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Reply to "Legal recourse over below market home sale?"
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[quote=Anonymous]With respect to control over property that one sells: Will vary by state law but must be in writing--like a restrictive covenant. Imagine living in a home with a great view. You buy the lot directly in front of your home to protect the view. Then you need money, but still want the view. A restriction in writing that states that only a structure of a certain height can be built of the lot and any structure above a certain height can only be built on a certain part of the lot (which minimizes interference with the view). Presumably, the buyer will pay a lower price on the lot due to the restrictions. Everything needs to be in writing.[/quote]
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