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The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds .
A land patent for a 39.44-acre (15.96 ha) land parcel in present-day Monroe County, Ohio, and within the Seven Ranges land tract. The parcel was sold by the Marietta Land Office in Marietta, Ohio, in 1834. The land patent specifies any usage restrictions, such as oil and mineral rights, roadways, ditches, and canals, that apply to the land.
For example, if a piece of lumber sits in a lumber yard, it is a chattel. If the same lumber is used to build a fence on the land, it becomes a fixture to that real property. In many cases, the determination of whether property is a fixture or a chattel turns on the degree to which the property is attached to the land.
The government wished both to distribute land to Revolutionary War soldiers in reward for their services and to sell land as a way of raising money for the nation. Before this could happen, the land needed to be surveyed. [2] The Land Ordinance of 1785 marks the beginning of the Public Land Survey System.
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
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