We are trying to sell our house in Alamogordo and the deed states that we must sell the house with a 10 acre minimum. We have owned this property for over 25 years. The possible buyers would only like to have 5 acres. Is it possible to have that covenant changed?
1 Answer from Attorneys
It's hard to say. We'd have to look at who created this covenant. Was this in a deed from a developer who subdivided a large parcel of land? Then you would need the assent of all the owners who took parcels in the subdivision, because they are benefitted by the 10-acre minimum lot size covenant. This might be different if all the original purchasers and their successors formed a home owners' association.
This would cost buckets of ducats to accomplish. And what are you going to do with the 5 acre leftover stump?