Restrictions on the Transfer of Property
Ownership of property typically includes the right to sell or give it away. This right, however, is not absolute. Restrictions exist that may impact the ability of an owner to transfer her property in a given situation.
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Liens on Property
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Liens and mortgages on land restrict the owner's right to transfer the property by affecting the disposition of sale proceeds. Some mortgages have a "due on sale clause" giving the lender the right to immediately foreclose upon the owner's transfer of the real property.
Type of Ownership
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Land ownership is more a bundle of rights than a single unified concept. Grantors can convey limited interests in land, such as life estates and defeasible interests that divest the grantee of title upon the occurrence of certain events---such as an attempt to transfer the property.
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Fraudulent Transfers
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Federal and state laws can restrict the ability of an owner to transfer property when he does so for improper purposes, such as preparing for bankruptcy, hiding assets from creditors in a lawsuit or trying to keep property away from a spouse in divorce.
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References
- Photo Credit real estate image by Andrei Merkulov from Fotolia.com
