Public Restrictions on Real Estate

Public Restrictions: Keystone Pipeline

Assignment #2, Task #2

On the flip side of restrictions on real estate is that of public restrictions. Since it's pretty evident, it's probably no question that these restrictions are imposed by any form of government. These restrictions, like private restrictions, dictate the uses of land and include several forms. Public restrictions include taxes, the right of eminent domain, police power, and more. Of these, I have chosen to focus on a fairly common restriction known as Eminent Domain.

Eminent Domain is a power granted to the government to acquire private property for public use. To further illustrate this concept, I have found an article from the Nebraska Radio Network which once again deals with this restriction in the oil & gas industry. This article, which focuses on landowners disapproval of the Keystone XL Pipeline owned by TransCanada, talks about eminent domain in the condemnation proceedings currently being held at the Nebraska State Capitol in Lincoln. These proceedings, which focus on a new bill being brought forth to protect private landowners from eminent domain, are ongoing and involve a vast amount of anti-pipeline rallying. This bill will require the forces at be to obtain all necessary permits before condemnation and to appropriately illustrate how their acquisition of land is for public purpose. Situations like these are common and will occur more frequently as the need for oil pipelines become more prevalent and important. While public restrictions grant authority to seize land for specific uses, the interests of private ownership must always be considered, especially in instances such as these.

Private Restrictions on Real Estate

Private Restrictions: Texas Express Pipeline
Assignment #2, Task #1

Even though real estate has several uses and owners in this world, there are of course rules and loopholes that apply to a variety of property. One sector of these are private restrictions. These restrictions can dictate how land is used or provide security and include covenants, liens, easements, and other types of restrictions. One particular private restriction I want to focus on is that of an easement.

An easement is a right given to one party by a landowner to use the real estate in a specified manner. Of this, there are 2 types of easements: Easement Appurtenant and Easement in Gross. The difference between these two types are distinguished by their applicability to either the Dominant Estate (the estate that benefits from the easement) or the Servient Estate (the estate that is burdened by the easement).

To better understand this, I found an interesting article from the San Antonio Express News that involves an industry I am extremely familiar with: Oil & Gas. This article, found here, is about a new expansion project from LaSalle Pipeline LP. This expansion project involves placing 52 miles of 16" pipe from the Eagle Ford Shale area across the state to various customers. While the pipeline company has eminent domain, they have run into several problems with landowners (the dominant estate) from which they need to obtain easements from. These easements will grant the pipeline the ability to cut across the parcels of land to obtain the routes needed to place this pipeline. As shale plays become more and more prevalent across the US, the need for pipelines will grow and situations similar as these will occur more frequently

Fascinating Real Estate

The most fascinating piece of Real Estate I have ever encountered and experienced is that of St. Patricks Cathedral in New York City. While I'm a devout Catholic, this church has been one of the most important structures in a city that is typically proclaimed as "the center of the world". To have stood the test of time for so many years in a city that is constantly evolving and changing says a lot about the perception that the natives of New York have toward this structure.

In addition, I was once an Architecture major at A&M before I decided to switch to Mays. During this tenure as an Architecture student, I studied numerous ancient structures and St. Patricks is one that has elements that come from several different sources.  The church as a whole can be most accurately described as a Neo-Gothic sanctuary. Built of marble with several pointed arch vaults and incredibly high ceilings, the church draws heavy influence from the typical European Gothic churches of the 18th century. The ribbed piers and large rose window add a sense of immense depth and give way to intricate stained glass windows depicting biblical anecdotes. These features all combine to give the viewer a feeling of being overwhelmed. Also, there are Baroque features such as the large organ and the usage of traditional wooden piers. All in all, St. Patricks is a testament to the power of American masonry and the combination of several influences.

When I first saw St. Patricks on my first trip to New York City, I was truly in awe. I was born in Mississippi and have spent most of my life in the American South and Texas. While these places will always be dear to me, the sight of New York City was staggering to me. I visited St. Patricks after visiting Rockefeller Center and this gave me the perspective that New York is both the old and the new; the ancient and the modern. Truly, this parcel of real estate is one that I hold dear not only due to its architectural features and my religious background, but also due to the feelings it propagates in those who look upon it.

Introduction

My name is Adam McCord. This blog is being developed for my Real Estate 371 course in the Mays Business School of Texas A&M University. However, I plan to put more of myself into it and hopefully entertain the readers of this blog.

Firstly, if you wish to learn more about me, click on my Google+ profile to the side which is linked into this blog as apart of Blogspot.com. Secondly, there are things in there that are not common knowledge. I pride myself on being a very diverse person with a multitude of interests and talents. My hobbies include a wide range of athletics from football to golf, being a musician and music producer, an avid artist in various mediums, a bit of a tech wiz, and a very engaged business Fightin' Texas Aggie. I enjoy the typical college life with my Fraternity Delta Tau Delta and my good friends. In addition, I'm an outdoor enthusiast and love kayaking, hunting with my black lab Max, fishing, and sailing.

My goals in life are wide ranging. In the short term, I have had the pleasure of being offered a few financial positions at very prominent oil & gas firms such as Shell and NiSource. I will be deciding on my final job in the coming months. I am anxious to graduate and begin the next chapter of my life. In the long term, I am looking into attending the Darden School of Business at the University of Virginia for my MBA and perhaps going into a new field in an industry I truly am passionate about. Also, I hope to start a family somewhere in between it all.

I find myself to be extremely unique. I am an avid music producer and have helped record and master several Texas Country artists. Also, I have had a slew of interesting jobs from being an amateur tattoo artist in Houston to being a junior pro at Houston National Country Club. I am an Eagle Scout and also pride myself on being an artist who has done work for several businesses including Texas A&M. On my Bucket List, the most important item is to climb Denali in Alaska, a personal goal of mine from the time I was much younger. But perhaps the most important item is to change someone's life for the better, which I hope I have.

My favorite websites include: The Art of Manliness, Of Oak & Iron, ESPN, Rotten Tomatoes, and REDDIT.