Keeping Your Private Property Rights
You may have fully paid for your home and land, your condominium or your commercial property, but you do not own them. The deeds may be recorded in your name alone and the taxes may be paid in advance, but still you do not own them.
popular thought, your ownership is neither outright nor absolute. In our
system of real estate, what you own is not the property, but a set of
limited rights to the property.
Ownership is often called a
“bundle of rights,” and the contents of the bundle can change as
laws and regulations change. Different types of real estate have
different rights included with the bundle.
Private property rights are the
bricks and mortar of real estate. We live and work in a civilization
built upon private property rights. And the job of maintaining what we
have built is a constant one, for there is no end to threatened
intrusions, small and large, that would limit or curtail our private
Now that home ownership in the
United States is at an all-time high – nearly two of three families
own their dwelling – this is no time to relax or relent in the
never-ending struggle to protect private property rights.
But why bother protecting these
rights? What is the true importance? Consider this. The fewer your
rights of ownership, the less your property is worth and the less likely
you would invest in it or improve it. Your property value would be on a
downward trend. On the other hand, the greater your rights of ownership,
the more your property is worth and the more likely you would invest and
work to find its highest and best use. Your property value would be on
an upward trend.
Multiply your personal ownership
by the millions of other property owners and the overall effect upon the
economy of our county, state and nation is clear.
For decades, Realtors® have
fought to preserve and protect private property rights at the local,
state and national levels of government. Working through the Realtors®
Political Action Committee (RPAC), a group supported by voluntary
contributions from Realtors® and others associated with the real estate
industry, people concerned over the erosion of private property rights
have supported candidates for office, lobbied elected and appointed
officials, proposed new regulations and legislation, and made
significant gains year after year.
In recent actions for Florida residents, RPAC was instrumental in:
As a result of these and many
other successes by RPAC, more people own their homes, more businesses
are thriving, and the economic engine of real estate continues to power
the economy through difficult recessionary times.
The National Association of
Realtors® stands alone as the only professional organization in the
country that takes on the issue of protecting private property rights.
In 2003 the local members and affiliates of the Manatee Association of
Realtors® set an ambitious RPAC fundraising goal over $40,000 to fund
candidates for political office and promote issues that aim to protect
private property rights.
Realtors® know that ownership has a price, and they are voluntarily making gifts and pledges to RPAC that will benefit all owners. While it may cost a bundle to protect and maintain the private property rights that make ownership rewarding, Realtors® are on the front line of the fight. They are ready, willing and able to do what it takes.