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Colette Meiji
Registered User
Join date: 25 Mar 2005
Posts: 15,556
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03-08-2008 13:21
From: AnneMarie Meehan Exactly, which is why that comparison seems to apply in this case. One does not usually put up a lot of money to *rent* an apartment, and even if you do put up a damage deposit there are rules about when that can be withheld. Buying land on a private sim requires a payment up front (in our case a substantial sum), plus the monthly tier fees. I think the condo situation is very similar to this. In our case, the "condo association" TOOK the money we paid up front for our "condo" even though we were up to date with our "condo fees" simply because the "condo" owner wanted to turn the building into a "grocery store". Probably used the "condo payment" to stock the damn store.  I don't know, When you buy a condo its like buying a house. You own that Unit. You have title, property taxes, Everything. The owner of the condo is you, Not the building owner. The building owner just has some claim if you are in legal violation. But usually its the bank that would step in there - Since you have a mortgage on the place. In Second Life Private Island - the owner of a parcel is really the Island Owner. You just have the rights of an owner as long as the Island owner doesn't take them away from you. It would be like leasing the rights of a condo (as in a Time Share), rather than buying one. |
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AnneMarie Meehan
Registered User
Join date: 14 Feb 2007
Posts: 11
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03-08-2008 13:25
From: Colette Meiji I don't know,
When you buy a condo its like buying a house. You own that Unit. You have title, property taxes, Everything.
The owner of the condo is you, Not the building owner. The building owner just has some claim if you are in legal violation. But usually its the bank that would step in there - Since you have a mortgage on the place.
In Second Life Private Island - the owner of a parcel is really the Island Owner. You just have the rights of an owner as long as the Island owner doesn't take them away from you.
It would be like leasing the rights of a condo (as in a Time Share), rather than buying one. Ok, I see what you are saying. I thought estate land was like a condo but it is actually like a time share. Then I whole-heartedly agree with the people on these threads who have been saying the *perception* needs to be clarified. There does also seem to be a need for protection from seizure for 'renters', and some kind of mechanism for arbitration or intervention when things go wrong. |
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Kaimi Kyomoon
Kah-EE-mee
Join date: 30 Nov 2006
Posts: 5,664
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03-08-2008 17:29
I remember the first time I was looking at land to buy and I started reading covenants, which was very confusing. It did seem like I would be buying the land but then not really having control over it.
So I just avoided land for sale with covenants. But I can see how someone would think they were buying rights to occupy the land in perpetuity and would feel cheated if they got evicted. Especially if they had paid a large lump sum to move in.
I feel so sorry for you, AnneMarie, especially since you lost all your stuff too.
The system really should be set up better to make it clear what is owning and what is renting.
The fact that people are ending up surprised by this happening is an indication that they weren't adequately warned.
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Kaimi's Normal Wear From: 3Ring Binder i think people are afraid of me or something.
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