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Understanding Real Property in the US

Understanding Real Property in the USThere are ultimately two
systems which govern the United States, Federal and State law. The law of Real
Property is controlled by state law due to the differences from state to state.
You can say that Federal focuses on macro, while the state focuses on the
micro, as far as real property is concerned.
   
Real property law varies from state to state, different regulations on zoning, and
different procedures to purchase real property. Your home could be referred to
as real property, everything beneath it down to the core of the earth, and
above it, all the way up to the stars. While that is established, there are air
space regulations in various areas which may take away from the enjoyment of
your land. There are a lot of pros and cons comprised within real property law,
the key is to know which may be beneficiary for you.
   
There are many statutes that govern real property law, each statute is vague
enough for an even argument. Property can be conveyed through various ways, a
gift, a will, or even if there is no will. There are also various kinds of
ownerships to property, each one has its benefits, but at the end of the day,
for the most part, they are balanced out. There are many different forms of
ownerships within a business, the same goes for real property.
   
Real property law is more intense than you would think. For the amount of
investments which go into real property, and the amount of loans taken out for
it, comes to show the amount of interests circulating within this one section
of law alone. A mortgage is a loan taken out against the property decreasing
your liquidity within the property.
   
From the time you are looking to purchase property, until the time of closing,
there are a lot of middle men involved, which means a lot of fees. The
acquiring of property may also take a long time depending on various defaults
or judgments against the seller of the property, if there are any. A lot of
details need to be looked into, the perk of that is, you hire an attorney to
oversee the procedures, but the fees involved will not be small.
   
Each piece of property is given a title, the title is possessed by the owner of
the property. Ultimately, no one can come in the way of a property owner and
his or her property, other than authorities, who are there to keep an eye out
for any unethical conducts that may be committed. Whether it has to do with the
deed or with zoning ordinances, one is constantly dealing with the government
as far as the property is concerned, because of the contact it holds with its
surroundings.
   
Real property is unique, there is nothing of its kind. Since all real property
is located on land, we all know that land is also scarce, so if you need to be
foreclosed, it is only a matter of time before someone else gets to reside on
that “unique” piece of land.

How Do Ownership and Possession Relate?

How Do Ownership and Possession Relate?

Ownership and Possession go hand in hand when it comes to real property rights. Property ownership enables an owner to possess his land at anytime. The chief legal rights of property ownership are possession, use, and power of disposition. Real property rights are protected by statutory codes of the state you are in, as well as in the constitution. Property ownership automatically enables you to have possessory interests over your property, full control over the land.
Possession is occupation of the land that is completely visible, examples being cultivation, construction of improvements, enclosure, and the occupancy of existing improvements. Possession gives the property owner the right to exclude others from the land. When a person occupies another individuals land without permission, they are considered trespassers. The owner may not only evict the trespasser from the land, but also sue for lost damages and even build a case of emotional distress caused by the trespassers actions,
Property ownership gives owners the benefit of using his or her land for either profit, or enjoyment. Whether we are discussing the uses for profit or enjoyment, there will never be absolute freedom. Profit uses are regulated on a constant basis, some cities are not allowed to rent out houses or rooms to others, while certain cities let you do it without any hassle. Enjoyment is regulated only if you interfere with the privacy of others in any manner. For the benefit of your own, another individuals rights’ cannot me violated.
Limitations on the use of land are primarily due to public demands of health, safety, and public welfare along with the safety and enjoyment of your neighbors. Majority of the time when these limitations are breached, the law tends to be lenient since the free use of land is supported within our country.
Property ownership gives you the authority to dispose of your land, this is referred to as the power of disposition. There are a few ways in which this power takes place… before death it can be transferred by means of a contract, deed, or lease; and after death it can be conveyed  through inheritance, or by will.
Private property rights are subjected to the right of sovereignty exercised by federal, state, and local governments. The power to tax, regulate the use of private property in the interest of public safety, health, general welfare, and to take private property for public use when needed are all examples of regulations that private ownership is subjected to.
All in all, possession is a perk of real property rights, keeping in mind that privilege can be confiscated by authoritative figures if needed due to the endangering of another person or through a breach of regulations. We live a lavish lifestyle here in the U.S. but living here is also a privilege, if you are not “fit” to have private ownership to property, you would lose it, same goes for being a citizen here: if you do not seem to be fit here, you will be removed for the safety of the rest.

Difference Between Real and Personal Property

Difference Between Real and Personal Property

There are two classifications of property, real and personal. Personal property can be hidden, but real cannot. Real property consists of anything permanently attached to the property, examples being: a home, an attached garage, a shed or even a rose. 
The only way the shed would be considered real property is if it is bolted into the ground, otherwise you can consider it portable, which would make it personal property. The rose is real property until it is pulled out of its garden, in which case it makes the rose personal property. Anything that is immovable, represents real property, while the movable is personal property.
Real property is not only what is on your land, but it also consists of what is below and above it. If you have oil in your backyard, by all means you have the right to dig and acquire that oil. 
On the other hand, if your neighbor has that oil, you cannot dig through your yard downward, and then sideways towards the neighbors. With solar heating and cooler units, airspace becomes more demanding because of the sun needed to shine down on the property in order for the heating/cooling to take place.
Personal property deals primarily with movable things, even if they weigh a ton, as long as they are not attached to the land. You might ask yourself, what’s the purpose behind these two classifications? Well, the classifications enable the law to draw a line between the two. 
For example, if you are purchasing a house with a swing and slide set in the backyard, if the swing set is not bolted, the seller of the land has all rights to take it with him or her, unless it was highlighted within the contract of sale. If the swing set was bolted, the only way the seller could take that with him or her is if it has been stated on the contract, if not, then the swing set is staying on that land since it is permanently attached.
Looking at the above example comes to display the advantages of being able to decipher between real and personal property. Same thing goes for a shed, regardless of its price, if it is portable and has wheels, it’ll be labeled as personal property, but if it is bolted or cemented, it is clearly labeled real property.
When it comes to purchasing land, some people tend to concentrate more on what is beneath the land, why? Because the minerals below the ground, whether oil, gas or even coal may be worth more than the property itself. With these kinds of minerals below your house, you are the sole owner. That means you can sell or contract those minerals to companies who have a known interest within those minerals.
All in all, Real property can never be taken from you without your permission, unless done so by a governmental agency. A governmental agency can use your property without asking, instead they’ll tell you, this occurs only when the land may be used for the benefit of the state or federal government.

A Full Overview of Real Property

A Full Overview of Real Property

Background


Most laws, including real property law, are governed by both, the federal. and state government, majority of the laws are established by the state with jurisdiction. Each state has its own variations of the laws established, particularly to meet the requirements of their residents. For example, some states have more flat land, rather than a mountainous terrain, therefore the laws dealing with those states will adapt to the circumstances given. Each state has many different regulations, such as ones with zoning, and various means and requisites in order to acquire real property. 
Your home could be referred to as real property, as well as everything beneath it all the way down to the core of the earth, and above it, all the way up to the stars. That was the initial rights one had, until satellites and a traffic of air transportation had come into play. While that is established, there are air space regulations in various areas which may take away from the enjoyment of your land. There are a lot of pros and cons comprised within real property law, the key is to know how they work in your benefit. 
Each piece of property is unique, the term non-homogeneity portrays the value of each piece of property. The government requires owners to make full use of the land, and to not let it go to waste. There are processes in which not only could your land be taken by the government, but the title could also be acquired by an individual who might begin to develop interest on your land. As long as the interest is beneficial to the possessor and to the land, after a statutory period, the land could be deemed theirs as long as guidelines are followed.
Majority of the property law implemented within the modern United States derives from English Feudal law. Feudalism was one of the creations which was given birth during the Dark Ages. During that time, “divide and conquer” became the motto. Groups were formed, and the most capable out of each group became the leader. 
The most capable out of the groups became Lords, while the others became vassals or tenants. The Lords took on the major issues on hand regarding the power of the group as well as its security and stability. The term “real” is derive from the Latin word “thing”, while “estate” was derived from “status”. Back in the feudal era, only the Lords had absolute ownership of property, this is initially where the term “landlord” derives from. 
The rules and regulations in which the federal government and state govern real property law, tend to go hand in hand. It is very rare to see a conflict of interest, even precedent ruling has no complications. The law has designed various sources of law which get places into primary, secondary, and resourceful sources. This in itself comes to lay down the priority of precedents. The key numbering system helped put all the codes and decisions into an organized matter, almost everyone turns to West Law for convenience and articulation.

Legal Assistance for Real Property
A legal assistant within real property law assists the buyer, and the seller in carrying out their tasks within their real property transaction. The skills obtained by legal assistants in real estate law include the preparation of legal documents, analyze and review of real property titles, creating land descriptions, preparation and review of leases, and fact-finding investigations required to represent purchasers, sellers, and lenders in connection with real estate transactions. 
Real estate legal assistants are employed in private law firms, corporate legal departments, and governmental agencies. For the most part, the legal assistance necessary in order to get through a real property transaction are through property lawyers, paralegals, and real property consultants. Between these three, who owe a fiduciary duty to the buyer, and the seller, should be overlooking the whole real estate transaction from beginning to end.

Acquiring Real Property Overview

Acquiring Real Property OverviewInheritancereal propertytitlesGiftsSale or PurchasecontractAdverse Possession

This law has been enforceable for hundreds of years, and its process has been
implemented several times since not only the early settlement of the United
States, but in the settlement of European nations since the 1400’s. Adverse
possession takes place without the willingness of the property owner. If the owner
was to be aware, he could attempt to prevent during the years required in order
for the possessor to receive title to the property. One of the earlier
additions to an adverse possession claim, which benefit the possessors, is the
process of tacking. Tacking deals with either selling your interest on another
individual’s property to a second possessor, or to add an additional possessor
in order to make time go faster.

Real Property Overview

Real Property Overview

Each piece of land has its own non-homogeneity, meaning you can always decipher between two pieces of land, they are unique. In real estate transactions each piece of land has its own block number. Real property management deals with real and personal property in which systems and manpower are required in order to manage the life cycle of all properties acquired. 
This also includes accountability, acquisitions, control, dispositions, maintenance, and utilization. In example, a few duties they bare are collecting rent, responding to and addressing maintenance issues, and providing a buffer for those landlords desiring to distance themselves from their tenant constituency.
Anything that is not considered real property is personal property. Personal property is anything that permanently fixed, is not nailed down, or built onto the land. Since real property is immovable and permanent, the owner therefore has the estate for a minimum of his lifetime, unless he or she decides to sell it. There are two types of personal property: one being tangible, which has value, in example, a car, a pocket book, a laptop. 
And intangible which has no value of its own, rather it has representative value, for example, bills, a certificate, diploma, poker chips in casinos, and even the lottery. Overall, real property law consists of clean cut differentiation between real and personal property. Both of these work as a base which stems into a variety of different regulations, benefits, procedures, they bare a whole complexity of their own.