

You may also remember the investor / develoiper in FL, back in July, 2002, who bought the lake which provided the view to the adjacent homeowners…? Here is the link… I belive that the Prosecutor nearly ran that ole boy out of town on a rail… I wouldn’t suggest emulating his trek…

http://www.realestatejournal.com/buysell/regionalnews/20020705-perez.html

JT-IN

Re: Foreclosure of Subdivision Reserved Area - Posted by Killer Joe

Posted by Killer Joe on September 03, 2005 at 10:10:59:

TT,

I own a property in a subdivision that is controlled by covenants put in place when the master parcel was subdivided. I bought it at a tax action. It was owned by the developer. All the covenants survive. The only thing that changed about the property was the owner.

See if you can get a copy of the CC&Rs, it will, or should, spell out what that land can be used for. Depending on how ‘tight’ the neighborhood is you may face some resisitance from the other owners if you try to circumvent the restrictions and develop the property. After all, when they bought into the subdivision the restrictions on that land may have had an impact on their evaluation of the subdivision. HTH

KJ

Re: Foreclosure of Subdivision Reserved Area - Posted by michaela-ATL

Posted by michaela-ATL on September 03, 2005 at 12:12:35:

KJ,

of course you and he could always built a big bright pink fence on the property and have the neighborhood pay you to take it down :wink:

Michaela

Like the lake in FL recently - Posted by JT-IN

Posted by JT-IN on September 03, 2005 at 16:15:04:

And the buyer at tax sale of the lake, ended up re-thinking his plan to erect the fence. The social heat simply just wasn’t worth it. He tried to sell the lake view back to each homeowner for 30K a pop… but was literally drummed out of town by the Prosecutor, if I remember correctly.

Here is th link to the story, back in July, 2002:

http://www.realestatejournal.com/buysell/regionalnews/20020705-perez.html

Re: Foreclosure of Subdivision Reserved Area - Posted by KJ

Posted by KJ on September 03, 2005 at 12:32:28:

A friend of mines brother in the early 80s got so POed at his neighbors that he painted the trimwork and every window and door on his house a different bright horrible color. The house sat on a hill and you could see it for miles. I saw it from the resturant window my friend and I were eating lunch at. What a great way to make enemies…

KJ

Re: Like the lake in FL recently - Posted by michaela-ATL

Posted by michaela-ATL on September 03, 2005 at 18:20:20:

JT,

yeah, I know, that I why I wrote that. I could never imagine doing anything like that. It’s extortion, isn’t it? But it certainly stayed in my memory

Michaela

Re: Foreclosure of Subdivision Reserved Area - Posted by michaela-ATL

Posted by michaela-ATL on September 03, 2005 at 12:36:54:

Actually,

there’s an Atlanta Suburb, where someone had bought a house with 5 acres. All around him are high end houses with smaller lots. He was going to subdivide and build another house, but was told that his property is zone ‘agricultural’ and he could nto subdivide and build.
In retaliation, he painted his house bright barn orange and another color trim (I think it was turqoise). Brought it goats and pigs and made it a farm. He was on the news a couple of weeks ago.

Michaela

It gets better - Posted by Marc Donovan

Posted by Marc Donovan on September 05, 2005 at 13:27:22:

http://www.sptimes.com/2002/05/15/TampaBay/Who_has_rights_to_sub.shtml

We were deeply saddened when we saw this guys obituary in the same paper.

Wasn’t Buckhead, was it? (NT) - Posted by Drew

Posted by Drew on September 04, 2005 at 17:15:28:

nt

Re: Foreclosure of Subdivision Reserved Area - Posted by Jack

Posted by Jack on September 03, 2005 at 22:00:53:

i like

Re: Wasn’t Buckhead, was it? (NT) - Posted by michaela-ATL

Posted by michaela-ATL on September 04, 2005 at 17:18:43:

roflmao - a farm in buckhead? Oh, boy, that would have gotten some forces mobilized!!! No, I think that was somewhere in cobb or Alpharetta

Michaela