ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, April 13, 1996 TAG: 9604160125
SECTION: OPEN HOUSE PAGE: OH-2 EDITION: METRO
SOURCE: NANCY AGREE PRESIDENT
"No person shall be. . . deprived of life, liberty or property without due process of law." These words from the Bill of Rights guarantee the security of home ownership and the basic right to own, transfer and use real property.
In honor of American Home Week, April 14-20, the New River Valley Association of REALTORS, offers a brief look at the history of private property rights and encourages the citizens of the New River Valley to join in the celebration of these rights and acknowledge the need to protect them.
Our nation's concept of private property rights evolved from English common law, which, to a large extent, was patterned after the ancient Roman law. Such laws have stood the test of time and courts, and were strongly supported by the American colonists.
Property rights were well established by the time George Washington became our first president. Washington remarked that "lands are of permanent value; there is scarcely a possibility of their falling in price, but almost a moral certainty of their rising exceedingly in value."
However, we don't have the absolute right to exercise these rights as freely as we may wish. "Just as most property is subject to some limitations, so are property rights controlled by some necessary restrictions," explains Nancy Agee, president of the New River Valley Association of REALTORS. "These restrictions may be thought of as protections that enhance property and safeguard its value."
American property rights and privileges are limited or restricted by certain powers of government. The first, power of taxation, is the government's right to tax property based on assessed value and the prevailing tax rate.
The power of eminent domain is taking private property in the public interest. "Just compensation": is required when property is appropriated. Affected property owners participate in the legal processes to ensure that compensation is just.
Police power is the right of the government to regulate property for the protection of the public's safety, health, morals and general welfare. Zoning laws, housing restrictions, building codes and subdivision controls are examples of regulations based upon the police power of the government.
"Because we, as Americans, enjoy more political and economic freedom than any other people on earth, this nation must guard against taking for granted the rights inherent in home ownership," reminds Lilly. "All citizens should be aware of local government regulations affecting private property. I encourage you to attend city council meetings. Know your local property issues, such as zoning and taxation."
Franklin Delano Roosevelt once said, "Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense and managed with reasonable care, it is about the safest investment in the world."
While this remains true today, the dream of home ownership can be fulfilled only if we continue to protect our private property rights.
Join us in celebrating American Home Week, April 14-20, the national observance of our right to own, use and transfer real property.
The New River Valley Association of REALTORS is one of more than 1,800 local boards and associations of REALTORS nationwide that comprise the National Association of REALTORS. As the nation's largest trade association, NAR is "The Voice for Real Estate," representing more than 750,000 members involved in all aspects of the real estate industry.
LENGTH: Medium: 72 lines ILLUSTRATION: PHOTO: 1. Nancy Agee, 1996 president of New River Valleyby CNBAssocation of REALTORS, ERA Townside, Inc. REALTORS. 2. Platinum
winners. New River Valley Association of REALTORS 1995 Platinum
Award winnres (front row, from left): Janie Cassell, Joanne W.
Palmer, Charlotte Chan, Judy Fithian; (back row, from left): Linda
Deemer, George Poole, Joseph T. Jones, Betsy Mabry, John K. Skelton.
Not pictured: Dan Dodson.