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Private Restrictions on Real Estate

January 30, 2013

A private restriction on real estate is a restriction or limitation placed on a real estate owner’s title by a private entity (an individual, a business, etc).

One example of a private restriction on real estate is adverse selection, which allows individuals to acquire title to real estate they do not own because they have openly possessed it for a statutory period of time. A bizarre dispute involving adverse selection is currently unfolding in Boca Raton, FL, which just so happens to be where I was born. A man has been “squatting” in a $2.5 million mansion, attempting to gain title to the property through Florida’s adverse selection law. The property is owned by Bank of America, which recently foreclosed on the property in July 2012. Shortly after the foreclosure, the man moved into the house and lived there until he was evicted by Palm Beach County last week.

Fox News: Squatter Lives in $2.5M Mansion Citing ‘Adverse Possession’ Law

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