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Before it was developed, the idea of property was seen in terms of dominion over a thing, as in the ability of the owner to place restrictions on others from interfering with the owner's property. The "bundle of rights," however, implies rules specifying, proscribing, or authorizing actions on the part of the owner. [4]
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]
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 ...
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] It is sometimes described as a forced sale.
The rights in real property may be separated further, examples including: Water rights, including riparian rights and runoff rights; In some U.S. states, water rights are completely separate from land—see prior appropriation water rights; Mineral rights; Easement to neighboring property, for utility lines, etc. Tenancy or tenure in ...
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 ...
A sale agreement on real estate is legally binding even without registration in the land register, the only requirement being certification of the agreement by a notary. Registration is required, however, in order for the new owner to sell or otherwise transfer the property, or enter a mortgage.
The primary thesis of the article focuses on the notion of "entitlements," or rights, which can be protected by either property, liability, or inalienability rules. The authors' main goal, as noted in the Introduction, is to provide a conceptual framework within which the separate legal subject areas of Property and Torts can be approached from ...