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Articles Tagged with Removing restrictive covenants

JCatalano200x300-200x300ORivera2014An article authored by the firm’s Oscar R. Rivera and John Catalano is now featured on the homepage and will soon appear in the print edition of the Daily Business Review, South Florida’s exclusive business daily and official court newspaper.  The article, which is titled “Ruling Reminds Fla.’s Courts, Property Owners of Legal Precedents for Removal of Obsolete Restrictive Covenants,” focuses on the takeaways from a recent decision by Florida’s First District Court of Appeal on the state’s legal procedure for making antiquated restrictive covenants that have been rendered obsolete by modern development go away.  Their article reads:

. . . The decision came in mid-October in Gate Venture v. Arthur Chester Skinner. The case stems from a 2007 transaction in which Skinner et al. conveyed to Gateway Professional Campus, LLC approximately 15 acres pursuant to a warranty deed that included restrictions limiting future development solely to professional and medical offices.

Since the time of the conveyance, significant development of the surrounding properties and changes to their zoning classifications have taken place, and Skinner et al. no longer owns any adjacent or nearby real estate. This led Gateway to pursue the removal of the restrictions via an agreement with Skinner and its partners, and it provided the original sellers with a site plan and information on its intentions to now develop the property as a multi-family community that would complement, not compete with, the surrounding properties.

dbr-logo-1-300x57Unfortunately for Gateway, its complaint alleges the request was “met with opposition” and could not be accommodated. Among the “opposition,” the representatives of the original sellers indicated they would agree to remove the restrictions in exchange for $6 million.

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