Thursday, March 25, 2010

Eagle Mtn New Yard Sale Sign Rules

"The City of Eagle Mountain is relaxing its rules about posting yard sale and other temporary signs.

Previously, the city did not allow residents to post such signs. The Daily Herald reports Eagle Mountain now will allow signs, but restrictions still are in place.

The rules now allow a yard sale sign to be put up for two days as long as it's registered with the city first. Also, the signs cannot be bigger than 4 square feet.

The city made the changes because many residents were frustrated by the no sign rule.

Other temporary signs, such as those for a lost pet, are allowed to be up longer than two days but need to be removed when they've served their purpose or become an eyesore.

Signs may not be posted on trees, light poles or fences."

Sunday, March 7, 2010

Eagle Mtn. Man Allegedly Whips Daughter Over Homework

"An Eagle Mountain man faces a dozen misdemeanor counts of child abuse, after allegedly hitting his daughter with a belt.

According to the Salt Lake Tribune, police say 40-year-old Robert Tuttle told them he hit her because she didn't turn her homework in.

They also say when a sister tried to step in, he tried to hit her too.

Tuttle was arrested Monday, and released the same night on nearly $20,000 bond." -ABC4

Eagle Mtn: Private Transfer Fee On Home Sales

"How about this for a new and ingenious real estate money machine: Every time a house sells during the next 99 years, 1 percent of the price goes back to the original developer or is shared among investor partners. Ka-ching!!!

The levy won't be subject to haggling between future buyers and sellers, either. That's because it's a covenanted mandate - a novel type of lien on the underlying real estate - called a private transfer fee. It's not a government transfer tax. Nor is it a homeowner association or environmental protection covenant. It's purely a private requirement that runs with the land. If a seller refuses to pay it to a third-party trustee at closing, the sale won't proceed.

Sounds like a great deal - provided you're on the collecting end of a near-perpetual revenue stream. Apparently the idea has been attractive enough so that substantial numbers of developers and builders are signing up with a New York-based company that has devised what it calls a "patent-pending" system to tap into real estate transactions well into the next century.

One of DAI's homebuyers, Camber Keiser of Eagle Mountain, Utah, said the fee "was not disclosed" at the time of purchase, "so yes, we were surprised to learn of it" and pleased that DAI removed it." -Chicago Daily Herald

Click here for the story.