Profits greatly resemble easements, but there is variation that distinguishes the two. Attorneys involved in real estate law should be able to know the difference between the two easily. According to real estate law, profits are non-possessive interest in a piece of land. Due to the necessity of permitting access to land so that resources such as petroleum, minerals, and timber may be gathered, a profit contains an implied easement for the profit owner to enter the other party’s land for the permitted purpose of collecting the resources.
According to real estate law, profits can be created with an expression through an agreement recommended to be advised by attorneys from both parties. The agreement must be made between the property owner and the owner of the profit. It can also be created through a prescription which is where the owner of the profit has made “open” use of the land for a continuous and interrupted rightful, consented period.
There are two types of profit. A profit can be considered appurtenant which is owned by an adjacent landowner and tied to the use of the adjacent land. It can only be used by the owner of the adjacent property. Attorneys would define an appurtenant profit to a right or restriction that goes with any given property such as a covenant against blocking the neighbor’s nice view. In contrast, a profit in gross can be assigned or transferred by the owner of the property. Benefits and obstructions that are not tied to ownership or possession of a specific portion of the land are called “in gross.”
In real estate law, courts will deduce a profit as being in gross unless the profit is explicitly expressed as being appurtenant. Benefits from areas in governmental bodies, conservation, preservation organizations, pipeline owners, railroads, and utility companies are often in gross. Attorneys would recommend that profit owners know the difference between the two.
Termination of a profit can occur through different ways and it usually requires an attorney heavily experienced with real estate law. Real estate lawyers can handle mergers where the owner of the profit receives the land to which it applies and there is no longer a need for a separate right to take the resources off of it. A release is where the owner of the profit can execute a contract, usually with the help of an attorney, to surrender the profit to the owner of the land.
Abandonment where the owner of the profit stops to make use of it for quite a bit of time to guide a sensible owner to be convinced that it will no longer be used. Misuse, which is when a profit is used in a way that it places trouble on the servient’s property, is another way to terminate a profit according to real estate law.
PNC Bank, a mortgage bank based in Trumbull, CT, will have to pay $15,000 to a couple who was denied a home loan because one person in the couple was on paid maternity leave through her employer.
The United States Department of Housing and Urban Development has been engaged in filing lawsuits against lenders who violate anti-pregnancy discrimination provisions of the Fair Housing Act since 2010. According to the Fair Housing Act, discrimination in home loans is forbidden on the basis of disability, sex, religion, race, color, national origin, or family status.
HUD alleged that PNC Bank had violated both the familial status and sex discrimination portions of the Fair Housing Act after it told a woman that she would not be able to obtain a home loan until her maternity leave had ended.
The woman, a veteran of the United States Navy, was told that she would be required to return to work early from her maternity leave in order to get her loan when she needed it. The loan, which was guaranteed by the United States Department of Veterans' Affairs, had no such requirements. Because the woman refused to return to work early, her home loan was delayed. She had to pay an additional $3,000 in closing costs as a result of the discrimination from the loan officer at PNC Bank.
This is the latest in a series of several suits, all pertaining to the same issue. According to the Department of Housing and Urban Development, maternity leave does not constitute a legal reason for any bank to deny a loan to any person. In just the last year, several of these suits have been settled with some of the largest banks in the nation, including Bank of America, which agreed to pay over $160,000 in 2012 to settle similar complaints. Small and large mortgage banks have both been involved in the series of lawsuits, and have begun changing their policies regarding maternity leave as a result.
In addition to paying $15,000 to the couple who filed the lawsuit, PNC Bank is also bound by the terms of the settlement to find any other people who were denied mortgage loans for the same reason and pay each person $7,500 who was subjected to the same form of illegal discrimination. The bank will also be required to provide training to all employees involved in approving loans, ensuring that all loan officers understand the Fair Housing Act and its anti-discrimination provisions.
Most of the legal law regarding real estate originates in the Norman conquest of England in 1066. When William declared that all English land now belonged to the French monarch, the concept of estates was created. These estates were governed through common law, and brought to the United States, New Zealand, Australia, and Canada through Great Britain's imperial expansion. The traditional liabilities a landowner faced with vistiors to an estate were broken into three categories, dependant on the visitor's status.
The three different traditional categories of a vistor were classified as a trespasser (a visitor of which the owner has no knowledge and was not invited), a licensee (a social guest) or an invitee (a guest with a commercial or business interest in the property). These traditional categories have been modified, however, in modern legal law. Many of the changes in real property law regarding liability are simply defined by the inclusion and adoption of common law principles into the written statutes of legal law. In effect, the principles of the common law are merely codified by statutes. They often do not differ substantially from the original intent of the common law.
In traditional legal law regarding estates, trespassers, licensees, and invitees are all granted varying degrees of protection from harm or injury that may be incurred while on another person's land. A certain number of states have instead decided to adopt a more modern statue that eliminates the three different categories of third person parties that may be on their land.
These states do not focus on the distinctions between a trespasser, a licensee, or an invitee, but rather focus on the general duty of a landowner to care for and ensure the reasonable safety of estates for all visitors, regardless of a visitor's traditional categorization. Rather than focusing on the status in legal law of a trespasser, invitee, or licensee, these states focus particularly on the ability of a landowner to foresee injury, maintain property, and ensure safety on estates. Thus, a landowner would not be held liable for injury or harm to a trespasser under older laws regarding estates, but would be held liable under the newer universal laws.
Another notable difference from these statutes is the creation of recreational use statutes is another modern change to the legal law regarding estates. To encourage landowners to allow others to use their estates for recreational purposes, many states have removed the traditional liabilities that landowners must honor regarding licensees on their land.
A landowner would owe no duty to ensuring the safety of a person using their land for recreational purposes if they had qualified as an owner under these recreational use statutes. Provided they do not charge a person for the use of the land, any harm or injury sustained by a third person party on the owner's land would not be held liable to the owner. These recreational use statutes vary by state, but in general encourage rural land owners to open their land by protecting the owners from injury litigation. Contact real estate lawyers for legal advice and assistance.