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The court may directly require the party responsible for the waste to restore the property to its original condition. The court may accelerate the passage of title in the land, divesting a tenant or life estate holder of the property and vesting it in the landlord or remainderman. Kentucky has a particularly harsh remedy for voluntary waste.
Statutory damages are a damage award in civil law, in which the amount awarded is stipulated within the statute rather than being calculated based on the degree of harm to the plaintiff. Lawmakers will provide for statutory damages for acts in which it is difficult to determine a precise value of the loss suffered by the victim.
For example, compensatory damages may be awarded as the result of a negligence claim under tort law. Expectation damages are used in contract law to put an injured party in the position it would have occupied but for the breach. [7] Compensatory damages can be classified as special damages and general damages. [8]
Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property . [ 1 ]
Taxes can be confusing. But it's important to understand how real estate and property taxes work, especially if you own land, a home or a vehicle. While many people use the terms interchangeably ...
If the tax is not paid within a specified period of time (including additional interest, penalties, and costs), a tax sale is held, which may result in either 1) the actual sale of a property, or 2) a lien sold to a third party, who (after another specified period of time) may take action to claim the property, or force a later sale to redeem ...
A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.
Claiming Tax Deductions for Weather Damage. Vera Gibbons. Updated July 14, 2016 at 6:14 PM. ... Ready to file your taxes? You can get TurboTax for 30% off on Amazon today. See all deals.