Real estate deed restrictions are restrictions on the deed that place limitations on the use of the property. Deed restrictions come with the property and usually can’t be changed or removed by subsequent owners. Certain neighborhoods in Summit County have various deed restrictions. The most common deed restriction is that of a 3% per year appreciation cap on the home. The second most common is an owner occupancy restriction and the third most common is an employment restriction (i.e., the owner must work in Summit County at least 30 hours per week). When purchasing deed restricted property always make sure to read the documents in their entirety and don’t hesitate to ask questions.
If you would additional information on the matter or on a specific subdivision, please call us at 970-453-5600.
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