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A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. [1]
The rights in real property may be separated further, examples including: Water rights, including riparian rights and runoff rights; In some U.S. states, water rights are completely separate from land—see prior appropriation water rights; Mineral rights; Easement to neighboring property, for utility lines, etc. Tenancy or tenure in ...
The main distinction between timeshare and fractional ownership is that with a timeshare you buy the right to use a property, but with fractional ownership, you are buying real estate. You get a deeded piece of real estate, just not for the entire parcel. [4] Fractional ownership divides a property into more affordable segments for individuals ...
This allows people to buy a home at a price far below the market rate and to realize the benefits of their property value improving. Real Estate Investment Trusts divide up the bundle of rights in order to allow commercial investments in real property. These legal structures are becoming more common throughout the developed world.
The fees were often lands, land revenue or revenue-producing real property, typically known as fiefs or fiefdoms. [4] Over the ages and depending on the region a broad variety of customs did develop based on the same legal principle. [5] [6] The famous Magna Carta for instance was a legal contract based on the medieval system of land tenure.
In the United States, a split estate is an estate where the property rights to the surface and the underground are split between two parties. It is the result of Homestead Acts such as the Alaska Native Claims Settlement Act (1971) or the Stock-Raising Homestead Act (1916). [ 1 ]
Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property, in contrast from personal property (also sometimes called chattel or personalty). However, for ...
Easements, as property rights owned by the beneficiary and usually recorded on titles, are stronger than licenses which are merely personal rights under contract. Purported licenses that have any of the properties of an easement may be determined to be easements or bound by the higher standards for termination of an easement.