![]() Having an unsafe property leaves a great deal of liability resting on the head of the property owner, so you will want to be sure you have your bases covered. ![]() ![]() This means as a property owner you will need to see what legally must be updated no matter what is already existing. Other issues may involve insulation, heating, or other nuances of a home or building. As a result, many of those buildings soon crumbled during massive earthquakes due to not being up to the new code and many people had to write off the losses. Building compliance changed to be able to withstand increasing seismic activity, but existing buildings did not need to update. One scenario where it was allowed was in Japan in the 1980s. This is important to keep in mind when you are investing in property. This is because zoning laws and other legislation are constantly shifting, so this does allow for buildings to not have to constantly need to be updated and changed to meet new laws.Īs mentioned, grandfather rights can be carried out on a case to case basis. ![]() Grandfather rights are very commonly applied to a property.
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