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Property law in the United States is the area of law that governs the various forms of ownership in real property (land and buildings) and personal property, including intangible property such as intellectual property. Property refers to legally protected claims to resources, such as land and personal property. [1]
A chain of title is the sequence of historical transfers of title to a property. It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present owner back to the original owner of the property.
Rule 5, as advocated by James E. Krier, Earl Warren DeLano Professor of Law at the University of Michigan Law School, and Stewart Schwab, Professor of Law at Cornell Law School, in Property Rules and Liability Rules: the Cathedral in another Light provides for a solution for the shortfalls of Rule 4. Under Rule 5, the court would use a best ...
Property law is characterised by a great deal of historical continuity and technical terminology. The basic distinction in common law systems is between real property (land) and personal property (chattels). Before the mid-19th century, the principles governing the transfer of real property and personal property on an intestacy were quite ...
The bundle of rights is commonly taught in first-year property courses in law schools in the United States to explain how property can simultaneously be "owned" by multiple parties. 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 ...
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 ...
The rule for immovable property (called real property in common law states) is that the lex situs applies to all questions of title. Movable property (called personal property in common law states) claims are governed by the law of the state in which the property is located at the time the rights are supposedly created.
Quicquid plantatur solo, solo cedit (Latin, "whatever is affixed to the soil belongs to the soil") is a legal Latin principle related to fixtures which means that something that is or becomes affixed to the land becomes part of the land; therefore, title to the fixture is a part of the land and passes with title to the land.