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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 ]
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]
Community property may consist of property of all types, including real property ("immovable property" in civil law jurisdictions) and personal property ("movable property" in civil law jurisdictions) such as accounts in financial institutes, stocks, bonds, and cash. A pension or annuity may have first been acquired before a marriage. But if ...
When mineral rights have been severed from the surface rights (or property rights), it is referred to as a "split estate." In a split estate, the owner of the mineral rights has the right to develop those minerals, regardless of who owns the surface rights. This is because in United States law, mineral rights trump surface rights. [5]
This type of "split roll" property tax system would have resulted in most owners of large commercial properties paying higher property taxes commensurate with the property's current market value, without changing property taxes for small businesses, agricultural lands, or residential properties.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Hurricane Sandy flooded the East River Park and the Lower East Side in 2012 prompting city officials to consider flood mitigation plans that would alter the park. [6] In June 2013, U.S. Department of Housing and Urban Development (HUD) secretary Shaun Donovan launched Rebuild by Design, a competition which called for experts to develop solutions for neighborhoods disproportionately impacted by ...
There are two main views on the right to property in the United States, the traditional view and the bundle of rights view. [6] The traditionalists believe that there is a core, inherent meaning in the concept of property, while the bundle of rights view states that the property owner only has bundle of permissible uses over the property. [1]
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