Great news for homeowners that live in communities along the Legacy Golf Course in Green Valley in Henderson, NV. Courts ruled that the 50 year deed restriction on the land that states the land must be used for golf was upheld. I believe there are 19 years left on this restriction. The court also ruled that any new owner (should the course sell) would also be subject to this deed restriction and that the new owner would not be able to challenge this deed restriction.
Many home owners were concerned this land was going to be rezoned and developed after the course was sold to new owners and abruptly closed with no notice to employees, HOA's, or surrounding homeowners. The new owners also didn't disclose their plans to the public as to what they intended to do with the land if they were able to remove the deed restriction. This left everyone with a lot of unanswered questions. I for one am glad to hear that the courts are looking out for homeowners that bought on this course and saw these new owners for what they are really doing which was buying prime land for extremely cheap to make a buck and having no regard for all the homeowners that would have lost a ton of value in the meantime.
If you were holding off on buying that luxury home on Legacy Golf Course due to this dispute now might be the time to make that move.
I’ve been wondering how the new ownership was going to get around a deed restriction.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.