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On Aug. 17, rules surrounding real estate commissions are set to change thanks to a legal settlement between the National Assn. of Realtors and home sellers. Proponents hope the new rules will ...
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 ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
In property law, the phrase exception in deed refers to a statement in a deed of real estate which reserves certain rights to the transferor (for example, easements, mineral rights, or a life estate).
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Steve Nicastro, a content team leader with Clever Real Estate, based in St. Louis, said Clever expects the ruling to lead to lower commissions for buyers' agents, down from the current average of ...
In the US, graffiti is a common form of misdemeanor vandalism, although in many states it is now a felony. A misdemeanor is considered a crime of lesser seriousness, and a felony one of greater seriousness. [2] The maximum punishment for a misdemeanor is less than that for a felony under the principle that the punishment should fit the crime.
Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they have not searched the records in the recorder's office. This is the doctrine of "constructive notice" and it is nearly universal in the various states of the U.S. So, for example, after a deed or ...