In a bizarre turn of events, a Rhode Island developer was recently asked to remove a $1.8 million home that they had built in 2009, citing that the structure was mistakenly built on reserved park land.

After the home was completed in 2011, the developer, Four Twenty Corporation, put it up for sale. They did not realize their mistake, however, until the prospective buyers ordered a survey for the land, only to discover that the home had been built on protected property. All involved parties were unhappy, to say the least.

In 2008, the Rose Nulman Park Foundation signed an agreement that if the trustees of the land parcel used it as anything other than a park, they would be required to pay $1.5 million to the New York Presbyterian Hospital. Though the foundation did not visibly perceive the error on their own, since the land parcel was divided close to a different, unoccupied one, when they heard of the error by Four Twenty Corp. they maintained their position. The owner of the corporation attempted to purchase the property from the foundation, but they responded that the land was not for sale.

Currently, Four Twenty Corp. has received approval to move the structure to an unoccupied adjacent parcel. However, environmental advocacy group Save the Bay has placed a suit to block this move, citing that doing so would cause severe detriment to the land and cause erosion near the Bay area. Proceedings are still ongoing.

At Real Estate Closing Solutions of Florida, we understand the importance of having all facts checked before proceeding with action! As a leading Central Florida title closing company, our goal is to educate and empower consumers and refer proven, trustworthy and knowledgeable local real estate professionals. Who else is in a better position to know the key players than RECS who deals extensively with local Realtors and lenders every day. To learn more about real estate news and our services, call (407) 615-8550 today.