The world of real estate is up in arms, after ICANN declared an expansion of its global control.
In a press release aimed at realtors, real estate agents, property managers and property appraisers, ICANN notified everyone about the new rules of “property use” – beyond domain names:
“We’re expanding the requirements of domain ownership regulations [11.5/2012 and 12.2/2003], into real estate, land and other related unmovable property. Owners of such property must clearly indicate that they acquired it without intending to infringe on the rights of mega corporations, trademark owners, and that the fair use doctrine is imposed.”
Naturally, this broad, far-reaching new regulation sent the world of real estate raging:
“They want us to demonstrate continuous use of a land, past its acquisition? Of a farm? Of a residential home? Have these &@%$@!ing bureaucrats gone crazy already?” said Hollywood Hills realtor Jenny Pappas, visibly dejected.
Tens of thousands of homeowners will now have to place a sign that reads “Not for sale” to avoid getting hit with the equivalent of a UDRP from potential suitors. The sign can be posted on a side entrance, or on the front lawn, where available.
“It’s the most ridiculous new law out there, and we are going to see homes being lost when the owner fails to respond,” said practicing lawyer, Ibrahim Houdini. “Our firm specializes in Reverse House and Condo Hijacking, we’ve already defended three cases in the two weeks that the law is in effect,” added Houdini.
If you own a home, a condo, or a car you’ve converted into your sleeping quarters, make sure you educate yourself about this new property law.
Reverse House & Condo Hijacking – Photo by Bernard Hermant on Unsplash
What does this mean for Rick Schwartz owner of Property.com and Properties.com