THE "TAKINGS" , HISTORIC OVER-REACH

Blog Post Image
Real Estate

 

The acquisition of a property by a local, state or government condemnation process is a life changing event for a property owner. A governmental agency legally will indeed  "take" your property for the common good, with just and fair compensation.  To the property owner, their property and the covenants of their warranty have been disavowed. The property owner also loses the control of one of the biggest investments of their lifetime.

Specifically, address "Covenant of Seisin", meaning that a property owner has the legal right to convey it. Also note, the "Covenant of Quiet Enjoyment", the property owner is granted that the title will be good against third parties wanting to establish title to the property.  These are among the covenant or rights as noted in a General Warranty Deed.

The "taking" of anybody's property is a serious consequence for an owner.  It should never be arbitrary or based upon an opinion of an entity. If there is a strong debate for or against against a "taking", that should send a clear message that it isn't 100 percent favored or not by any party.

In reviewing the current debate over preserving historical structures, we realize that anything over 50 years old, according to the National Register of Historic Places, is considered "historical" and is eligible for an historic designation.  Whether a property qualifies for that status, there is criteria outlined that it must meet. It is of my opinion, that nobody but the owner should ever be entitled to have the right to apply for a historic designation on a property. 

At Historic Denver Homes and Land Real Estate, there is nothing we love more than the old homes.  One would assume, that the current owner of that old home values its distinction as well.  We believe that there are instances that a property is not suitable for costly interior and exterior repairs which are needed to maintain its structural utility.  If a property owner decides to move on, they shouldn't be held hostage to anybody's opinion of significance to be turned into something it currently isn't.

I believe clearly in the ownership rights of a property and the bundle of property rights conveyed to them. If in fact the home is of great historic significant to an individual, group, entity, etc., they certainly have their own rights to purchase it.