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Property law in the United States is the area of law that governs the various forms of ownership in real property (land and buildings) and personal property, including intangible property such as intellectual property. Property refers to legally protected claims to resources, such as land and personal property. [1]
A lease and release is a form of conveyance of real property involving the lease of land by its owner to a tenant, followed by a release (relinquishment) of the landlord's interest in the property to the tenant.
The real estate rented may be all or part of almost any real estate, such as an apartment, house, building, business office(s) or suite, land, farm, or merely an inside or outside space to park a vehicle, or store things all under real estate law. The tenancy agreement for real estate is often called a lease, and usually involves specific ...
More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor under a license to real property. [1] In the science and art of appraisal, it is the amount that would be paid for rental of similar real property in the same condition and in the same area. [2] [3]
In property law, the American rule of possession states that a landlord is obligated only to deliver legal possession, but not actual possession, of a leased premises to a tenant. Thus, if a tenant arrives at a leased premises only to discover that it is still inhabited by a previous tenant who is holding over, or by squatters, it is the tenant ...
Rental of personal property or real property for periods often longer than a year, which is governed by the signing of a lease, is known as leasing. Leasing is usually used for high-value capital equipment, both in business and by consumers. A lease in which the renter benefits from an increase in value of the asset is known as a finance lease.
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In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an improvement or fixture) to be considered part of the real property, it must be integrated with or affixed to ...