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What Is a Real Estate Attorney?

Within certain jurisdictions, individuals are licensed to practice law given that they undergo a rigorous training and educational experience. These individuals are called attorneys, or more formally known as attorneys-at-law and colloquially as lawyers. An attorney provides clients with various...

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What Is Real Property?

Different classifications and categories of property exist within the spectrum of common law. Such properties may be distinguished form one another based on the form they take or the value they have. Real property, in contrast to personal property, is referred to as land or any other improvements...

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What Are Liquidated Damages?

Liquidated damages refer to money as compensation for the death of a person, injury to a person or to his rights or property. The amount is awarded by the court or through a contract stipulation when breach of contract is involved. In most contracts, a liquidated damages stipulation is included....

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What Is a Timeshare?

A timeshare is a kind of real estate plan where a piece of property is given to a number of people. These people share ownership of the said property. This is a sharing arrangement that is different from, say, a regular home where, in some instances, it is shared by the husband and wife. In a...

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What Is a Real Estate Contract?

Real Estate Contract is an agreement or deal regarding the use, purchase and even exchange of land and other real estate properties among companies, parties and even individual owners. This kind of contract could cater to four kinds of transactions and agreements namely purchasing, sale, leasing...

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Allied Schools Online

Allied Schools is an online school accredited by the Accrediting Commission of the Distance Education and Training Council (DETC). Most of its programs have additional accreditations, approvals and memberships from specific agencies such as its courses in real estate, medical, renewable energies...

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What Is a Judicial Foreclosure?

A judicial foreclosure is an action taken by a state or local court to foreclose a piece of real estate property. A property that undergoes this proceeding is considered to be safer to purchase compared to those that are foreclosed in an extra judicial manner. This procedure involves the sale of...

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What Is Appurtenance?

An appurtenance is a term for something subordinate attached to a more important thing. For example, the equipment consisting of miscellaneous things needed for a certain operation or sport, like the rigging or tackle of a ship, is an appurtenance. Appurtenances can either be physical or intangible...

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What Is a Driveway Easement?

A driveway easement allows the use of a portion of a property for a specific purpose at a certain period of time. This does not necessarily mean possessing rights to the property but the right granted is only for a special purpose. This type of easement is common in subdivisions such as when a...

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What Is Eminent Domain?

Initially found in the Constitution, eminent domain details the right of a government to take possession of private property for its own use. A government can acquire private property through monetary compensation with the private owner’s consent. Eminent domain does not apply only to real estate...