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Updated almost 13 years ago on . Most recent reply
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Title Seasoning/ Deed Restrictions similar for investors?
Title Seasoning and Deed Restrictions, at least as investing are concerned seem similar to me, I would appreciate some clarification.
Deed Restriction- Unable to convey the property for X amount of time E.g. Bank of America Deed Restrictions are 60 days im fairly certain
Title Seasoning- requires the investor to keep the title/property for X amount of time
I realize sometimes with Deed Restrictions, they are put in place by the subdivision developers. It doesn't always have to do with REOs.
For investment purposes it seems the two are similar, thanks for stopping by.
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2 cents more....And deed restrictions can be made so long as the restriction does not violate law. A seller can set aside a property to be used as a public park for example and say that if it is ever changed from that use it is to be transferred to some beneficiary. In the old days, you'd seem some abstracts that limited future ownership to whites only. Today, those restrictions are illegal under Fair Housing and may not be enforced.
A common deed restriction is an easement for utility services.