What Should You Check?
Although a shipping container home may not seem like such a complicated thing to achieve, there are some restrictions you need to know about. Deed restrictions or Restrictive Covenants, as they are also called, concern the deeds regarding a particular property.
They are created so that property owners build structures in a way that will make a neighborhood or area look uniform and aesthetic. They are meant to protect the values of a specific property by not allowing chaotic structure building in the area.
So, even if the property is yours, you can’t do anything you want on it.
Deed restrictions and HOA rules go in the same direction, but have different roots
These deed restrictions could be similar or coincide with the rules of the Homeowners’ Association or HOA. However, it is worth mentioning that they are two different things, in spite of the similarities that may appear.
You will have to check both the deed restrictions and HOA rules if you want to make sure you’re within the right boundaries. It is important to know that deed restrictions have a permanent character.
They cannot be removed unless there’s a court order stating this aspect. HOA rules are, on the other hand, more flexible. They can be voted by the members of the HOA and changed accordingly if there’s a majority of votes for the change.
Deed restrictions are fixed, while HOA rules can be changed in some circumstances
Another important aspect of the deed restrictions is that they do not fall under the enforcement of the government, but are more private agreements.
They can concern the use of the property, lease, and architectural reviews with a mandatory nature. The HOA rules usually come in agreement with the deed restrictions and enforce them, even in the court of law when necessary.
Still, the owners of nearby properties can do the same, if they consider necessary. As long as they are legal, deed restrictions can regard almost any aspect of the property. Having this in mind, it is definitely worth checking the deed restrictions for your property before you even consider a shipping container home or any other kind of home.
This will save you time and money spent on designing a project and will eliminate the risks for the project not to comply with the local deed restrictions or HOA rules.
Require assistance from a reliable lawyer
The recommendation is to hire a lawyer that knows the real estate market in your area and is familiar with the rules and restrictions.
This should be the first step you make before you even attempt buying a property, as it will save you from any troubles. The lawyer will check to see what the restrictions are and how a property can be used.
So, you will get to see if a property fits your requirements and plans before you invest in it. Deed restrictions are not a secret and will be revealed during a property purchasing process.
They will be featured in the company title and you’ll have to read them all carefully. You will need to see if any of these deed restrictions will interfere with your desire to have a shipping container home.