Real Property Law



Abstract

The research paper discusses the comprehensive Real Property Laws. The research paper has examples and cases that give understanding of Real Property Law. Real estate laws issues have become severe in United States of America. It is significant to identify the Laws and make complete understanding of it aspects. This research is based on secondary data and evidences. The research covers all areas of American Common Real Property Law.

Table of Contents

Introduction1

Discussion2

Property Misrepresentations3

Rule of First Possession5

Lease6

Property Contract7

Protecting Property Rights7

Case no.18

Case no.2 (Assumption)9

Conclusion10

Real Property Law

Introduction

Property law is the body of law that establishes the rules governing ownership rights over scarce resources. Ownership rights are multifaceted often referred to as a “bundle of rights” but in general such rights encompass three broad areas of control over a specific resource: the right to exclude (the ability of the owner to prevent others from using the resource), the right to use (the ability of the owner to use the resource in the manner he or she sees fit), and the right to transfer (the ability of the owner to assign ownership rights to the resource to another). The economic analysis of property law is primarily concerned with the effect of various property rules on the allocation of resources and whether such effects conform to the economic concept of efficiency. 1 Equity issues are also addressed but to a lesser degree.

Real Estate is one of the most active industries in the world today. We always have been in a need to own a house. The concept of selling and buying land and furnished houses is not new and the business of real estate has made progress by leaps and bounds during the past two decades. The advent of globalisation has given a further impetus to this already booming business. But the progress has not been without conflicts and misunderstandings about the individuals' roles within the industry. This paper critically analyses the concept of professionalism within this particular industry. In this paper, discussion on obligations and liabilities on part of the Real Property Laws involved in the business are also discussed with a legal point of view (Gray, 2009). The difficulties faced by the surveyors are also included in this paper.

The American real estate law (Land Law) appears continental to the American lawyers, who are often confused regarding the provisions and the statutes, because the distinction between the rights in common law (so-called legal interests) and in equity (so-called equitable interests) still plays a major role. The difference between these types of formal law, the contents of the same situations to regulate, can be explained only historically.

Discussion

Recent experiences have emerged from the pro-real estate professionals demonstrate the commitment of these by improving the quality of services provided to consumers and society general. On the one hand, we must mention the initiative of the financing associations promoters of credit with ethical stamp the contracts signed by its partners to ensure the legality of the clauses and thus guarantee for ...