Real Estate Law

Real Estate law is basically the law related to property, it is the law which governs the different forms of ownership in land property and personal property. Property means legally protected claims for the resources, like land, houses and intellectual property.

Property can exchanged through contracts, if property is violated, one can sue under the tort law for protecting it. The word property, is used for referring to an object which is owned by a person like car, book and cellphone and the relationship the person is having with his/her property.

 Factors to be considered regarding Real Estate Law are:-

  1. Nature of the object.
  2. The relationship among the person and the object.
  3. The relationship among the strength of people in relation to the object.
  4. How the object is regarded within the prevailing political system?

Illegal Rights of Real Estate Law

Illegal rights or documented property rights are called informal property rights. These informal property rights are non-codified, but can be recognized between local residents from varying degrees.

5 general justifications given on private property rights are :-

  1. Private property is an efficient way for managing resources in a decentralized way and allowing expertise and specialization for the development with regard to the property.
  2. Private property is one of the powerful incentive for owners for putting it for productive use, as they stand for earning gain in the investment.
  3. Private property allowing exchanges and modifications.
  4. Private property is an essential source of individual autonomy, giving independence to the individuals and identifying distinct from others.
  5. Private property, allows individuals for exercising freedom against the government.

Property Law

Property law is established by great deal of historical continuity and technical terminology. The main distinction in common law systems is among real property or land property and personal property.

Land property is generally divided into two parts:-

  1. Corporeal Hereditaments- It includes tangible land property such as lands and assets.
  2. Incorporeal Hereditaments- It includes intangible land property such as an easement of the way.

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