Ownership and Rights in Real Estate
Easements, Liens and Encumbrances in Real Estate
When one owns real property, this ownership can be limited or "encumbered" by various easements, liens or encroachments to the property. Learn the basics of easements, liens and encumbrances in real estate.
What is The Bundle of Legal Rights of a Real Estate Owner?
The bundle of rights that the owner of real property has are those legal rights of ownership including, enjoyment, exclusion, disposition, possession and control.
What Does a Quitclaim Deed Convey?
The Quitclaim deed is the least protective for the buyer. Types of deeds. Real estate deed types.
What Does a Bargain and Sale Deed Convey?
A bargain and sale deed does not warrant against encumbrances. It only implies that the grantor holds title and possession of the property. Real estate deeds. Types of real estate deeds.
What Does a Special Warranty Deed Convey?
A special warranty deed provides less protection for real estate buyer than a general warranty deed. The grantor warrants that they have legal title, and have not encumbered the property during the time they've held title.
What Does a General Warranty Deed Convey?
A General warranty deed legally binds the grantor with certain covenants or warranties. Covenant of seisin, covenant against encumbrances, covenant of quiet enjoyment, covenant of further assurance, covenant of warranty forever.
Understanding the Title Insurance Commitment or Binder
During the real estate purchase process, the title company will search the public records, and issue what is called a title insurance commitment or a title insurance binder. This document binds the title company to issue the insurance policy subject to the requirements being met. The list of exceptions are those items that will not be covered...
Elements of a Real Estate Lease
Real estate lease agreements consist of numerous elements that set out the rights and obligations of the lessor/landlord and the lessee/tenant. These include items referencing possession, use, term, security deposits, options, recording, assignment, sub-leasing, maintenance, destruction, and improvements.
The Options Element of a Real Estate Lease
Real estate lease contracts have many elements that constitute the agreement between the landlord and tenant. One of these, if offered, would be the option for the tenant, or lessee, the privilege or option to renew the lease at the end of the term.
Types of Real Estate Encumbrances
Learn the types of encumbrances on real estate properties, including liens, deed restrictions, easements, encroachments and licenses.
Ways that Easements on Real Estate are Created
Easements are the right of someone to utilize the real estate of owned by another. Easements can be created by written agreement of the parties, a deed conveying a property, condemnation, prescription or by necessity.
Ways that Real Estate Easements Can Be Terminated
Easements generally pass along with ownership changes in real estate. However, there are ways that easements can be terminated. Generally, this is not an automatic event, but will require some legal action. Learn about release, merger, non-use, adverse possession, destruction and quiet title action.
Types of Leasehold Estates in Real Estate
In leased real estate, there are several types of leasehold estates in which a tenant can enjoy possession of the leased property. These include estate for years, periodic tenancy, estate at will, and estate at sufferance.
Requirements of a Valid Lease for Real Estate
A lease in real estate is a type of contract. For that reason, certain things are required for it to be considered legally valid. These include capacity to contract, legal objectives, offer and acceptance and consideration.
Special Facets of Real Estate as Regarding Waterfront Properties
As with any specialty type of property, there are unique considerations when listing, marketing and representing buyers for lakefront or other waterfront properties. Learn all the special rules and peculiarities or risk problems later.
The Control of Land Use with Zoning Codes and Permits
Communities need control of how land is used, and the type and use of structures constructed in their area. This is done with zoning codes and zoning permits. The purposes for which land can be used, as well as the type and look of structures are controlled this way.
Land Use Planning Explained for the Real Estate Professional
Orderly growth for municipalities is accomplished through land use planning. The appropriate governing authority develops a plan that incorporates housing needs, land use, traffic and roads, utilites, community facilities, and lately energy conservation.
A Real Life Step-by-Step of a Property Access Nightmare
Property access is quite important in the legal bundle of rights in real estate. Particularly in rural areas, this access must be carefully verified for your buyer customer or client. Insured specific access is a term used in title insurance that requires specific legal description of a covered easement in the wording of the title policy. Here's a true step-by-step property access nightmare to illustrate.
Zoning Codes and What They Control
Zoning codes affect such things as lot sizes, uses of land, structure types, structure sizes, style of buildings, density and conservation of resources.
The Zoning Permit in the Zoning Ordinance Process
Zoning ordinances are enforced using the zoning permit process. A property owner applies for a permit to use a property in a certain way or to construct a certain type of structure on the property. There are also variances and conditional use permits when the proposed use doesn't meet the current zoning law.
The Consumer Federation of America Testifies About the Title Insurance Industry
In April of 2006, J. Robert Hunter, the Director of Insurance of the Consumer Federation of America (CFA), testified before Congress on the title insurance industry. Four and a half years later, nothing has been done to either repair this highly profitable but consumer abusive industry. Here are the players in the testimony.