Definition of "Bylaws"
Regulatory rules that have to be followed by the organization in conducting its activities.
Popular Real Estate Terms
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Space that is available to all tenants or owners, such as a courtyard, main entrance, elevator, and pool. ...
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A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
Statue designed to protect lenders if a seller secretly sells substantially all of the business property. The objective of the law is to safeguard against defrauding creditors. ...
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The right to allow livestock to graze on a certain range or grazing lands. Grazing rights can be obtained through a lease or by contractual agreement stipulating the period of time and the ...
Comments for Bylaws
I purchased a lot in a community that has a restriction one breaking up partials of land that I wasn't aware of. What are my options now? and what am I liable for?
Oct 30, 2018 16:30:48Ed, we suggest you talk with a real estate lawyer. Maybe the laws of your city do require that the home seller discloses that information and, if that's the case, maybe you can have the money back or make him/her responsible for whatever fees should that be the case. But find a LOCAL real estate lawyer to better inform you. Good luck!
Oct 30, 2018 16:35:52Who is bound by real estate community restrictions, buyer or seller?
Oct 30, 2018 10:33:43Hey Ed,
Anyone who lives within that community is bound by its restrictions, so, in a way, both. Once the seller leaves the community he or she is no longer bound to those restrictions. Once the buyer becomes a resident, he or she becomes bound by its restrictions.
Oct 30, 2018 15:13:06Have a question or comment?
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