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Malum prohibitum (plural mala prohibita, literal translation: "wrong [as or because] prohibited") is a Latin phrase used in law to refer to conduct that constitutes an unlawful act only by virtue of statute, [1] as opposed to conduct that is evil in and of itself, or malum in se. [2]
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
The merger also refers to the doctrine whereby "a fee simple estate, once fragmented into present and future interests, can thereafter be reconstituted. 'Merger is the absorption of a lesser estate by a greater estate, and takes place when two distinct estates of greater and lesser rank meet in the same person or class of persons at the same time without any intermediate estate.' "[1 ...
Term used in contract law to specify terms that are voided or confirmed in effect from the execution of the contract. Cf. ex nunc. Ex turpi causa non oritur actio: ex nunc: from now on Term used in contract law to specify terms that are voided or confirmed in effect only in the future and not prior to the contract, or its adjudication. Cf. ex ...
Key takeaways. Real estate transfer taxes are a one-time fee imposed by state or local governments on the transfer of property ownership. The cost of transfer taxes varies by location and is based ...
A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.
In real estate, effect of changes in real rights is only valid by registration. This is because the rights and relations of real estate can be clear by the registration which serves the security of real estate contract. Real rights consists of General Provisions (chapters 1 - 3) and Servitude (chapters 4 - 7): Possessory right
Other side effects of better monitoring and cleaned up streets may well be desired by governments or housing agencies and the population of a neighborhood: broken windows can count as an indicator of low real estate value and may deter investors. Real estate professionals may benefit from adopting the "Broken Windows Theory", because if the ...