Private and Public Restrictions on Real Estate

     Public Restrictions are the governmental powers to regulate, acquire, and tax real estate properties. These government limitations create a sustainable and controlled real estate market economy for individuals and businesses.
A few examples of public restrictions are Taxation, Eminent Domain, Police Power, Planning, Zoning, Building Codes, and Escheat.
                i.e. Mandatory Dedication, Impact fees, and Takings.

North Dakota Votes "NO" on Property Tax
Here is an example of a real world restriction from the local and state governments in North Dakota.

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     Private Restrictions are private or public encumbrance restrictions that limit the rights of property owners to what and how they can use their land. Some of the private encumbrances are: CCR's, Liens, Easements, Profit a prendre, Encroachments, and Adverse possession.

A Wells Fargo Executive Becomes A Squatter
Here is a private restriction example, where a Wells Fargo Executive decides to move into a foreclosed Malibu home.