Legal Question in Real Estate Law in Virginia
real estate deed restriction
I along with a brother and sister all under 10 years of age was deeded 12 acres of land by our parents with the restriction that we could not sell it but only leave it to our heirs. The real estate in question has become commercial and carries a heavy tax burden for us and the only benefit we get from it is living in our houses. We would like to sell the property but the title company says they would not guarantee a conveyance. We feel desperately traped in this situation and don't see a way out. What can we do? Could we transfer it to our heirs while we are alive and then could they sell it and give us part of the money?
2 Answers from Attorneys
Re: real estate deed restriction
Correction to term in previous answer:
The correct term is alienation(referring to real property being freely transferable))rather than alienage (an immigration status).
Re: real estate deed restriction
Better see a lawyer about this matter who is appropriately knowledgeable in the law of real property and probate matters. What you've decribed would appear to be an invalid restriction on alienage(right to sell/dispose of real property as the owner sees fit).