What Is The Weirdest Local Custom or Law Regarding Real Estate?

What Is The Weirdest Local Custom or Law Regarding Real Estate?

Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

I was having a brief online discussion with @Jay Hinrichs about the regional differences in real estate throughout the country.  I was curious what everyone else thinks is the weirdest local custom or law you have in your market. Although if it is in your market, you might think of it being perfectly normal...so perhaps you might chime in with something that seems weird from another market.

In my market, I think one of the more interesting oddities is a system of Ground Rent we have in our area. It occurs primarily in Baltimore, but is also found in random other spots in Maryland and Virginia. In Baltimore many of the properties you buy you are technically only buying the physical structure while someone else owns the land and you pay them rent on that land. The owner of that land might be known, or might not be known.

0Reply
25 views

Most Popular Reply

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

@Russell Brazil  lots of land leases in Hawaii.... was not aware that was the case in your area..

one oddity in the NW west is how Timber is treated as real property while its standing and is personal property after it is severed and harvested.

So you can buy and sell timber deeds .. you can 1031 timber deeds.. and this is just the standing timber does not effect the land underneath.

See this reply in the discussion

5 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Russell Brazil  lots of land leases in Hawaii.... was not aware that was the case in your area..

    one oddity in the NW west is how Timber is treated as real property while its standing and is personal property after it is severed and harvested.

    So you can buy and sell timber deeds .. you can 1031 timber deeds.. and this is just the standing timber does not effect the land underneath.

  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    9y

    Fantastic question @Russell Brazil.  It's especially relevant in a 1031 situation because it is the state that determines the definition of real estate.  For instance, Working and royalty interests in oil/gas/mineral projects are like kind to investment real estate.  That makes for some very interesting scenarios in places like TX, OH, PN and ND where cold oil rich farmers can trade sell their interests and use the proceeds to buy a snow free condo on Miami Beach.

    Likewise, mobile homes when driving down the road with a license plate are personal property.  But when that mobile home is attached to a lot with a tax parcel id it becomes real estate.

    Down here in La La Land there are two other very interesting non real estate types of real estate - dockminiums and rackminiums.  These are critters where boat slips or racks in a boat storage facility have been condominiumized with tax deeds.  That hole in the water where you park a boat is real estate in Florida and eligible for 1031 treatment - go figure!!!

    The 1031 Investor5140 Reviews
  • Annapolis, MD · Member since 2015 · 132 posts · 52 votes
    9y

    I work in Waldorf Maryland and find it interesting that in some counties like Prince George County you can not decline a potential tenant based on there source of income.  In other words you can not decline a renter because they are on section 8.  However in other counties, like Charles County where I live, that is perfectly fine to do so.  When I work with landlords around here I often run into tension when I tell people the owners "are not participating in the section 8 program at this time" and then I have people trying to tell me that the owners HAVE TO accept section 8.  I then very politely inform them that there are Federal, State and County level Fair Housing laws and in our county you can decline someone based on there source of income.

  • Russell BrazilBusiness Member
    Moderator
    OP
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y

    @Malcolm Lawson I think the more interesting one, though it doesnt come up very often is that in certain MD counties, and DC political affiliation is a protected class.  Without that, a number of those people working on the Hill wouldnt be able to find housing.

  • Annapolis, MD · Member since 2015 · 132 posts · 52 votes
    9y

    HAHA Just looked it up "Political Opinion: The opinion of persons relating to government, the conduct of government, political parties, candidates for election or elected office-holders. (Harford, Howard and Prince George’s Counties)"

Join the conversationCreate a free account to reply, vote on answers and follow this thread.