What is a deed restriction?

A deed restriction is a type of legal restriction placed on a property that limits the way a property can be used. In Virginia, this type of restriction is written into a deed when a property is sold or transferred. A deed restriction can limit the type of buildings that can be constructed, the use of the property, and the number of people who can live on the property. It can also place limits on the environmental impact of activities that that take place on the property. In addition, deed restrictions can restrict the type of businesses that can operate on the property and the types of activities they can run. Furthermore, deed restrictions can be used to ensure that a home or building is maintained properly, that certain standards are met, or that the property is taken care of in a certain way. Deed restrictions are legally binding and can be enforced by local governments or associations. If someone violates a deed restriction, they may be subject to fines or other legal action.

Related FAQs

What options do I have if I'm facing foreclosure?
What is the difference between a fixed-rate and an adjustable-rate mortgage?
What is a security deposit in a real estate transaction?
What is a title search and why should I do one?
What taxes are involved in the purchase of a home?
What is a Notice to Quit?
What is the difference between a title search and a title insurance policy?
What is a deed of trust?
What are escrow services?
What is the difference between market value and appraised value?

What is a deed restriction?

Related FAQs

Related Blog Posts