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...
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...
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...
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...
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...
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...
When an individual is deprived of his or her legal rights over a piece of real property, this is called expropriation. Governments usually take private properties for various reasons, usually to serve the interest of the public by building access roads where the property lies. The term expropriation...
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...
A purchase agreement is a legal document or contract required when buying a piece of real estate property or any goods and services for that matter. This agreement is essential to both the consumer and the seller since this gives a better understanding of the transaction and agreement between them....
Real estate properties have certificates of title that serve as proof of an owner that he or she possesses the property in question. The certificate of title is a legal document that identifies an owner of a real property, whether it is land or tangible assets. Aside from naming the owner of the...
