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In real estate business and law, a title search or property title search is the process of examining public records and retrieving documents on the history of a piece of real property to determine and confirm property's legal ownership, and find out what claims or liens are on the property. [1]
The common law may apply many exceptions to the rule that the first finder of lost property has a superior claim of right over any other person except the previous owner. For example, a trespasser's claim to lost property which he finds while trespassing is generally inferior to the claim of the respective landowner. As a corollary to this ...
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
Personal property, traditionally known as chattel, may also be adversely possessed, but owing to the differences in the nature of real and chattel property, the rules governing such claims are rather more stringent, and favour the legal owner rather than the adverse possessor. Claims for adverse possession of chattel often involve works of art.
The Fifth Amendment's Takings clause does not provide for the compensation of relocation expenses if the government takes a citizen's property. [1] Therefore, until 1962, citizens displaced by a federal project were guaranteed just compensation for the property taken by the government, but had no legal right or benefit for the expenses they paid to relocate.
Scheduled personal property coverage allows policyholders to secure higher policy limits for added financial protection in the event these items are stolen or damaged in a covered claim. A ...
Personal property taxes apply to vehicles and other movable possessions like your boat, livestock, trailers and farm equipment. The most common type of taxable personal property is your car or truck.
However, most personal property items do not have a formal document of title. For such items, possession is the simplest indication of title, unless the circumstances give rise to suspicion about the possessor's ownership of the item. Proof of legal acquisition, such as a bill of sale or purchase receipt, is contributory.