Q:

What are some common property restrictions?

A:

Quick Answer

Property restrictions address concerns relating to the ownership and use of land. States such as Wyoming and Kansas prohibit land ownership by foreign individuals not eligible for U.S citizenship. The restriction ceases to apply when ownership rights are granted by treaty, indicates the International Real Property Foundation.

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Full Answer

Property ownership restrictions vary from one state to the other. In Missouri, ownership of nonagricultural land by foreigners is limited to a maximum of 5 acres, while in Oklahoma, nonresidents are prohibited from owning land, explains the International Real Property Foundation.

Price and rent controls, private land use controls, and the concept of zoning are property restrictions relating to the use of land as a resource. Price and rent controls are deemed by many as being detrimental to the private property system, notes the Library of Economics and Liberty. Price controls place a cap on the maximum value that buyers should pay for property acquisition, while rent controls dictate the maximum amount that landlords can collect in form of rental income.

Zoning restrictions have the objective of promoting the welfare, safety, convenience and prosperity of residents in a state, indicates The Free Dictionary. Zoning facilitates the segregation of commercial, residential and commercial districts within a state, thereby monitoring the rate of property development within the particular state. Zoning laws also seek to control population density in the given state. This ensures that population growth and the rate of property development are directly proportional to the expansion of available social amenities. Unlike other property restrictions, zoning laws seek to improve communal welfare as opposed to the economic situation of individual property owners.

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