BL-Chapt48 - Print Chapter Page 1 of 35 Real Property and...

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Real Property and Landlord-Tenant Relationships Chapter Introduction 48-1 The Nature of Real Property 48-1a Land and Structures 48-1b Airspace and Subsurface Rights 48-1c Plant Life and Vegetation 48-2 Ownership and Other Interests in Real Property 48-2a Ownership in Fee Simple 48-2b Life Estates 48-2c Concurrent Ownership 48-2d Leasehold Estates 48-2e Nonpossessory Interests 48-3 Transfer of Ownership 48-3a Listing Agreements 48-3b Real Estate Sales Contracts 48-3c Deeds 48-3d Recording Statutes 48-3e Adverse Possession 48-4 Limitations on the Rights of Property Owners 48-4a Eminent Domain 48-4b Legislation Prohibiting Takings for Economic Development 48-4c Restrictive Covenants 48-5 Landlord-Tenant Relationships 48-5a Creation of the Landlord-Tenant Relationship 48-5b Parties' Rights and Duties 48-5c Transferring Rights to Leased Property 48-5d Termination of the Lease Chapter Recap Page 1 of 35 Print Chapter 2010-8-30 ..
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Chapter Introduction From the earliest times, property has provided a means for survival. Primitive peoples lived off the fruits of the land, eating the vegetation and wildlife. Later, as the wildlife was domesticated and the vegetation cultivated, property provided pastures and farmland. In the twelfth and thirteenth centuries, the power of feudal lords was exemplified by the amount of land that they held. After the age of feudalism passed, property continued to be an indicator of family wealth and social position. In the Western world, the protection of an individual's right to his or her property has become one of our most important rights. In this chapter, we first look at the nature of ownership rights in real property. We then examine the legal requirements involved in the transfer of real property, including the kinds of rights that are transferred by various types of deeds; the procedures used in the sale of real estate; and a way in which real property can, under certain conditions, be transferred merely by possession. Realize that real property rights are never absolute. There is a higher right–that of the government to take, for compensation, private land for public use. This chapter discusses this right, as well as other restrictions on the ownership of property. We conclude the chapter with a discussion of landlord-tenant relationships. Page 2 of 35 Print Chapter 2010-8-30 ..
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48-1 48-1a 48-1b 48-1c The Nature of Real Property Land and Structures Airspace and Subsurface Rights Airspace Rights Subsurface Rights Plant Life and Vegetation As discussed in Chapter 47, real property consists of land and the buildings, plants, and trees that it contains. Personal property is movable; real property is immovable. Real property usually means land and structures, but it also includes airspace and subsurface rights, plant life and vegetation, and fixtures (as discussed in Chapter 47). Land includes the soil on the surface of the earth and the natural products or artificial structures that are attached to it. Land
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BL-Chapt48 - Print Chapter Page 1 of 35 Real Property and...

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