In general, the term “real estate” refers to the ownership or use of land. Real Estate Laws is a branch of civil law that covers the right to possess, use and enjoy land and permanent aggregates made by the man on this. Real Estate Laws impact most of us daily, whether directly or indirectly, and affect homeowners, tenants, landlords, home buyers and sellers of homes.
In the United States, each State has exclusive jurisdiction over the land that lies within its borders. Each State has the authority to determine the shape and the effect of a transfer of real property in their territory. As a result, State law requirements vary considerably from one State to another.
Real Property & Personal Property
In general, there are two types of property: real property and personal property. Most of the legal concepts and rules associated with both types of property are derived from British common law. At that time, the concept of real property, often abbreviated as “property”, referred to the lands and its fixtures. In modern times, “real estate” has become the American term encompassing purchase, sale, rental and use of the land.
In particular, real property is land and, in general, everything that stands, grows or fixed in it, including buildings and crops. The term “land”, in general use, includes not only the face of the Earth, but anything of a permanent nature on or under it, including minerals, oil and gas.
At the same time, Personal property are everything, apart from the land, which may be subject to ownership, which includes stocks, money, banknotes, intellectual property and intangible assets.
Real Estate Sales & Purchases
When sold a piece of property, the seller usually hire brokers or real estate agents to obtain a buyer for the property. Agents, brokers and sales representativesare licensed and regulated by local state laws
A real estate contract between a buyer and a seller of real estate is governed by the General principles of contract law and the State’s individual laws. The sale or transfer of real property must almost always be in writing. In general, real estate contracts are required that the title to the property which is sold is “marketable”. Often, you hire an attorney or a title insurance company to investigate legal tradability of a title.
In order to transfer a title, a deed with a proper description of the land must be executed and delivered. Some states require that the deed be officially recorded to establish ownership of the property and/or provide notice of its transfer to subsequent purchasers.
Landlord / Tenant and Land Use Laws
In addition to the purchase or sale of land, States tend to regulate rental or lease of properties for residential or commercial purposes. These laws cover a variety of practices, such as the way they are handled in guarantee deposits and the evictions, among other things.
In addition, State and local laws have a significant effect on how your property is used by the owners. Environmental and urban planning laws affect development and construction projects. In addition, associations of owners or community standards affect the use of properties in many modern residential communities. Find Laws Real estate section has detailed information on purchasing, refinancing and selling a home, avoiding foreclosure and much more. You can get the information you need on the rights of the tenant, how to find the proper mortgage, mortgage loans, foreclosed and a variety of other issues related to real estate.