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Keep it as a guest house and I'll be right there....
Did you know that you can never actually "own" the land. You can own the house and you can own the deed but you can never actually own the land. Its a sort of strange thing no one ever tells you. I think that is how they so easily apply eminent domain in forced evictions to make way for highways and shopping malls and stuff. . .
Quote from: capozzoli on October 08, 2010, 05:14:33 pmDid you know that you can never actually "own" the land. You can own the house and you can own the deed but you can never actually own the land. Its a sort of strange thing no one ever tells you. I think that is how they so easily apply eminent domain in forced evictions to make way for highways and shopping malls and stuff. . . I don't think that's how it works exactly, but I think I know what you mean. You own it, but there are ways around that. I "own" my land, but not the mineral rights, those belong to Weyerhauser. If I ever discover gold in my backyard I've got to keep it on the DL or they'll just come and take it.
I own my land but not the sky above. Ever heard of a Homestead?
Quote from: euge on October 09, 2010, 12:17:29 amI own my land but not the sky above. Ever heard of a Homestead?In a vague sort of "how the west was settled" historical Homestead Act sense, and other less precise colloquial usage. I don't really know the legalities around it though . . .
I guess it has it's roots in that. In short- it protects the home owner from losing their property due to debt and even unpaid taxes in some circumstances. I get a discount on my property tax since my property is a "homestead" and is a distinct advantage to living where I do. Not sure about California though. I think they've foregone property taxes in favor of income taxes.
I guess we cant talk about a one time tax on prperty or a tax on appreciation vs an on going tax (rent) cause of breaking the no politics rule.