Real estate includes not only the land, but the building(s) that stand on it. This also includes anything attached to the land that cannot be removed without damage (such as a home fixture like cabinets, or a home extension like a garage.) This area of law is much, much different from personal property law, so it is very important that you call an attorney that can guide you through each and every step of the process.
Real estate property law, often referred to as real property law, is a branch of law that governs various aspects of ownership, use, and transactions involving real property. Real property refers to land and any structures or improvements permanently attached to it, such as buildings, houses, and natural resources like minerals, water, and trees. Real estate property law encompasses a wide range of legal principles and regulations, and it plays a crucial role in the ownership, development, and transfer of real estate.
- Ownership Rights: Real property ownership comes with a bundle of rights, including the right to possess, use, lease, sell, develop, and exclude others from the property. These rights are subject to certain limitations and restrictions imposed by law, zoning regulations, and private agreements.
- Deeds: Deeds are legal documents used to transfer ownership of real property. A deed typically includes a description of the property, the names of the grantor (seller) and grantee (buyer), and various covenants and warranties that outline the legal status and condition of the property.
- Title: Title refers to ownership or legal interest in real property. Title can be subject to various encumbrances, such as liens, easements, and restrictions. Title searches and title insurance are common practices to ensure the clear and marketable title.
- Easements: Easements are rights granted to someone to use another person's property for a specific purpose. Easements can be express, implied, or prescriptive and may involve utility access, right of way, or other needs.
- Zoning and Land Use Regulations: Local governments often establish zoning ordinances and land use regulations that dictate how property can be used and developed within their jurisdictions. These regulations help maintain order, safety, and the intended use of land.
- Real Estate Transactions: Real estate transactions involve buying, selling, or leasing property. Contracts, including purchase agreements and leases, are used to outline the terms and conditions of these transactions.
- Landlord-Tenant Law: This area of real estate property law governs the rights and responsibilities of landlords and tenants in residential and commercial lease agreements. It covers issues such as rent, repairs, eviction, and security deposits.
- Adverse Possession: Adverse possession allows a person to acquire ownership of property by occupying and using it openly, continuously, and adversely to the true owner's rights for a specified period, usually several years.
- Eminent Domain: Eminent domain is the government's power to take private property for public use, with just compensation to the property owner. This process often involves court proceedings.
- Real Estate Finance: This aspect deals with mortgages, loans, and financing arrangements for real estate transactions. Mortgage law, foreclosure procedures, and financing terms are essential components.
- Environmental Regulations: Environmental laws and regulations may affect real estate transactions, especially when dealing with properties that have environmental contamination or are subject to conservation or zoning restrictions.
Real estate property law varies from jurisdiction to jurisdiction, and it is crucial to seek legal counsel or consult local regulations and practices when dealing with real estate transactions and property-related issues. It plays a vital role in ensuring the orderly and lawful management of real property and the protection of property rights.